CONTENT ANALYSIS OF EUROPEAN CORPORATE RESPONSES TO COVID-19 PANDEMIC

Abstract

Objective: This paper examines the role of European multinationals in battling the effects of the COVID-19 pandemic, by analyzing their utilized mechanisms for response and actual corporate responses towards their primary stakeholders. Method: This study applied manual content analysis to the disclosures of the first 25 European corporations listed on the Fortune World Most Admired Companies, by investigating their newsletters, press releases and reports published on their websites. Results: The findings of this research pointed out that sampled corporations have partnered with various external bodies and capitalized on their internal competencies and international presence to exert impactful responses. The outcomes of this research revealed the tremendous amount of corporations’ care for their employees, customers, and host communities’ needs. This study hinted out that both the stakeholder theory and corporate social responsibility viewpoints were integrated upon approaching the society’s emerging challenges, due to the scope and scale of the challenges faced. Conclusion: This article investigates the European corporate responses to the pandemic, with evidences regarding where those specific contributions have gone and the mechanisms practiced to achieve these responses, unlike previous research. It has significant practical implications as to the role of businesses in combating social dilemmas in times of crises.