After the outbreak of the COVID-19 crisis, the number of insolvency filings has reached a record low in 2020. However, industry sectors are affected differently. In the early phase of the COVID-19 crisis, the number of insolvencies in the service sector decreased most substantially. In the third...

In 2020, firms expected their innovation expenditures to decrease by about 2% in 2020 compared to 2019. This decline is much smaller than that in 2009 following the financial crisis, when innovation expenditures fell by 11%. However, smaller firms with 5 to 99 employees planned to cut their...