Majid Mohammed Saeed Jaber University of Fallujah, Anbar, Iraq.
Email: majid.mohammed@uofallujah.edu.iq

Abstract:

This study investigates the evolution of corporate performance on the Iraq Stock Exchange (ISX) throughout the COVID-19 pandemic, with an emphasis on the agribusiness sector. Employing Tobin’s Q as the metric for assessing firm performance, the analysis encompasses eleven companies spanning the agriculture, industry, services, and tourism sectors, over the period from March 2020 to December 2022. Using a panel dynamic ordinary least squares (PDOLS) model for estimation, the results reveal substantial heterogeneity in firm performance at the commodity level. Notably, agribusiness entities exhibited varied degrees of resilience in contrast to their counterparts operating outside the agricultural domain. The outcomes suggest that COVID-19-related variables—namely, the incidence of new infections and the cumulative death toll—adversely influenced overall corporate performance. However, firms within the agribusiness sector displayed operational adaptability and sustained their market value. These insights underscore the necessity for sector-specific policy interventions, particularly those aimed at reinforcing agricultural resilience and promoting sustainable development in the face of Iraq’s shifting economic context.

Keywords:Tobin’s Q, Agri-Business, Iraq Stock Exchange, COVID-19, Sectoral Analysis, Company Performance, Panel Dat.