The impact of major events (i.e., Brexit or COVID-19) can have a profound short- and long-term impact on companies’ cash flows.

These events can lead to a sharp drop in economic activity worldwide, and usually hits SMEs harder than larger businesses.

Governments can implement a range of fiscal measures to support liquidity of companies through these events. The evidence on these interventions is currently emerging and is somewhat mixed.

The answer to these important considerations will have a broad consequence not just for businesses but also in context of future policies. For example, we are looking for contributions to a rapidly emerging strand of literature on the impact of the COVID-19 pandemic on businesses; or how Brexit has created winners and losers across the different industries.

A prospective PhD candidate is expected to explore the controversial aspects of both the role of major events across businesses, and the effectiveness of various implemented policies in support of companies.

Supervisor: Dr Nemanja Radic and Professor Yacine Belghitar

Application Details: The PhD candidate should hold a minimum 2.1 class undergraduate degree in a related discipline and have passed, or be expected to have passed by autumn, a master’s degree or equivalent research experience in a work setting. See admission and English language requirements.

Deadline: Expressions of interest alongside a CV are invited via email to or