Business Resilience: Lessons from Government Responses to the Global COVID-19 Crisis

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dc.citation.issue5
dc.citation.volume32
dc.contributor.authorNguyen H
dc.contributor.authorPham AV
dc.contributor.authorPham MDM
dc.contributor.authorPham MH
dc.date.accessioned2024-07-15T03:13:12Z
dc.date.available2024-07-15T03:13:12Z
dc.date.issued2023-08-22
dc.description.abstractThis study explores the survival of firms across countries, and what factors contribute to their ability to withstand large-scale exogenous shocks, focusing on the COVID-19 pandemic. Using corporate default risk as a measure of non-resilience, our empirical results from 97 countries reveal that stringent COVID-19 containment measures created a significant resilience test for businesses worldwide. Further tests suggest that cash holdings, knowledge assets, international sales, and access to foreign capital markets are crucial for global businesses to pull through exogenous shocks. Country-level institutional qualities also play an essential role in shaping business resilience during a crisis. Our study is the first to comprehensively analyze the drivers of business resilience across diverse countries using the COVID-19 outbreak as a major global crisis, providing a nuanced understanding of this topic in international business.
dc.description.confidentialfalse
dc.edition.editionOct 2023
dc.identifier.citationNguyen H, Pham AV, Pham MD, Pham MH. (2023). Business resilience: Lessons from government responses to the global COVID-19 crisis. International Business Review. 32. 5.
dc.identifier.doi10.1016/j.ibusrev.2023.102166
dc.identifier.eissn1873-6149
dc.identifier.elements-typejournal-article
dc.identifier.issn0969-5931
dc.identifier.number102166
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/70183
dc.languageEnglish
dc.publisherElsevier B.V.
dc.publisher.urihttps://www.sciencedirect.com/science/article/pii/S0969593123000665
dc.relation.isPartOfInternational Business Review
dc.rights(c) 2023 The Author/s
dc.rightsCC BY-NC-ND 4.0
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectBusiness resilience
dc.subjectFirm default risk
dc.subjectGovernment responses
dc.subjectCrisis management practices
dc.titleBusiness Resilience: Lessons from Government Responses to the Global COVID-19 Crisis
dc.typeJournal article
pubs.elements-id462397
pubs.organisational-groupOther
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