ABSTRACT
PurposeThe paper aims to decipher, through intertwined external and internal perspectives, how female and male owners of family businesses (FB) that have been affected by the pandemic develop new capabilities to respond to the market's crisis-related needs. Specifically, this study seeks to decipher the role of external support, mediated by the owner's psychological capital (i.e. internal perspective) and moderated by gender, on the development of capabilities related to the market's changing needs, drawing on the dynamic capabilities conceptualization.Design/methodology/approachA sample of responses from 261 Canadian FB owners was generated during the pandemic, and online questionnaires were distributed.FindingsRegression analyses and Hayes' PROCESS tool revealed that while external support directly invigorates capability development, external support is also mediated by psychological capital and moderated by gender, so that female owners were found less likely to use external support for capability development than men. These findings are explained by women's traditional responsibility in FB of protecting the family from external circumstances. Nevertheless, both women and men orchestrated external support, due to the higher psychological capital of FB, to develop capabilities that respond to pandemic-related market needs.Originality/valueThis study explores and demonstrates the unique navigation of FB owners during crises, and the role of the owner's gender in pursuing capability development. The study's value is in interconnecting external and internal perspectives while probing FB during crises. Implications for the ecosystem's conduct toward FB are discussed.
ABSTRACT
La pandémie de Covid-19 a eu des répercussions sans précédent sur de nombreuses entreprises. L’objectif de cet article est d’étudier l’influence de l’optimisme situé sur la capacité de l’entrepreneur à surmonter le stress perçu en période de crise. Notamment, lorsqu’il est pris entre le marteau (problèmes financiers résultants des mesures sanitaires) et l’enclume (obstacles au financement). La méthode de recherche adoptée est une étude quantitative en coupe instantanée auprès de 677 dirigeants de PME et travailleurs autonomes. Une analyse par la méthode des équations structurelles basée sur les moindres carrés partiels (PLS) a permis de révéler l’effet médiateur de l’optimisme situé sur le stress lié aux problèmes financiers induits de la crise. Les problèmes financiers rencontrés durant la pandémie ont été une source de stress pour de nombreux entrepreneurs. Les résultats montrent que dans ce contexte de crise, l’optimisme situé est une ressource psychologique à ne pas négliger pour leur permettre de faire face au stress perçu.Alternate :The Covid-19 pandemic had unprecedented repercussions on many companies. The aim of this article is to study the influence of situated optimism on the entrepreneur’s ability to overcome stress in times of crisis. Especially, when s/he is stuck between the devil (financial problems resulting from crisis measures) and the deep blue sea (financing obstacles). The research method adopted is a cross-sectional quantitative study on 677 SME managers and self-employed. The use of the partial least squares (PLS) structural equation method revealed the mediating effect of situated optimism on stress induced by financial problems. The financial issues encountered during the pandemic have been a source of stress for many entrepreneurs. The results show that in this context of crisis, situated optimism is a psychological resource that should not be neglected to enable them to cope with perceived stress.Alternate :La pandemia del Covid-19 ha tenido repercusiones sin precedentes en muchas empresas. El objetivo de este artículo es estudiar la influencia del optimismo situado sobre la capacidad del emprendedor para superar el estrés percibido en tiempos de crisis. En particular, cuando éste queda atrapado entre la espada (problemas económicos derivados de las medidas sanitarias) y la pared (obstáculos para financiarse). Con respecto a la metodología de esta investigación, se ha realizado un estudio cuantitativo transversal de 677 dirigentes de PyME y trabajadores autónomos (por cuenta propia). Un análisis de ecuaciones estructurales basado en mínimos cuadrados parciales (PLS) reveló el efecto mediador del optimismo situado sobre el estrés relacionado con los problemas financieros inducidos por la crisis. Los problemas financieros encontrados durante la pandemia han sido una fuente de estrés para muchos empresarios. Los resultados muestran que, en este contexto de crisis, el optimismo situado es un recurso psicológico que no debe descuidarse para permitirles afrontar el estrés percibido.