Doing good right: building resilience through donations during the pandemic

PurposeWhile researchers recognize the significance of philanthropic donations in disaster relief and recovery, the benefits that firms derive from such donations remain unclear, particularly when firms are adversely impacted by the disaster. To address this gap, this study seeks to elucidate the impact of various donation strategies on firm resilience in the context of the COVID-19 pandemic.Design/methodology/approachBased on the hand-collected data on donations, the authors employ ordinary least squares regressions to investigate the effectiveness of various donation strategies - including type, timing and location - in enhancing firm resilience in terms of the severity of stock price losses during the pandemic. To address potential endogeneity concerns, the authors use a two-stage least squares regression with instrumental variables.FindingsThis study finds robust evidence that certain donation strategies are more effective at mitigating stock price losses during the pandemic. Specifically, the authors find that in-kind donations (compared to monetary ones), earlier donations (compared to later ones) and donations targeting severely impacted areas (Hubei province vs. other places) are more effective methods to reduce the severity of stock price losses.Originality/valueThis study points out an alternative mechanism through which donations influence firm resilience during a crisis context and provides important managerial implications for firms to better engage in disaster donations.

Rigidity in crisis: The impact of OHSAS 18001 certification on production repurposing during COVID-19

It is important for firms to repurpose production responsively during a crisis such as the COVID-19 pandemic, to seize the market opportunity and create social value. However, occupational health and safety (OHS) can also be a concern in a crisis, and adherence to OHS management systems can undermine a firm's responsiveness in repurposing decision making. We adopt the "capability-rigidity" lens to construct a connection between OHS management standards (i.e., OHSAS 18001) and firms' adaptation responsiveness. After sampling 734 listed Chinese manufacturing firms, our match-based analysis reveals that firms certified with OHSAS 18001 were less responsive during COVID-19 in terms of production repurposing than those without the certification. Yet, certain experience, namely, prepandemic manufacturing of related products, experience of the severe acute respiratory syndrome (SARS) epidemic, and being geographically located close to firms that produced medical supplies, could attenuate this effect. We discuss the implications of our findings in the context of and adding to the literature on safety management, certified management standards, and organizational adaptation and learning.

The effect of customer and supplier concentrations on firm resilience during the COVID-19 pandemic: Resource dependence and power balancing

The COVID-19 pandemic has created significant disruptions in both demand and supply. Our study makes use of such dramatic changes in demand and supply during the pandemic to examine resource dependence and power balancing/unbalancing issues in buyer-supplier relationships. Specifically, we investigate the effect of customer and supplier concentrations on firm resilience during the pandemic. Drawing on resource-dependence theory (RDT), we theorize that shifts in demand and supply in different pandemic stages influence the effect of customer and supplier concentrations on firm resilience by altering the power dynamics between focal firms and their concentrated customers and suppliers. Central to our theorizing is that the worsening power imbalance is more detrimental. Measuring firm resilience by loss and recovery (i.e., change) in productivity, our analysis of 23,440 Chinese listed firms' quarter observations from 2019 to 2020 shows that customer concentration is negatively related to firm resilience in the disruption stage but has no effect in the restoration stage. Supplier concentration is positively related to firm resilience in the disruption stage but undermines firm resilience in the restoration stage. These findings largely confirm our theoretical propositions. We discuss the theoretical and managerial implications.

[Clinical characteristics of 16 neonates infected with SARS-CoV-2 during Omicron variant outbreak].

Objective: To analyze the clinical characteristics of the neonates infected with SARS-CoV-2 during the Omicron outbreak in Shanghai 2022. Methods: In this retrospective case series study, all the 16 neonates with SARS-CoV-2 Omicron infection who were admitted to the neonatal unit in Shanghai Public Health Clinical Center from March 1st to May 31st, 2022 were enrolled. Their epidemiological history, clinical manifestations, nucleic acid cycle threshold (Ct) value and outcomes were analyzed. Based on maternal vaccination, they were divided into vaccinated group and unvaccinated group. Rank sum test and Chi-square test were used for the comparison between the groups. Results: Among the 16 neonates, 10 were male, and 6 were female. All the infants were full-term. The infection was confirmed at the age of 12.5 (8.0, 20.5) days. All the neonates had a history of exposure to infected family members, and thus horizontal transmission was the primary mode. Four infants were asymptomatic, 12 were symptomatic, and there were no severe or critical cases. The most common clinical manifestation was fever (11 cases), with the highest temperature of 38.1 (37.9, 38.3) ℃ and a course of 1-5 days. Other clinical manifestations included nasal obstruction (3 cases), runny nose (2 cases), cough (2 cases), poor feeding (2 cases), vomiting (1 case), and mild tachypnea (1 case). The complete blood counts of all neonates were within the normal range, and the C-reactive protein increased slightly in 1 infant. Chest imaging was performed in 2 infants, showing mild focal exudative changes. Nucleic acid turned negative (Ct value ≥35) within 7-15 days after diagnosis. All neonates fully recovered after supportive treatment, and the length of hospitalization was 13 (10, 14) days. In the telephone follow-up 2 weeks after discharge for all 16 cases, no infant showed reoccurrence of clinical manifestations or nucleic acid reactivation. Maternal vaccination was not significantly correlated with symptomatic infection or the persistence of positive nucleic acid result in neonates (all P>0.05). Conclusions: Horizontal transmission is the primary mode for neonatal SARS-CoV-2 Omicron infection. Neonatal infections are usually mild or asymptomatic, with good short-term outcomes. And their clinical manifestations and laboratory examinations are nonspecific.

[Management and short-term outcomes of neonates born to mothers infected with SARS-CoV-2 Omicron variant].

Objective: To summarize the management and short-term outcomes of neonates delivered by mothers infected with SARS-CoV-2 Omicron variant. Methods: A retrospective study was performed on 158 neonates born to mothers infected with SARS-CoV-2 Omicron variant admitted to the isolation ward of Children's Hospital of Fudan University from March 15th, 2022 to May 30th, 2022. The postnatal infection control measures for these neonates, and their clinical characteristics and short-term outcomes were analyzed. They were divided into maternal symptomatic group and maternal asymptomatic group according to whether their mothers had SARS-CoV-2 symptoms. The clinical outcomes were compared between the 2 groups using Rank sum test and Chi-square test. Results: All neonates were under strict infection control measures at birth and after birth. Of the 158 neonates, 75 (47.5%) were male. The gestational age was (38+3±1+3) weeks and the birth weight was (3 201±463)g. Of the neonates included, ten were preterm (6.3%) and the minimum gestational age was 30+1 weeks. Six neonates (3.8%) had respiratory difficulty and 4 of them were premature and required mechanical ventilation. All 158 neonates were tested negative for SARS-COV-2 nucleic acid by daily nasal swabs for the first 7 days. A total of 156 mothers (2 cases of twin pregnancy) infected with SARS-CoV-2 Omicron variant, the time from confirmed SARS-CoV-2 infection to delivery was 7 (3, 12) days. Among them, 88 cases (56.4%) showed clinical symptoms, but none needed intensive care treatment. The peripheral white blood cell count of the neonates in maternal symptomatic group was significantly higher than that in maternal symptomatic group (23.0 (18.7, 28.0) × 109 vs. 19.6 (15.4, 36.6) × 109/L, Z=2.44, P<0.05). Conclusions: Neonates of mothers infected with SARS-CoV-2 Omicron variant during third trimester have benign short-term outcomes, without intrauterine infection through vertical transmission. Strict infection control measures at birth and after birth can effectively protect these neonates from SARS-CoV-2 infection.

Trade activities and investments in the framework of the Shanghai Cooperation Organization: Ways and means of protecting the rights and legitimate interests of enterprises

The COVID-19 pandemic has had a significant impact on the global system. It has especially increased uncertainty in overseas investment and foreign trade activity of enterprises. The pandemic continues to cause economic, political and legal risks (especially compliance risk and default risk) faced by enterprises entering foreign markets and carrying out investment activities. Therefore, enterprises need to enhance their legal awareness, strengthen compliance management of overseas investment by enterprises and create a risk management system, and carry out investment activities on the premise that they comply with international rules, the legal norms of the host country and the relevant domestic laws and regulations. On this basis, governments should strengthen the rule of law concerning foreign affairs, improve related government regulations for overseas investments. According to the "Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and Vision 2035 of the People's Republic of China", China will improve its legislation on overseas investment, support enterprises to integrate into the global industrial and supply chain, improve the transnational operational capacity and level, and guide enterprises to strengthen compliance management so they can prevent and resolve overseas political, economic, and security risks. The Government of the People's Republic of China enhances friendly cooperation in the legal field and establishes working mechanisms for consultation and coordination with other countries. Much attention is paid to conducting research in the field of strengthening risk assessment methods and risk management for enterprises engaging in outward investment.