Turn calamities into blessings: the impact of resource reconfiguration and firm resilience on the company's recovery and growth in the COVID-19 times

PurposeThe purpose of this paper is to construct an integrated theoretical framework of firm resilience, and examine the relationship between resource reconfiguration, firm resilience, disruption impact, profit growth, innovation and environmental uncertainty in the context of COVID-19.Design/methodology/approachA survey was distributed to 220 companies and a total of 207 respondents returned the survey. chief executive officer (CEO) and chief financial officer (CFO) of each company participants in the survey. The hypotheses are tested using structural equation modeling (SEM) technique.FindingsThe results showed that firm resilience can be stimulated through the reconstruction of existing resources, and environmental uncertainty played a moderating role in this process;in turn, the improvement of firm resilience enabled companies to reduce the impact of disruptions, achieve profit growth and promote innovation.Practical implicationsThis study provides practical implications for how business management shapes firm resilience and promotes organization recovery and development.Originality/valueThis study expands the literature of firm resilience by providing an integrated theoretical framework of firm resilience. Firstly, based on the perspective of dynamic capabilities, this study reveals that resource reconfiguration plays a key role in shaping firm resilience. Secondly, this study enriches the boundary research on firm resilience by incorporating environmental uncertainty into the research framework. Thirdly, this study validates the impact of firm resilience on disruption impact, profit growth and innovation of companies, providing sufficient empirical evidence for the outcomes of firm resilience.

Effect of the COVID-19 Pandemic on Consumers' Impulse Buying: The Moderating Role of Moderate Thinking.

Based on event systems theory, this study examined the impact of the COVID-19 pandemic on consumers' impulse buying, as well as the underlying mechanisms and boundary conditions from the perspective of individual consumers. Results of three experiments (N = 437) show that, first, the COVID-19 pandemic enhanced consumers' impulse buying behavior. Second, two key elements, loss of control and anxiety, mediated the relationship between the COVID-19 pandemic and impulse buying; and third, moderate thinking (also known as Zhong-Yong thinking) moderated the relationship between the COVID-19 pandemic and impulse buying. The findings indicate that in consumers with low moderate thinking, the COVID-19 pandemic has had a stronger effect on impulse buying and has mediated more between the loss of control and anxiety. Conversely, in consumers with high moderate thinking, COVID-19 has had a weaker effect on impulse buying and has mediated less between loss of control and anxiety. This study extends the application of event systems theory and enriches the literature on how the COVID-19 pandemic affects consumer behavior. Furthermore, it provides strategic recommendations for government and consumer responses to COVID-19 pandemic shocks.

The Influence of Infectious Disease Cues on Purchase Intention for Environmentally Friendly Products.

Consumers often come across cues of infectious disease in daily life, such as diners coughing in restaurants, commuters sneezing on the bus, or recent news reports about the spread of infectious diseases. In this study, four experiments were conducted to explore the role of infectious disease cues on consumers' purchase intention for environmentally friendly products (eco-friendly products), as well as the moderating effects of consumers' sense of power and anti-disease intervention. According to the results, infectious disease cues enhance consumers' intent to purchase eco-friendly products, and perceived uncertainty and need to belong played a chain-mediated role in the relationship between infectious disease cues and this purchase intention. Consumers' sense of power moderated the relationship between infectious disease cues and purchase intention. The purchase intention of consumers with a low sense of power (vs. high sense of power) was significantly enhanced when the infectious disease cues were highlighted. Anti-disease interventions also have a moderating effect on the relationship between infectious disease cues and purchase intention. When anti-disease intervention (such as wearing an anti-bacterial mask against airborne diseases) was adopted, consumers' willingness to purchase eco-friendly products decreased.