ABSTRACT
Previous research has shown that firms' resources and management capabilities can contribute significantly to differences in firm resilience. However, little is known about the effect of board governance structures on tourism enterprise resilience during industry crises. This study is the first to explore the effects of board governance structure on tourism firms' resilience in the context of the COVID-19 pandemic. Thus, this study constructed an econometric model, applying ordinary least squares and two-stage least squares with instrumental variables. The model was empirically tested using data from listed Chinese tourism companies for 14 months before and after the COVID-19 outbreak. The study's findings show that board structure significantly impacts tourism enterprises' risk resilience. The role of the board governance structure is significantly heterogeneous owing to differences in the proportion of independent directors, the shareholding ratio of directors and the dual role levels of the chairman and general manager of tourism firms. This study extends the growing tourism resilience literature by adding the important variable of board governance structure. The contribution of this study lies in providing strategic suggestions for tourism firms to enhance their resilience by adjusting their board governance structure, thereby increasing their ability to weather unexpected crisis events. © 2023 Informa UK Limited, trading as Taylor & Francis Group.
ABSTRACT
Internal control is an important internal governance mechanism of enterprises and plays an important role in preventing and controlling corporate risks. This paper utilizes COVID-19 shocks and uses data from listed companies in China for 2019–2021 in order to study the impact of internal control on enterprise resilience and its functioning mechanism. The findings show that internal control significantly improves enterprise resilience during a crisis. By using firm characteristic quantile regressions, it is found that under a crisis, larger firms with sufficient cash flow from operating activities are more protected by internal control and more resilient. Mechanistic analysis suggests that internal control further increases enterprise resilience by improving resource allocation efficiency, reducing operating risk, and increasing innovation output. Further analysis shows that government support can enhance the resilience of firms during crises through tax and fiscal policies;a better business environment enhances firms' ability to withstand risks in crisis situations and helps them gain a competitive advantage in crisis situations. Based on this, this paper provides empirical evidence for revising and improving the internal control system of enterprises to reduce the negative impact of public health emergencies in the context of epidemics. © 2022 by the authors.
ABSTRACT
If something has failed in the management of COVID-19 crisis, this has been the lack of resilience to anticipate, adapt and recover from this event. This paper analyses the impact of COVID-19 in different sectors in Spain, highlighting which ones were more negatively affected by the pandemic after the first COVID-19 wave and which ones created growth and employment during the recovery phase. In this sense, the most negative impacted sectors were culture, tourism and retail while tobacco, pharmaceuticals computer, electronic and optical products sectors pushed the Spanish economy towards recovery. Moreover, the impact of COVID-19 in different aspects such as employment, workers' health, reputation, productivity, among others was also studied. The results reveal that firms invested a lot of time in organising and restructuring work planning to adapt to the new constraints. Finally, based on the findings about the most impacted sectors and the most negatively affected aspects, a set of dimensions and policies are proposed in a roadmap to support the improvement of enterprise resilience capacity to face up to crisis situations such as the one caused by COVID-19. Copyright (C) 2022 The Authors.
ABSTRACT
Technological change is a feature of contemporary life encompassing interactivity, collaboration and, above all, real-time content sharing and live streaming. The COVID-19 pandemic has introduced new dynamics in relation to digitisation and technology usage. Within organisations, these changes have been swift and profound, leading to online meetings, events and virtual team management. An explosion of literature has accompanied these changes and their human impacts. However, the generational and intergenerational issues remain under-examined and therefore constitute an important gap. The paper examines the literature on workplace technology, digitalisation and human impacts in relation to the COVID-19, and particularly, through the lens of different generational adoptive patterns. Taking an inductive qualitative approach, the paper's empirical focus is analyses of semi-structured questionnaire data from intergenerational senior executives. The findings showcase alternative understandings of technology in the late-COVID-19 era and of Xer generational (i.e. born 1961-1981) resilience and operational change dynamics. This allows a number of contributions and implications to be developed.
ABSTRACT
This study aims to assess the role of leadership in Indonesia’s State-Owned Enterprises in bringing the companies to be resilient amid uncertainties and a dynamic environment based on dynamic capability theory. Risk management practices are used to mediate the relationship between leadership capabilities and enterprise resilience. The authors conducted a quantitative and cross-sectional study using a questionnaire distributed to members of the board of directors and senior managers of Indonesia SOEs and their subsidiaries. Based on the structural equation modeling analysis, the findings reveal that leadership capabilities play a role in developing enterprise resilience and risk management practice. Additionally, risk management practice partially mediates the relationship between leadership capabilities and enterprise resilience. The empirical findings enrich the knowledge on the relationship between enterprise resilience, leadership capability, and risk management practice. These results enable management SOEs and their subsidiaries and policymakers to develop strategies and a policy framework to create and develop enterprise resilience and help SOEs navigate safely and triumphantly in uncertain and disruptive business environments. This study supports empirical evidence that expands the context of applying the enterprise resilience concept and dynamic capability theory in hybrid organization types, such as SOEs, that operate in emerging countries.
ABSTRACT
Tourism is one of the hardest-hit industries by the global pandemic of Novel Coronavirus (COVID-19). Small tourism enterprises have been heavily affected and have had difficulty in business recovery. This research is an early attempt to explore the direct impact of small hospitality enterprises' resilience on sustainable tourism development as well as indirect impact through performance. A pre-tested questionnaire survey was self-administered to owner-managers of small hospitality enterprises in Greater Cairo, Egypt. The results of structural equation modeling (SEM) using AMOS showed a positive, direct, and significant impact of resilience (planned and adaptive) on sustainable tourism development and indirect influence through performance. The results of the multi-group analysis showed that enterprise type has a significant effect on the results, where restaurant owner-managers expressed more resilience than their hotel counterparts. Several theoretical (for scholars) and practical implications for tourism policy-makers and owner-managers have been discussed and elaborated.