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
Using the resource-based view, we examine the roles of international and digital orientations as determinants of the digitalization and the early internationalization strategies of international new ventures (INVs). We also examine the effect of implementing those strategies on the innovation performance of INVs during the COVID-19 pandemic. We tested this conceptual framework by using structural equation modeling (AMOS) on a database of 213 INVs. The results indicate that international orientation is a fundamental determinant of both strategies, while digital orientation only fosters a digitalization strategy. Moreover, both strategies were critical to increase innovation performance during the pandemic. This study expands the literature in the field of international entrepreneurship in three different ways: i) it highlights the relevance of innovation performance for INVs during the pandemic;ii) it underlines the relevance of both the early internationalization and the digitization strategies to promote innovation performance;and iii) it reinforces the importance of international and digital orientations as critical resources for defining strategy. © 2023 Elsevier Inc.
ABSTRACT
The article aims to determine and interpret the export-oriented sustainable management for Ukrainian industrial enterprise's profitability with the help of economic-mathematical modeling instruments. Considering the instability of the world trade economy caused in particular because of the full-scale war that russian federation started in Ukraine, intensification of European integration processes combined with restrictions of COVID-19 pandemic cycles, that changed directions of economic development in many European countries and the globe, there is a necessity for renewed approach to analyze and manage business activities of different companies. The research illustrates approaches of grouping and systematization of problems that define foreign economic activity under integration conditions with the usage of economic-mathematical modeling tools. In order to determine the impact of economic factors on the processes of sustainable management decision-making process, the multifactor regression model was used. The Ukrainian industrial export-oriented enterprise was chosen as a case study. The results allowed to underline the most positive influence on the enterprise's profitability level. The findings demonstrate that companies can analyze the structural-value indicators and identify the main factors of influence on the sustainable management of export-oriented company's profitability. The methodology presented throughout the article can be extrapolated to other situations that consider sustainable management for industrial export-oriented enterprises' profitability. Based on the results obtained the further research might be conducted on how companies can define the keys factors influencing their export production potential and profitability with the aim to develop sustainable managerial decisions. © 2021 Copyright for this paper by its authors.
ABSTRACT
The article describes an applied methodology for the formation of predictive financial statements of an industrial enterprise, taking into account the influence of the COVID-19 factor. Based on the data of the consolidated interim financial statements of PJSC Magnitogorsk Iron & Steel Works and Subsidiaries for 9 months ended September 30, 2021 and 2020, the authors performed forecast calculations for 9 months of 2022, taking into account adjustments to the actual reporting due to the influence of the COVID-19 factor in 2020 based on various economic and mathematical models, as well as the development of events according to three options: “optimistic”, “pessimistic” and “most likely” forecast of various economic indicators. To forecast the “Revenue” indicator for three options (optimistic, pessimistic and most likely), the models of trend analysis and expert assessments were used, taking into account the above correction of the data for 2020. To forecast the indicators “Cost of sales”, “General and administrative expenses”, as well as “Selling and distribution expenses”, structural models were used (relative to the indicator “Revenue”) under the assumption that events develop according to one of three possible scenarios (optimistic, pessimistic and most likely) for each variant of the modeled indicator “Revenue”. To forecast a number of indicators that are of insignificant importance in the specified form of financial statements, expert assessment methods were used. The results of calculations using the proposed models are presented by nine versions of the forecast “Consolidated statement of comprehensive income”. For projections of “Assets”, “Equity” and “Liabilities” in “Consolidated statement of financial position”, trend, structural and balance models were used in accordance with the data obtained in the forecast “Consolidated statement of comprehensive income”. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.
ABSTRACT
The world is constantly changing. Last year can be considered critical in terms of changes from a historical point of view. Strong technological advances are associated with the onset of the COVID-19 pandemic, which has changed the world. Human resources management has faced the greatest challenge since its inception, the planned changes due to technological progress, digitization and automation have had to be accelerated in several cases and at the same time a smooth transition to a new pandemic operating mode has had to be ensured. The main aim of this paper is to present the research results focused on examination of the influence of Industry 4.0 as well as COVID-19 on changes of job positions. The results of the research will form the basis for the creation of proposals for sustainable human resources management in industrial enterprises in the conditions of the 4th industrial revolution. For the purposes of the analysis, the authors of the paper have designed a valid and reliable collection tool (research survey). The research sample consisted of N = 287 respondents, HR specialists, employees of industrial enterprises in the Slovak Republic. The research result shows that there is direct connection between Industry 4.0 and COVID-19 pandemic influence on job positions. © 2021 IEEE.