Firms’ responses to the COVID-19 pandemic

Klöckner, Maximilian; Schmidt, Christoph G.; Wagner, Stephan M.; Swink, Morgan

doi:10.1016/j.jbusres.2023.113664

Cited by 31 publications

(17 citation statements)

References 93 publications

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“…For example, Klöckner et al. (2023) find that an operational response evokes a positive but insignificant stock market reaction. By focusing on PRPA, a particular form of operational response, our study extends their research and elaborates on the theoretical discussion of the insignificant result.…”

Section: Resultsmentioning

confidence: 99%

“…Prior literature on supply chain disruptions and disaster relief shows that the impact of a crisis coping strategy on firm performance is contingent on the severity of the disruption (e.g., Ambulkar et al., 2015; Bode et al., 2011; Klöckner et al., 2023; Tilcsik & Marquis, 2013). Disaster severity influences the demand for critical resources (Arora et al., 2010) as well as the humanitarian response (e.g., speed and magnitude of aid) required from the government, firms, and other entities (Becerra et al., 2014; Eisensee & Strömberg, 2007; Tilcsik & Marquis, 2013).…”

Section: Theory and Hypothesesmentioning

confidence: 99%

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Resilient product and production adaptation in a large‐scale disaster: Does it pay off?

et al. 2023

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Pandemic outbreaks can disrupt firms’ normal operations, so they demand a resilient response. Firms can combine social responsibility initiatives with resilient responses by reconfiguring their production resources for pandemic relief. It remains unclear, however, whether pandemic‐relieving product adaptation (in short, PRPA) improves financial performance. We draw on stakeholder theory to analyze the effect of a PRPA strategy on the stock returns of US‐listed manufacturing firms during the COVID‐19 pandemic—the most enduring and large‐scale pandemic in recent history. The results reveal that the stock market reacts more positively to PRPA under severe pandemic circumstances and for firms with low political connectedness, low media coverage, and/or more unique production technology. The findings offer important implications for operations theory and practice.

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Section: Resultsmentioning

confidence: 99%

Section: Theory and Hypothesesmentioning

confidence: 99%

Resilient product and production adaptation in a large‐scale disaster: Does it pay off?

et al. 2023

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“…Kiers et al [67] expressed that linking the members of the SC to the response improves the reaction to disruptions of the SC. The participation of various areas of the SC is described by Klöckner et al [22] as a collaborative response.…”

Section: Discussionmentioning

confidence: 99%

“…In the latter case, the companies increased wages, rest times, and training. Klöckner et al [22] identified that some companies listed in the Standard and Poor's (S&P) 500 index used operational, digitization, financial, and management support strategies to respond to the effects of COVID-19.…”

Section: Introductionmentioning

confidence: 99%

Supply Chain Response during the COVID-19 Pandemic: A Multiple-Case Study

Pacheco

Benedito

2023

Processes

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This study explores the responses of manufacturing and service provision companies in Santiago de Cali to stimuli during the COVID-19 pandemic. The responses included changes in demand, absenteeism, and the development of new products, which affected the supply chain (SC). The qualitative methodology of the multiple-case study was used. The evidence for the multiple-case studies was collected through semi-structured interviews, where the interviewees were SC experts from four manufacturing companies and one service company. The data analysis was performed in two phases. In phase one, the case study protocol was completed, and in phase two, thematic analysis was used to identify supply chain response (SCR) patterns. The results revealed two aspects of the SCR. First, to respond to a stimulus, SC adapted activities other than those of suppliers and manufacturers, such as product design and development, human resources, budgeting, and logistics. Second, the SCs used several alternatives to respond to the stimuli. This study contributes to two aspects of the SCR literature: (1) it documents the identification, detection, planning, and evaluation of SCR in response to a stimulus, and (2) it proposes the concept of the response pathway. The response pathway concept facilitates decision-making and resource management in SCR.

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“…Therefore, we believe in the reputational effect signaling that, due to green initiatives, an organization can retain human resources to fuel its growth and maintain customers' support, thereby enhancing strategic flexibility, which builds its value. It is also necessary to focus on managerial skills and dynamic capabilities because such capabilities can increase firms' ability to integrate, build, and reconfigure internal and external competencies to address rapidly changing environments, which arise in a crisis (Klöckner et al, 2023). Moreover, for practitioners, the most important implication is the question of the desirability of green practices in times of crisis.…”

Section: Discussionmentioning

confidence: 99%

Has the Covid‐19 pandemic jeopardized firms' environmental behavior? Bridging green initiatives and firm value through the triple bottom line approach

Karman

Prokop

Giglio

et al. 2023

Corp Soc Responsibility Env

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The Covid‐19 pandemic has caused a significant decline in stock markets worldwide, and organizations are experiencing serious financial problems. Protecting and preserving firm value are critical ways to help organizations survive the crisis. This study analyzes a sample of 45 firms listed on the Polish Stock Market in two periods to determine the relationship among green initiatives, the triple bottom line (TBL) perspective, and firm value in the periods before and during the crisis caused by the Covid‐19 pandemic. The results show that firms with higher green initiatives are more likely to obtain better TBL performance during the normal period. Economic and social dimensions of TBL positively influence firm value regardless of the period, but the same is not true of the ecological dimension. The Covid‐19 pandemic's negative impact on investors' perception does not translate to firm value. This study provides the first empirical evidence on the value of organizations affected by the Covid‐19 pandemic in the context of environmental management. By considering the TBL approach, this study provides a new boundary condition that explains the impact mechanism of green initiatives during a crisis.

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Firms’ responses to the COVID-19 pandemic

Cited by 31 publications

References 93 publications

Resilient product and production adaptation in a large‐scale disaster: Does it pay off?

Resilient product and production adaptation in a large‐scale disaster: Does it pay off?

Supply Chain Response during the COVID-19 Pandemic: A Multiple-Case Study

Has the Covid‐19 pandemic jeopardized firms' environmental behavior? Bridging green initiatives and firm value through the triple bottom line approach

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