Identifying and classifying the contributing factors to financial resilience

Abstract

Purpose This paper aims to identify, classify and rank the contributing factors to financial resilience. Design/methodology/approach The present study is of a mixed-method and significant contributing factors have been identified after analyzing and reviewing the literature on resilience and financial resilience. These factors were classified and ranked using the analytic hierarchy process method. This paper operationalizes the concept of financial resilience. Findings The study results show that consistency in production and sales, access to a reliable supply chain, management ability to environmental adaptability, regional dimension and social support from the government’s side are among the determining factors in financial resilience at the market level. Some elements such as flexibility, risk identification, income, foreign exchange benefits, innovation in presenting goods and services, firm size and responsiveness of partners and beneficiaries inside and outside the organization are among the leading contributing factors at the organization level and management manner. Finally, the staff’s efficiency in using organization resources, shareholder staff and learning culture in the organization are among the main contributing factors to financial resilience under the staff’s influence. Originality/value The study results may give managers direction to evaluate companies’ resilience, especially in the emerging economy; besides, it improves the literature on the topic.

The religion effect on corporate cash holding in China: Buddhism and Taoism

“…According to the theory, it predicts that managers who themselves may not be religious believers will be affected by the religious norms in a local geographic area, because the religious social norms of the local population are an important element of the environment in which managers live and operate. (Kohlberg 1984; Sunstein, 1996; Cialdini & Goldstein, 2004; El Ghoul et al, 2012; Du, 2013b; Zahedi et al, 2021; Ho et al, 2021).…”

Financial resilience of Spanish wineries during the COVID-19 lockdown

“…Because we are interested in the factors which determine resilience of wineries to the COVID-19 shock, the main dependent variables y 1 -y 5 are differences of the coordinates z 1 -z 5 between 2020 and 2019 (this approach is related to the first-difference estimation for paneldata models, Wooldridge, 2010):…”

“…A high margin enhances the survival of companies in the sector and translates into higher returns on assets in line with the value of the wine brand, its DO and the quality of its bottled reserve wines, as indicated by Vizcaino et al (2020). In 2019 large companies had better margins, which helped to face the subsequent COVID-19 crisis in line with Zahedi et al (2021).…”

“…On the other hand, at the level of control variables, the geographical areas analyzed and the typology of the companies (public limited versus private limited) may also affect the resilience of wine companies (Expósito-Langa et al , 2021; Juliá Igual et al , 2022; Zahedi et al , 2021). Specifically, the areas analyzed in this study have different strategic management policies, such as having a single DO in the case of La Rioja or having 12 DOs as in the case of Catalonia, with implications for instance on the international marketing of wine.…”

Cognitive abilities and financial resilience: evidence from an emerging market

“…It can be found in various domains, including psychology, social sciences, organizational behavior, etc. (Zahedi et al, 2022), after being used first in ecology in 1973 (Holling, 1973). Erol et al (2010) defined resilience as an ability to adapt and adjust to environmental changes.…”