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Surviving the COVID‐19 pandemic: The antecedents of success among European SMEs

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  • Chit, Myint Moe
  • Croucher, Richard
  • Rizov, Marian

Abstract

We research the antecedents of relative success among small and medium enterprises (SMEs) in avoiding temporary or permanent closure during the COVID-19 pandemic. We investigate the roles of firm-specific resources and state support policies in influencing SME fortunes, in a sizeable group of European countries covered in the World Bank Enterprise Survey. Using resource dependency, Varieties of Capitalism and Systems theories, we find that innovative capacities, institutional connectedness, governance, and management experience were major antecedents of success across all SMEs. Significant differences in outcomes were found between SMEs operating in old and new EU member states, and non-EU countries.

Suggested Citation

  • Chit, Myint Moe & Croucher, Richard & Rizov, Marian, 2023. "Surviving the COVID‐19 pandemic: The antecedents of success among European SMEs," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 20(1), pages 113-127.
    • Handle: RePEc:zbw:espost:272922
    DOI: 10.1111/emre.12525
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    References listed on IDEAS

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    2. Zubair, Siraz & Kabir, Rezaul & Huang, Xiaohong, 2020. "Does the financial crisis change the effect of financing on investment? Evidence from private SMEs," Journal of Business Research, Elsevier, vol. 110(C), pages 456-463.
    3. Eleonora Bartoloni & Alessandro Arrighetti & Fabio Landini, 2021. "Recession and firm survival: is selection based on cleansing or skill accumulation?," Small Business Economics, Springer, vol. 57(4), pages 1893-1914, December.
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