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Terrorism and Resilience: How Family Businesses Respond to Terrorist Activity

In: HANDBOOK OF GLOBAL FINANCIAL MARKETS Transformations, Dependence, and Risk Spillovers

Author

Listed:
  • Luis Alfonso Dau
  • Elizabeth M Moore
  • Katharine Petrich
  • Max Abrahms

Abstract

The purpose of this chapter is to explain the impact of global security threats on the performance of family firms. A large body of theoretical and empirical research analyzes the impact of terrorism on governments, but it is also important to understand the effects on other types of actors. This is among the first analyses of terrorism’s effects on family business. We argue that family businesses tend to be more resilient to terrorist activity due to superior social capital stemming from the strength of their social ties and motivation to persevere. Further, we propose that family firm performance in the aftermath of terrorist activity is positively moderated by institutional quality, which can both mitigate contextual complications and provide stability. A case study analysis of Indian family firms is developed to substantiate these arguments.

Suggested Citation

  • Luis Alfonso Dau & Elizabeth M Moore & Katharine Petrich & Max Abrahms, 2019. "Terrorism and Resilience: How Family Businesses Respond to Terrorist Activity," World Scientific Book Chapters, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), HANDBOOK OF GLOBAL FINANCIAL MARKETS Transformations, Dependence, and Risk Spillovers, chapter 25, pages 647-668, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813236653_0025
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    Cited by:

    1. Max Abrahms & Luis Alfonso Dau & Elizabeth M Moore, 2019. "Terrorism and corporate social responsibility: Testing the impact of attacks on CSR behavior," Journal of International Business Policy, Palgrave Macmillan, vol. 2(3), pages 237-257, September.

    More about this item

    Keywords

    Market Integration; Risk Management; Risk Assessment; Financial Uncertainty; Volatility; Financial Markets; Financial Development; Country Risks; Sovereign Debt Markets;
    All these keywords.

    JEL classification:

    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications

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