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Management practices and resilience to shocks: Evidence from COVID-19

Author

Listed:
  • Schivardi, Fabiano
  • Linarello, Andrea
  • Lamorgese, Andrea

Abstract

Do organizational practices help or hinder the firm's capacity to adapt to a changing environment? We use the spread of COVID-19 in Italy, the first Western country hit by the pandemic, to investigate the role of structured management practices in responding to a large shock. We find a sizable, positive effect of structured management practices on firm performance: a one-standard deviation increase in the management score reduces the drop in year-ahead expected sales by 30 percent. Evidence points to the fact that firms with more structured practices were more likely to implement a comprehensive set of changes, such as demand, supply chain and labor management, including more intense use of remote work.

Suggested Citation

  • Schivardi, Fabiano & Linarello, Andrea & Lamorgese, Andrea, 2022. "Management practices and resilience to shocks: Evidence from COVID-19," CEPR Discussion Papers 15987, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:15987
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    More about this item

    Keywords

    Management; Firm performance; Covid-19;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

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