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Firm Resources, Strategies, and Survival and Growth during COVID-19: Evidence from Two-WaveGlobal Surveys

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  • Fang,Sheng
  • Goh,Chorching
  • Li,Shaomin
  • Xu,L. Colin

Abstract

This study examines how firms have made strategic choices and performed during the COVID-19pandemic. Drawing on the organizational resources and strategic change literature, it uses World Bank EnterpriseSurveys and the COVID-19 Follow-up Enterprise Surveys to examine how different endowments in organizational resourcesaffected firm performance as measured by their survival status and sales growth, and how these resources interactwith and affect strategic responses in the supply of inputs, response to changing demand, liquidity management, andinnovation. The results indicate that larger firms, firms with foreign or state ownership, and subsidiary companiesperformed better during the pandemic by more effectively stabilizing supply, managing liquidity, and fostering newproduct development. Chief executive officers with longer tenure improved survival rates. Firms in richer countrieshave coped with the pandemic better and stringent government COVID-19 control policies have tended to hurt firms' performance.

Suggested Citation

  • Fang,Sheng & Goh,Chorching & Li,Shaomin & Xu,L. Colin, 2022. "Firm Resources, Strategies, and Survival and Growth during COVID-19: Evidence from Two-WaveGlobal Surveys," Policy Research Working Paper Series 9997, The World Bank.
    • Handle: RePEc:wbk:wbrwps:9997
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    References listed on IDEAS

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