IDEAS home Printed from https://ideas.repec.org/a/spr/futbus/v11y2025i1d10.1186_s43093-025-00514-w.html
   My bibliography  Save this article

Coping with global climate change in the post-COVID-19 pandemic: the roles of business perception and resources in adaptation strategy decisions

Author

Listed:
  • Vu Minh Ngo

    (University of Economics Ho Chi Minh City)

  • Huan Huu Nguyen

    (University of Economics Ho Chi Minh City)

  • Giang Huong Thi Vuong

    (HoChiMinh University of Banking)

Abstract

Taking the context after the COVID-19 pandemic, this study provides important insights into the adaptation strategies of businesses to climate change (CC). Specifically, businesses’ decisions to adopt strategies such as business as usual, risk assessment and preparation, bearing and managing risks, or sharing and shifting risks are investigated through the lens of their perception of CC and available internal and external resources. Using the resource-based view and a sample of 335 businesses in the Mekong Delta, Vietnam, this study identifies key factors influencing these adaptation strategies. Partial least squares structural equation modeling and multigroup analysis reveal that small and medium enterprises (SMEs) are more proactive in adopting CC strategies compared to larger enterprises. While there are some limitations in the generalizability of findings with the study’s focus on a single region and reliance on cross-sectional data, this study highlights that the COVID-19 pandemic has heightened business awareness of climate change risks, moderating the impact of businesses' perceptions of CC on their adaptation choices. Policymakers should support SMEs by providing external resources and fostering collaboration to enhance climate resilience, while larger enterprises may require regulatory frameworks to prioritize internal resource allocation for climate adaptation.

Suggested Citation

  • Vu Minh Ngo & Huan Huu Nguyen & Giang Huong Thi Vuong, 2025. "Coping with global climate change in the post-COVID-19 pandemic: the roles of business perception and resources in adaptation strategy decisions," Future Business Journal, Springer, vol. 11(1), pages 1-19, December.
    • Handle: RePEc:spr:futbus:v:11:y:2025:i:1:d:10.1186_s43093-025-00514-w
    DOI: 10.1186/s43093-025-00514-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s43093-025-00514-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1186/s43093-025-00514-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Anton Shevchenko & Moren Lévesque & Mark Pagell, 2016. "Why Firms Delay Reaching True Sustainability," Journal of Management Studies, Wiley Blackwell, vol. 53(5), pages 911-935, July.
    2. Barrios, John M. & Hochberg, Yael V., 2021. "Risk perceptions and politics: Evidence from the COVID-19 pandemic," Journal of Financial Economics, Elsevier, vol. 142(2), pages 862-879.
    3. Sabine Pahl & Stephen Sheppard & Christine Boomsma & Christopher Groves, 2014. "Perceptions of time in relation to climate change," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 5(3), pages 375-388, May.
    4. Sudipta Bose & Syed Shams & Muhammad Jahangir Ali & Dessalegn Mihret, 2022. "COVID‐19 impact, sustainability performance and firm value: international evidence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 597-643, March.
    5. David Klenert & Franziska Funke & Linus Mattauch & Brian O’Callaghan, 2020. "Five Lessons from COVID-19 for Advancing Climate Change Mitigation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(4), pages 751-778, August.
    6. Danya Rumore & Todd Schenk & Lawrence Susskind, 2016. "Role-play simulations for climate change adaptation education and engagement," Nature Climate Change, Nature, vol. 6(8), pages 745-750, August.
    7. Andrew King & Michael Lenox, 2002. "Exploring the Locus of Profitable Pollution Reduction," Management Science, INFORMS, vol. 48(2), pages 289-299, February.
    8. Shashi & Piera Centobelli & Roberto Cerchione & Myriam Ertz, 2020. "Managing supply chain resilience to pursue business and environmental strategies," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1215-1246, March.
    9. Wang, Derek D. & Sueyoshi, Toshiyuki, 2018. "Climate change mitigation targets set by global firms: Overview and implications for renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 386-398.
    10. Benincasa, Emanuela & Betz, Frank & Gattini, Luca, 2024. "How do firms cope with losses from extreme weather events?," Journal of Corporate Finance, Elsevier, vol. 84(C).
    11. Gisela Wachinger & Ortwin Renn & Chloe Begg & Christian Kuhlicke, 2013. "The Risk Perception Paradox—Implications for Governance and Communication of Natural Hazards," Risk Analysis, John Wiley & Sons, vol. 33(6), pages 1049-1065, June.
    12. Allie Goldstein & Will R. Turner & Jillian Gladstone & David G. Hole, 2019. "The private sector’s climate change risk and adaptation blind spots," Nature Climate Change, Nature, vol. 9(1), pages 18-25, January.
    13. Ikujiro Nonaka, 1994. "A Dynamic Theory of Organizational Knowledge Creation," Organization Science, INFORMS, vol. 5(1), pages 14-37, February.
    14. Alexander Dahlsrud, 2008. "How corporate social responsibility is defined: an analysis of 37 definitions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 15(1), pages 1-13, January.
    15. Nguyen, Huan Huu & Ngo, Vu Minh & Tran, Anh Nguyen Tram, 2021. "Financial performances, entrepreneurial factors and coping strategy to survive in the COVID-19 pandemic: case of Vietnam," Research in International Business and Finance, Elsevier, vol. 56(C).
    16. Maurizio Zollo & Sidney G. Winter, 2002. "Deliberate Learning and the Evolution of Dynamic Capabilities," Organization Science, INFORMS, vol. 13(3), pages 339-351, June.
    17. Laura M. Canevari‐Luzardo & Frans Berkhout & Mark Pelling, 2020. "A relational view of climate adaptation in the private sector: How do value chain interactions shape business perceptions of climate risk and adaptive behaviours?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(2), pages 432-444, February.
    18. Jones, Charles A. & Levy, David L., 2007. "North American Business Strategies Towards Climate Change," European Management Journal, Elsevier, vol. 25(6), pages 428-440, December.
    19. Martina K. Linnenluecke & Andrew Griffiths & Monika I. Winn, 2013. "Firm and industry adaptation to climate change: a review of climate adaptation studies in the business and management field," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 4(5), pages 397-416, September.
    20. Scott L. Newbert, 2007. "Empirical research on the resource‐based view of the firm: an assessment and suggestions for future research," Strategic Management Journal, Wiley Blackwell, vol. 28(2), pages 121-146, February.
    21. Vuong, Giang Thi Huong & Nguyen, Manh Huu & Huynh, Anh Ngoc Quang, 2022. "Volatility spillovers from the Chinese stock market to the U.S. stock market: The role of the COVID-19 pandemic," The Journal of Economic Asymmetries, Elsevier, vol. 26(C).
    22. Elke U. Weber, 2010. "What shapes perceptions of climate change?," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 1(3), pages 332-342, May.
    23. Jill Atkins & Federica Doni & Andrea Gasperini & Sonia Artuso & Ilaria Torre & Lorena Sorrentino, 2023. "Exploring the Effectiveness of Sustainability Measurement: Which ESG Metrics Will Survive COVID-19?," Journal of Business Ethics, Springer, vol. 185(3), pages 629-646, July.
    24. George Halkos & Antonis Skouloudis & Chrisovaladis Malesios & Konstantinos Evangelinos, 2018. "Bouncing Back from Extreme Weather Events: Some Preliminary Findings on Resilience Barriers Facing Small and Medium‐Sized Enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 27(4), pages 547-559, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ran Duan & Christian Bombara & Laura Crosswell, 2024. "Are COVID-19 and climate change competing crises? New evidence on the finite pool of worry and risk-as-feelings hypotheses," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 14(2), pages 328-341, June.
    2. Lisette Beek & Manjana Milkoreit & Linda Prokopy & Jason B. Reed & Joost Vervoort & Arjan Wardekker & Roberta Weiner, 2022. "The effects of serious gaming on risk perceptions of climate tipping points," Climatic Change, Springer, vol. 170(3), pages 1-23, February.
    3. Jim Andersén, 2023. "Green resource orchestration: A critical appraisal of the use of resource orchestration in environmental management research, and a research agenda for future study," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5506-5520, December.
    4. Scaringella, Laurent & Burtschell, François, 2017. "The challenges of radical innovation in Iran: Knowledge transfer and absorptive capacity highlights — Evidence from a joint venture in the construction sector," Technological Forecasting and Social Change, Elsevier, vol. 122(C), pages 151-169.
    5. Xiao Zhang & Luqun Xie & Jiatao Li & Li Cheng, 2022. "“Outside in”: Global demand heterogeneity and dynamic capabilities of multinational enterprises," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(4), pages 709-722, June.
    6. Mercedes Bleda & Elisabeth Krull & Jonatan Pinkse & Eleni Christodoulou, 2023. "Organizational heuristics and firms' sensemaking for climate change adaptation," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 6124-6137, December.
    7. Joern H. Block & Marcus Wagner, 2014. "The Effect of Family Ownership on Different Dimensions of Corporate Social Responsibility: Evidence from Large US Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 23(7), pages 475-492, November.
    8. Hadia Baassiry, 2019. "Le management des compétences dans les pme innovantes : étude de cas au sein du secteur vitivinicole au Liban [Le Management Des Compétences Dans Les Pme Innovantes : Étude De Cas Au Sein Du Secteu," Post-Print hal-02868443, HAL.
    9. Zhong, Weiguo & Peng, Jisheng & Liu, Chunlin, 2013. "Internationalization performance of Chinese multinational companies in the developed markets," Journal of Business Research, Elsevier, vol. 66(12), pages 2479-2484.
    10. Alex Eapen & Rekha Krishnan, 2019. "Transferring Tacit Know-How: Do Opportunism Safeguards Matter for Firm Boundary Decisions?," Organization Science, INFORMS, vol. 30(4), pages 715-734, July.
    11. Maurizio Zollo, 2009. "Superstitious Learning with Rare Strategic Decisions: Theory and Evidence from Corporate Acquisitions," Organization Science, INFORMS, vol. 20(5), pages 894-908, October.
    12. Hong Y. Park & Hyejung Chang & Yong-Seung Park, 2015. "Firm’s knowledge creation structure for new product development," Cogent Business & Management, Taylor & Francis Journals, vol. 2(1), pages 1023507-102, December.
    13. Theodore Metaxas & Maria Tsavdaridou, 2017. "Environmental Policy and CSR in Petroleum Refining Companies in Greece: Content and Global Reporting Initiative (GRI) Analysis," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 19(03), pages 1-29, September.
    14. Hadia Baassiry, 2019. "Le management des compétences dans les PME innovantes : étude de cas du secteur vitivinicole au Liban," Post-Print hal-02068648, HAL.
    15. Yingying Sun & Ziqiang Han, 2018. "Climate Change Risk Perception in Taiwan: Correlation with Individual and Societal Factors," IJERPH, MDPI, vol. 15(1), pages 1-12, January.
    16. Robert P. Garrett & Chao Miao & Shanshan Qian & Tae Jun Bae, 2017. "Entrepreneurial spawning and knowledge-based perspective: a meta-analysis," Small Business Economics, Springer, vol. 49(2), pages 355-378, August.
    17. Fabio Blanco-Mesa & Omar Vinchira & Yesica Cuy, 2023. "Forgotten Factors in Knowledge Conversion and Routines: A Fuzzy Analysis of Employee Knowledge Management in Exporting Companies in Boyacá," Mathematics, MDPI, vol. 11(2), pages 1-35, January.
    18. repec:hal:gemwpa:hal-00864332 is not listed on IDEAS
    19. Li Zuo & Gregory J. Fisher & Zhi Yang, 2019. "Organizational learning and technological innovation: the distinct dimensions of novelty and meaningfulness that impact firm performance," Journal of the Academy of Marketing Science, Springer, vol. 47(6), pages 1166-1183, November.
    20. Nicolaï Foss & Nils Stieglitz, 2012. "Modern Resource-based Theory(ies)," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 20, Edward Elgar Publishing.
    21. Stav Fainshmidt & Amir Pezeshkan & M. Lance Frazier & Anil Nair & Edward Markowski, 2016. "Dynamic Capabilities and Organizational Performance: A Meta-Analytic Evaluation and Extension," Journal of Management Studies, Wiley Blackwell, vol. 53(8), pages 1348-1380, December.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:futbus:v:11:y:2025:i:1:d:10.1186_s43093-025-00514-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.