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Against the theoretical backdrop of the embeddedness and the resilience literatures, this paper investigates if and how SMEs' planning for adversity affects firms' performance.

The paper develops hypotheses that investigate the link between the risk management of immigrant-led and native-led SMEs and their performance and draw on novel data from a survey on 900 immigrant- and 2,416 native-led SMEs in 5 European cities to test them.

Immigrant-led SMEs are less likely to implement an adversity plan, especially when they are in an enclave sector. However, adversity planning is important to enhance the growth of immigrant-led businesses, even outside a crisis period, and it reduces the performance gap vis-à-vis native-led businesses. Inversely, the positive association between adversity planning and growth in the sample of native entrepreneurs is mainly driven by entrepreneurs who have experienced a severe crisis in the past.

This paper empirically uses planning for adversity as an anticipation stage of organizational resilience and tests it in the context of immigrant and native-led SMEs. Results support the theoretical reasoning that regularly scanning for threats and seeking information beyond the local community equips immigrant-led SMEs with a broader structural network which translates into new organizational capabilities. Furthermore, results contribute to the process-based view of resilience demonstrating that regularly planning for adversity builds a firm's resilience potential, though the effect is contingent on the nationality of the leaders.

The authors investigate the durability of international entrepreneurial cognitions. Specifically, they examine how advanced business education and the Covid-19 pandemic influence international entrepreneurial orientation disposition (IEOD), and subsequently entrepreneurial intentions (EIs), to better understand the psychological dynamics underpinning the drivers of international entrepreneurship.

Against the backdrop of emerging entrepreneurial cognition and international entrepreneurial orientation research, the authors theorize that both a planned business education intervention (voluntary) and an unforeseeable radical environmental (involuntary) change constitute cognitive shocks impacting the disposition and intention to engage in entrepreneurial efforts. The authors use pre- and post-Covid-19 panel data (n = 233) and uniquely identify the idiosyncratic cognitive effects of Covid-19 through changes in the OCEAN personality assessment.

Findings demonstrate that when individuals' perceived psychological impact of Covid-19 is low, business education increases IEOD. Conversely, the effects of a strongly perceived Covid-19 impact reduce the risk-taking and proactiveness components of the IEOD scale. The authors trace the same effects forward to EIs.

This paper contributes to a greater understanding of the resilience of entrepreneurial dispositions through an empirical test of the IEOD scale and shows its boundary conditions under planned intervention as well as unplanned externally induced shock.

The study offers a first benchmark to practitioners of the malleability of international entrepreneurial dispositions and discusses the potential to encourage international entrepreneurial behaviour and the individual-level dispositional risk posed by exogenous shocks.

The study uniquely employs a baseline measure of all our constructs pre-Covid-19 to discern and isolate the pandemic impact on entrepreneurial dispositions and intentions, responding to recent calls for more experimental designs in entrepreneurship research.

In this paper, after an elucidation of several central concepts of the topic, the author focuses on the sales channels in tourism and clarifies the role retailers play in the market. He shows that the existence of institutional travel retailers is generally based on transaction costs, and that thanks to the automation the level of dependence on transaction costs can be reduced. This thesis induces the question to what extent the retailers' performances can be automated. In answer to this question the author creates a list of criteria including the following aspects; the general and occasional suitability of retail products (e g tickets, travel packages), the availability of technical equipment and information necessary for the automation at the points of sale and in the households (buyers), the level of complexity and acceptance regarding the handling of automated travel services. The paper comes to the conclusion that the automation of travel services will probably be used mainly by business travelers, whereas private customers will more likely keep their affinity for conventional retailers.