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The purpose of this paper is to investigate whether board diversity in human capital and social capital effectively mitigates the negative impacts of crises on firm performance.

Cross-sectional time series data for 2001-2011 are collected from all the tourism-related public listed firms across four Asian markets. Linear and non-linear effects of board diversity on firm performance are examined.

This study finds that board diversity in human capital and social capital does not significantly improve firm performance, but it significantly mitigates the negative impacts of crises striking firm performance. The effects of board diversity show difference with sudden and gradual crises. The effects of board diversity show non-linear when tackling sudden crises. Only high levels of board diversity in external network ties are effective to tackle gradual crisis.

The best composition of board capital should depend on the external environment. Only through adopting excessively high board diversity in social capital is suitable when the firms have lower frequency of industry cycle, or prone to the crisis which is likely to sustain. Instead, a moderate level of board diversity in human and social capital is crucial if the firms are always situated in harsh circumstances such as high competition environment, or prone to face industrial bubble.

This study directly investigates board diversity in human capital and social capital, rather than investigating through the proxy of age, gender, ethnicity, etc. This study sheds light on the influence of the board diversity in the crisis periods, the findings are enhanced with the classification of crises into sudden and gradual-onset type.

The purpose of this paper is to examine empirical characteristics of two commonly mentioned expressions of international financial crisis, “sudden stops” and currency crises.

Sudden stop and currency crisis events are identified and empirical regularities among them are analyzed based on the annual data of 25 emerging market countries from 1990 to 2003.

Puzzlingly, these two seemingly close expressions of crises overlap less than 50 percent of the time and sudden stops more frequently precede than follow currency crises. Also the two different sudden stop measures are not strongly correlated with each other.

This shows that it can make a great deal of difference what measure is used and suggests that studies in this area should be sure to check the robustness of their results to different measures.

The authors think that the proper analysis should focus on how to use these different measures to understand the nature of the crises. Thus, sudden stop and currency crisis measures should be used as complements, rather than substitutes.

The alarming frequency of the emerging market crises during the last three decades has motivated a large volume of theoretical and empirical literature on the subject. The paper's results advance understanding of these events.

A large body of studies on currency crises coexists with a growing literature on sudden stops yet a majority of the studies that investigate either one of these phenomena do not mention the other. The paper adds value by investigating empirical relationships between them.

The aim of this chapter is to understand effects of the recent crisis on the financial constraints that small and medium size enterprises have experienced in emerging economies. Using the firm level survey data provided by the World Bank, a descriptive analysis is conducted by calculating the average of the financial obstacles that the firms had experienced before and after the crisis, and the existence of statistical difference between the two periods is tested. The results indicate that the small and medium size enterprises suffer more from financial constraints relative to large firms. Financial constraints that the small and medium size firms had experienced are largely affected by the recent global financial crisis, relative to the large firms. However, effects of the financial constraints on real variables such as investment, innovation, and research and development expenditures cannot be examined due to data limitations. This chapter contributes to the limited literature of financial constraints experienced by the small and medium enterprises in emerging economies by taking the effect of the recent global financial crisis into account. The novelty of this chapter comes from the dataset: “The World Bank’s World Business Environment Surveys,” which provides a large sample of emerging countries.

The aim of this paper is to study the development of a smoldering crisis over time. The focus is on a nationwide news media and online news communication related to a smoldering crisis running in the Danish healthcare system since 2016: the problematic implementation of a large-scale electronic health record (EHR), technology entitled Sundhedsplatformen (SP), in the hospitals of the capital region of Denmark.

Based on insights from crisis communication theories and in particular rhetorical arena theory (RAT), traces of SP smoldering crisis and patterns of discursive strategies are identified and explained from a longitudinal perspective to explain the communicative complexity that characterizes this smoldering crisis. To build an understanding of how this smoldering crisis is perceived, followed and kept alive, an analysis of (de)legitimation discursive strategies employed strategically by various actors and voices in news articles is conducted in relation to four communicative themes: issue identification, warnings, blame attribution and potential solutions.

It has been found that a legitimacy deficit emerges communicatively through specific (de)legitimation strategies during this smoldering crisis. New insights into RAT (Frandsen and Johansen, 2017) are also provided.

This study is not only of theoretical relevance, but it is also of practical relevance for public relation professionals who aim to identify characteristics of starting smoldering crises as well as to find strategic responses to the ongoing challenges and the developing over time of smoldering crises.

New insights into RAT (Frandsen and Johansen, 2017) are provided.

In responding to unanticipated challenges during the course of a project, lessons from crisis management research can be valuable. Effective project management requires both a proactive and reactive strategy in dealing with unanticipated and challenging events. A key element of success is developing a learning culture, which permits flexibility within a systematic problem‐solving approach. We indicate how this can be achieved using a crisis management model and use data gathered from the National Museum of Australia project to demonstrate the potential benefits of a learning which encourages solution‐building by teams.

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

When Hurricane Katrina ravaged New Orleans in September 2005, there was one organization that stood head and shoulders above the others in helping the communities survive the chaos and devastation that followed. Immediately after the hurricane struck, key Wal‐Mart employees acted instinctively and decisively by opening up their stores and giving out vital supplies of food, water and clothing to victims in the area. In addition, the company's CEO, Lee Scott, sent $3 million of supplies by haulage and contributed a further $17 million in cash to the relief efforts. Because they had an effective crisis management process in place, Wal‐Mart was able to re‐open 113 of its 126 stores affected by the hurricane just 18 days after disaster struck.

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Little research has focused on the impact of organizational crisis on their internal stakeholders – the employees. This paper aims to fill this void by examining the impression management strategies used by senior managers in managing their employees during organizational crisis and the impact of these strategies on employees.

The authors collected qualitative data from three organizations and used multiple analytical lenses (such as thematic, content and trope) to explore patterns in senior managers’ management of employees during crisis.

Emerging patterns in the data revealed that the emotional state and reactions of employees (individual and collective) during crisis include anger, fear, shame, depression and shock. Additionally, data revealed two major contradictions (tensions) in managing employees during crisis: maintaining and compromising standard and managers’ wants versus employees’ desire in the way organization crisis is managed. Based on these preliminary findings and using affective event theory and the theory of collective emotions as a frame, the authors built a conceptual model that depicts the relationship between organizational crisis, impression management and emotion-driven employee attitudes and behaviors.

A major limitation in the current research is that authors’ data are largely composed of text (e.g. from newspaper and websites). Nevertheless, the textual data were based on actual interviews with stakeholders and victims and have more than compensated for the limitation. Theoretically, by examining the emotional states and reactions of internal (rather than external) stakeholders to organizational crisis, the authors extend the literature in the area of organizational crisis and crisis management, while the testable propositions in this conceptual model have a potential to open up new pathways for studying organizational crisis. Practically, it is imperative for managers to have skills to identify and manage key employees’ emotional states and reactions to crisis. Managers should align their words and actions during crisis management to increase employees trust. Also pre-crisis planning should include specific guidelines on how to identify and manage employees’ individual and collective emotions during crisis.

The results show that inappropriate impression management strategies may worsen employees’ emotional states and reactions (individual and collective) during crisis; therefore, it is imperative for managers to have skills in identifying key employees’ emotional states and reactions to crisis and the impression management strategies appropriate in managing them. A training that sharpens managers’ emotional intelligence will be helpful in managing the emotions of employees (individual and collective) during crisis. Also, pre-crisis planning should include specific guidelines on how to identify and manage employees’ individual and collective emotions during crisis, while senior managers’ words and actions during crisis need to be synchronized to engender employees’ trust.

This study demonstrates that beyond emotions of employees during crisis, there are contradictions and tensions in the senior manager’s management of their employees during crisis. Also, outcomes of a quantitative test of the conceptual model developed from the current study should improve the generalizability of the results and open up new pathways for future research in this area.

This article aims to explore the tragic nature of crisis and identify managers’ decision-making processes and strategies when they are trapped by events beyond their understanding and control. In this article, the tragic is viewed as the collision of an overdetermined scenario perceived as inevitable, insurmountable and irreparable and the managers' strategies to free themselves from this scenario and divert its trajectory.

We make a crossed literature review between crisis management and Greek tragedy as proposed by scholars in classical literature.

We make two theoretical contributions to the literature on crisis management. First, we articulate a set of research proposals into a model to explain how managers' decisions make the crisis tragic. Second, we enrich the field of crisis management by highlighting strategies in order to avoid them.

We use Greek tragedy, not as a metaphor to characterize the consequences of crises as the authors usually do, but as an analytical lens to explore their inexorable, insurmountable and irremediable nature and the decisions made by managers that would make crises tragic.