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A global crisis like that caused by the COVID-19 pandemic threatens the survival of any business, but especially of nascent entrepreneurs, due to their vulnerable situation. At this stage of entrepreneurship, information and communication technology capabilities (ICTCs) are critical skills that help entrepreneurs develop their new businesses, fostering economic adaptability to counteract adverse effects. This study advances knowledge of how nascent entrepreneurs react in an environment of global crisis.

The study analyzes a sample of 331 Spanish nascent entrepreneurs to determine the mediating effect of ICTCs on the relationship between the impact of a global crisis (e.g. COVID-19) and the firm’s strategic response.

The results suggest that crises influence adaptation and compensation strategies significantly and that ICTCs exert a total mediating effect on this relationship. The results do not, however, establish a clear relationship between the impact of the COVID-19 crisis and disengagement response, but rather a negative relationship, possibly influenced by government attempts to mitigate the pandemic’s economic consequences (economic aid to maintain the workforce, financial support for business model survival).

The COVID-19 crisis revealed ICT as a key technology for continuing business operations. This study analyzes how ICTCs affect nascent entrepreneurs’ strategies in crisis environments. Our analysis is important because these entrepreneurs have invested resources in their new project. We must determine their strategic response to crisis environments: adaptation, compensation or disengagement. The sample itself, collected during the pandemic, provides unique insights into the impact of the crisis on nascent business decisions.

像2019冠狀病毒病大流行等的全球危機一旦發生，各工商企業能否繼續生存必會受到威脅和影響。這影響以剛開始發展的創業者為甚，因為他們處於脆弱的處境。在這個創業階段，創業者必須擁有資訊與通訊科技能力，才能發展他們的新業務，他們亦需培養經濟上的適應能力，以能抵銷各種不利的影響。本研究擬就剛開始發展的創業者在全球危機發生時應如何應對進行探討，以增進我們對這課題的知識。

本研究分析一個涵蓋331名西班牙新生創業者的樣本，來鑒定資訊與通訊科技能力對全球危機 (如2019冠狀病毒病) 帶來的影響與企業戰略應對之間的關聯所起的中介效應。

研究結果似顯示，危機會顯著地影響企業的適應和賠償策略; 研究結果似乎也顯示，資訊與通訊科技能力會對這關聯 (全球危機所帶來的影響與企業戰略應對之間的關聯) 發揮極大的中介效應。但研究結果並沒有就2019冠狀病毒病危機的影響與脫離反應、建立明確的關聯。反之，研究結果似顯示兩者有一個負相關的關係，這可能是因為政府施行應對方法，以減輕大流行所帶來的經濟後果所致 (這些應對方法包括用以維持勞動力隊伍的經濟援助、和使商業模式能繼續生存的財政支援) 。

2019冠狀病毒病危機揭示了資訊與通訊科技是讓商業運作能繼續進行的關鍵技術。本研究分析資訊與通訊科技能力如何於危機發生時影響新生創業者的策略。我們的分析有其重要性，這是因為這些創業者把資源投入他們的新項目; 我們必須鑒定他們對危機所採取的戰略對策: 適應、賠償和脫離。取自大流行期間有關的樣本本身已能就危機如何影響新生創業者的商務決策、提供獨特的啟示。

Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the constantly developing subject of stock market volatility during crises. In outline, this study aims to map the extant literature available on stock market volatility during crisis periods.

The present study reviews 1,283 journal articles from the Scopus database published between 1994 and 2022, using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 flow diagram. Bibliometric analysis through software like R studio and VOSviewer has been performed, that is, annual publication trend analysis, journal analysis, citation analysis, author influence analysis, analysis of affiliations, analysis of countries and regions, keyword analysis, thematic mapping, co-occurrence analysis, bibliographic coupling, co-citation analysis, Bradford’s law and Lotka’s law, to map the existing literature and identify the gaps.

The literature on the effects of crises on volatility in financial markets has grown in recent years. It was discovered that volatility intensified during crises. This increased volatility can be linked to COVID-19 and the global financial crisis of 2008, as both had massive effects on the world economy. Moreover, we identify specific patterns and factors contributing to increased volatility, providing valuable insights for further research and decision-making.

The present study is confined to the areas of economics, econometrics and finance, business, management and accounting and social sciences. Future studies could be conducted considering a broader perspective.

Most of the available literature has focused on the impact of some particular crises on the volatility of financial markets. The present study is not limited to some specific crises, and the suggested research directions will serve as a guide for future research.

Employee recognition systems are ubiquitous in organizations (WorldatWork, 2019) and have positive effects on work outcomes (e.g. Stajkovic and Luthans, 2001). However, psychologically meaningful recognition relies on the recognition giver being motivated to observe and recognize coworkers. Crises such as the COVID-19 pandemic may impact recognition giving in varying ways, yet little research considers this possibility.

This longitudinal field study examined the impact of the COVID-19 crisis on recognition and acknowledgment giving among frontline and nonfrontline healthcare workers at daily and aggregated levels. We tested the relationships between publicly available daily indicators of COVID-19 and objectively measured daily recognition and acknowledgment giving within a web-based platform.

We found that the amount of daily recognition giving was no different during the crisis compared to the year before, but fewer employees gave recognition, and significantly more recognition was given on days when COVID-19 indicators were relatively high. In contrast, the amount of acknowledgment giving was significantly lower in frontline staff and significantly higher in nonfrontline staff during the pandemic than before, but on a daily-level, acknowledgment was unrelated to COVID-19 indicators.

Our results suggest that organizational crises may at once inhibit and stimulate employee recognition and acknowledgment.

Our research is the first to empirically demonstrate that situational factors associated with a crisis can impact recognition giving behavior, and they do so in ways consistent with ostensibly contradictory theories.

The aim is to understand how goal orientation may help entrepreneurs maintain life satisfaction when faced with multiple crisis episodes. To do so, the authors study the early impact of COVID-19 on the life satisfaction of entrepreneurs who were previously faced with venture distress.

Data on 164 Belgian entrepreneurs, who were faced with previous venture distress, are used. The analysis is quantitative, and uses survey data, in combination with databases. The survey was administered in the beginning of the COVID-19 pandemic (June 2020).

Entrepreneurs high in learning goal orientation are less likely, and those high in performance-avoidance orientation are more likely to experience a decline in life satisfaction. Additionally, the time span between the two crises moderates the relationship between learning goal orientation and life satisfaction. Particularly, entrepreneurs high in learning goal orientation are less likely to experience a decline in life satisfaction if more time has passed between venture distress and the COVID-19 crisis.

Often, entrepreneurs are faced with multiple episodes of distress. The authors study entrepreneurs who have been in venture distress before and are then confronted with the COVID-19 crisis. The study shows that goal orientation, which is a type of self-regulation, plays an important role in how entrepreneurs’ life satisfaction is affected. Also, the authors find that the time between distress events matters. These are important insights for practitioners, including entrepreneurs and support providers.

The study adds to the emerging discussion on the impact of crises on entrepreneurs. It studies life satisfaction (a measure of well-being) and complements studies that examine the impact of crises, on entrepreneurs’ actions and firm performance.

Global brands have become increasingly vulnerable to external disruptions that have negative spillover effects on consumers, business and brands. This research area has recently garnered interest post-pandemic yet remains fragmented. The purpose of this paper is to recognize the most impactful exogenous brand crisis (EBC) and its affective and behavioural impact on consumers.

In Study 1, we applied repertory grid technique (RGT), photo elicitation method and ANOVA comparisons, to identify the most significant EBC, in terms of repercussions on consumer purchases. In Study 2, we performed collage construction and content analysis to ascertain the impact of the identified significant crisis (from Study 1) on consumer behaviour in terms of affective and behavioural changes.

Study 1 results reveal Spread-of-diseases and Natural disaster to be the most impactful EBC based on consumer’s purchase decisions. Study 2 findings uncover three distinct themes, namely, deviant demand, emotional upheaval and community bonding that throws light on the affective and behavioural changes in consumer behaviour during the two significant EBC events.

The collated results of the two studies draw insights towards understanding the largely unexplored conceptualisation of EBC from a multi-level (micro-meso-macro) perspective. The integrated framework drawn, highlight the roles and influences of different players in exogenous brand crisis management and suggests future research agendas based on theoretical underpinnings.

To the best of our knowledge, this is the first study which identifies the most important EBC and explicates its profound impact on consumer purchase behaviour, providing critical insights to brand managers and practitioners to take an inclusive approach towards exogenous crises.

The COVID-19 pandemic severely impacted tourism, and the hotel and restaurant industry was the most affected sector, which faced issues related to business uncertainty and unemployment during the crisis. The analysis of recovery time and the influence factors is significant to support policymakers in developing an effective response and mitigating the risks associated with the tourism crisis. This study aims to investigate numerous factors affecting the recovery time of the hotel and restaurant sector after the COVID-19 crisis by using survival analysis.

This study uses the quarterly value added with the observation time from quarter 1 in 2020 to quarter 1 in 2023 to measure the recovery status. The recovery time refers to the number of quarters needed for the hotel and restaurant sector to get value added equal to or exceed the value added before the crisis. This study applies survival models, including lognormal regression, Weibull regression, and Cox regression, to investigate the effect of numerous factors on the hazard ratio of recovery time of hotels and restaurants after the COVID-19 crisis. This model accommodates all cases, including “recovered” and “not recovered yet” areas.

The empirical findings represented that the Cox regression model stratified by the area type fit the data well. The priority tourism areas had a longer recovery time than the non-priority areas, but they had a higher probability of recovery from a crisis of the same magnitude. The size of the regional gross domestic product, decentralization funds, multiplier effect, recovery time of transportation, and recovery time of the service sector had a significant impact on the probability of recovery.

This study contributes to the literature by examining the recovery time of the hotel and restaurant sector across Indonesian provinces after the COVID-19 crisis. Employing survival analysis, this study identifies the pivotal factors affecting the probability of recovery. Moreover, this study stands as a pioneer in investigating the multiplier effect of the regional tourism and its impact on the speed of recovery.

In developing countries like Tanzania, gems and jewellery industry mainly consists of disintegrated and unstable micro and small workshops which operate in a way that misalign value addition processes. This study is aimed to bridge gap by focussing on exploitation of industrial clusters in social normalisation and economic resilience to developing countries. The world economic shocks has been not only individually experienced but also globally shared while disrupted lives across all countries and communities and negatively affected global socio-economic growth.

Furthermore, the explorative design was adopted in this study in order to explore needs of respondents, and with the aim to direct the study towards a descriptive design. The sample frame consists of participants in gems and jewellery activities in Tanzania whereby sample was drawn from Dar es Salaam and Arusha. Semi-structured interview was used to collect quantitative data to establish evidence of Tanzanians’ SSJs linked to global value chains (GVCs).

Results revealed the benefits of exploitation of artisanal industrial clusters to Tanzanians’ SSJs when linked to global value chains (GVCs). Findings of the study demonstrate the importance of artisanal industrial clusters in facilitating Tanzanians’ SSJs to access GVCs. Further, insufficient education, trust and social protection directly affects inclusive GVCs, inferring that the impact of artisanal industrial clusters on inclusive GVCs in social normalisation and economic resilience.

Study findings reveals shortcomings in existing regulatory framework of linking Tanzanians’ SSJs to artisanal industrial clusters, for improvements to better support the inclusiveness in GVCs. Findings of this research invite interventions on institutional capabilities and entrepreneurial competencies to enhance the capabilities of small-scale jewellers (SSJs). Like other studies, this study involved cross-sectional data, limit targeted study population as representative of SSJs in industrial clusters and GVCs in economic crises at limited time.

The study findings makes important practical contributions to the Tanzania’s SSJs by examining mediating role of artisanal industrial clusters hence informing policymakers of mining sector how to improve accessibility on GVCs by focus on offering great institutional capabilities and entrepreneurial competencies. These findings will help SSJs and policy makers to get better understanding of the relationships in exploitation of artisanal industrial clusters when accessing GVCs. Therefore, they can make better decisions on implementing artisanal industrial clusters as well as management accessing GVCs, so that SSJs will attain the best possible performance.

This emphasises the importance of community empowerment in the GVCs process through artisanal industrial clusters. Study findings indicate the influence of industrial relations to social dynamics which are previously inadequately addressed and scantly researched. In actual fact study propose initiatives that ensure local communities benefit socially from the integration of SSJs into GVCs through artisanal industrial clusters. Findings suggest local communities that take into account inter-sectionality of artisanal industrial clusters and inclusive GVCs, by considering how factors like education, trust and social protection status intersect to influence the social inclusiveness of SSJs.

There is limited evidence of linking Tanzanians’ SSJs to GVCs in social normalisation and economic resilience and few researchers have explored this topic. This article leverages exploitation of industrial clusters in normalisation and economic resilience to developing countries such as Tanzania as way of improving shared prosperity, sustainability, inclusive growth, cohesion, value chain upgrading and financial inclusion to SSJs.

Based on cognitive appraisal theory of stress, this study develops an integrated model to examine the double-edged sword effect and boundary conditions of the impact of organizational crisis on employee behavior.

This study collected 672 employees’ data through three stages of longitudinal follow-up. Hierarchical regression analysis and SPSS macro process were used to test the hypotheses.

The paper finds that organizational crisis induces unethical pro-organizational behavior through enhanced job insecurity and foster taking charge by stimulating career calling. Employee resilience negatively moderates the relationship between organizational crisis and job insecurity as well as the indirect effects of organizational crisis on unethical pro-organizational behavior through job insecurity. Conversely, it positively moderates the association between organizational crisis and career calling and the indirect effects on taking charge through career calling.

This study not only expands the research on the mechanisms of organizational crisis' effects on employees' behaviors but also provides practical guidance for corporate managers on how to respond to organizational crisis.

The following insights are available to organizations and managers: first, this study confirms that organizational crisis can be perceived as threatening stressors that create job insecurity, which in turn leads to pro-organizational unethical behavior. Therefore, managers in organizational crisis should focus on stress regulation and guidance, pay timely attention to changes in the mindset of employees to reduce job insecurity, and strictly prohibit unethical pro-organizational behavior. They should promptly calm and control the atmosphere of panic and anxiety in the organization, do a good job of coordinating the division of labor, reduce personnel conflicts and contradictions, create a good organizational climate and reduce employees' sense of stress and negative perceptions of organizational crisis, thus reducing job insecurity and being able to meet the challenges in a better state. Secondly, this study confirms that employees also perceive organizational crisis as challenges and develop career calling, which in turn inspires proactive change behaviors. This suggests that managers in organizational crisis should promote the positive perception of organizational crisis as challenge, stimulate the career calling of employees in organizational crisis and call on and encourage employees to actively adopt taking charge. Therefore, managers should promptly give employees work affirmation, rewards and punishments, enhance the sense of participation and intrinsic motivation of subordinates, improve self-efficacy and self-confidence levels, effectively reduce the negative perception of organizational crisis, awaken positive psychological energy within individuals, increase their sense of belonging to the organization and thus, increase employees' awareness of the positive challenges of organizational crisis, stimulate employees' career calling through positive and optimistic beneficial pressure drive them to lead the corresponding changes in the crisis. Finally, this study confirms that employees' own resilience can change the double-edged sword effect of organizational crisis. Employees with high resilience are more likely to see organizational crisis as challenge and are thus more likely to develop career calling and are more inclined to initiate change, while employees with low resilience are more likely to see organizational crisis as threat, are more negatively affected by them, develop greater job insecurity and are, thus, more inclined to commit unethical pro-organizational behaviors. This reflects the fact that organizations should constantly cultivate employees' resilience and enhance their cognitive toughness at the same time. For instance, the organization can regularly use promotional lectures and scenarios to help leaders and employees establish corporate ethics, strengthen moral beliefs and correctly understand the nature of unethical affinity behavior. Managers should encourage and advocate positive and correct behaviors such as overcoming difficulties, positive innovation and positive suggestions to promote the sustainable and healthy development of the organization.

The results of this study can increase the organization’s understanding of the negative effects of crisis, help the organization take measures to manage and guide the employees in organizational crisis, more effective and targeted functional changes within the organization, reduce stress damage and improve the efficiency and effectiveness of crisis management. It is also beneficial to improve competitiveness and foresight in the organization’s industry and enhance organizations and employees’ resilience.

This study explores the double-edged sword effect of organizational crisis on employees’ behavior from the perspective of the cognitive appraisal theory of stress, which theoretically opens up a new research perspective, enriches the research in the fields of organizational crisis and taking charge, pro-organizational unethical behavior relationship and practically provides theoretical guidance for enterprises and managers on how to effectively respond to organizational crisis from the employees, which is of great practical significance.

Different age groups display different shopping patterns in terms of how and where consumers buy products. During times of crisis, such behavioural differences become even more striking yet remain under-researched with respect to elderly consumers. This paper investigates the impact of age on retail-related behavioural changes and behavioural stability of elderly shoppers (in comparison to younger consumers) during a crisis.

The authors surveyed 643 Austrian consumers to assess the impact of perceived threat on behavioural change and the moderating effect of age groups. Based on findings from this survey, they subsequently conducted 51 semi-structured interviews to understand the causes of behavioural change and behavioural stability during a crisis.

Elderly shoppers display more stable shopping behaviour during a crisis compared to younger consumers, which is influenced by perceived threat related to the crisis. Such findings indicate that elderly shoppers reinforce their learnt and embedded shopping patterns. The causes of change and stability in behaviour include environmental and inter-personal factors.

Through the lens of social cognitive theory, protection motivation theory and dual process theory, this research contributes to an improved understanding of changes in shopping behaviour of elderly consumers, its antecedents and consequences during a time of crisis. The authors reveal reasons that lead to behavioural stability, hence the absence of change, in terms of shopping during a crisis. They further outline implications for retailers that might wish to better respond to shopping behaviours of the elderly.

Recognizing novel entrepreneurial opportunities arising from a crisis is of paramount importance for firms. Hence, understanding the pivotal factors that facilitate firms in this endeavor holds significant value. This study delves into such factors within a representative empirical context impacted by a crisis, drawing insights from existing literature on opportunity recognition during such tumultuous periods.

The authors conducted a qualitative inspection of 14 Italian firms during the COVID-19 pandemic crisis. The authors collected a rich body of multi-source qualitative data, including 34 interviews (with senior managers and entrepreneurs) and secondary data (press releases, videos, web interviews, newspapers, reports and academic articles) in two phases (March–August 2020 and September–December 2020).

The results suggest the existence of a process model of opportunity recognition during crises based on five entrepreneurial influencing factors (entrepreneurial knowledge, entrepreneurial alertness, entrepreneurial proclivity, entrepreneurial personality and entrepreneurial purpose).

Various scholars have highlighted that, in times of crises, it is not easy and indeed very challenging for entrepreneurs to identify novel entrepreneurial opportunities. However, recent research has shown that crises can also positively impact entrepreneurs and their capacity to identify new entrepreneurial opportunities. Given these findings, not much research has analyzed the process by which entrepreneurs identify novel entrepreneurial opportunities during crises. This study shows that some entrepreneurial influencing factors are very important to identify new entrepreneurial opportunities during crises.