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This paper investigates financial resilience within selected micro small and medium enterprises (MSMEs) and how it is used as a growth tool amidst coronavirus disease 2019 (COVID-19) threats.

An appreciative inquiry qualitative approach using a positive orientation with a case study design instead of the conventional problem-oriented approach was used. It focuses on successful MSMEs that experienced growth amidst the first wave of COVID-19 despite the large number of MSMEs that were affected negatively by the pandemic.

The results indicate that the MSMEs that were growing at an epic rate during COVID-19 exhibited financial resilience due to savings, innovative leadership, financial knowledge, experience and social capital. These businesses maintained client relationships and accessed financial capital.

The study was qualitative based on a few cases.

Business owners/managers should learn financial literacy, entrepreneurial skills and leadership skills and build social capital which are tenets of financial resilience during turbulent times.

The study contributes to the continuity of MSMEs in developing economies during times of uncertainty.

The purpose of this study was to investigate the relationship between income shock suffered during the coronavirus pandemic and subsequent financial well-being (FWB) of Indian adults, mediated by financial resilience (FR) and psychological resilience (PR).

The authors propose a conceptual model for the relationship between income shock and FWB, with FR and PR as mediator variables. The authors consider four dimensions of financial resilience: economic resources, financial inclusion, financial knowledge and social capital. This study uses a unidimensional scale for PR. Data were collected from 370 respondents from 11 cities across India. Structural equation models were built to test the proposed hypotheses.

Income shock was negatively associated with FWB. Estimated path coefficients for FR and PR were statistically significant and confirmed a mediating role. Among the four dimensions of financial resilience, only economic resources were positively associated with FWB. The mediation relation between economic resources and FWB was larger than PR.

Since convenience sampling was used to collect data, the results of this study are indicative but not generalizable.

For individuals who suffered income shocks during the pandemic, adequate economic resources are crucial for FWB. Governmental disbursements, personal savings and medical or life insurance could provide an adequate safety net.

There are no extant studies that examine the association between income shocks and FWB in the pandemic, and this study contributes to the literature.

The paper examines financial resilience responses/capacities of governments from Liberia, Sierra Leone and Ghana in relation to COVID-19. It highlights the governments’ fiscal, budgetary and actions as either anticipatory or coping mechanisms towards the pandemic.

Multiple case studies and secondary data were used, including official government documentation/records, expert views, policy publications by supranational organisations and international financial institutions and media reports. Textual analysis was conducted to evaluate the case countries’ resilience.

The paper highlights how governmental budgetary initiatives, including repurposing the manufacturing sector, can sustain businesses, aid social interventions and reduce vulnerability during health crises. In addition, the paper highlights that external borrowing continues to be indispensable in the financial and budgetary initiatives of the case countries. The paper finds that lessons learnt from the Ebola Virus Disease (EVD) in West Africa within the last decade have shaped the anticipatory resilience capacities of the case countries against COVID-19.

The paper uses the notion of resilience, the dimensions of the resilience framework and the resource-based view (RBV) theory to unearth resilience patterns. This sort of combined approach is new to financial resilience studies.

Preserving sufficient financial assets is crucial for maintaining the standard of living. The lack of adequate financial cushion can translate into financial hardship at any age, but its effects can be especially severe in later adulthood. The authors evaluate whether financial literacy can prevent individuals from depleting the stock of liquid financial assets below a predefined minimum level.

Defining financial resilience as the ability to maintain the value of household savings above the level of 3-monthly incomes, the authors examined whether financial literacy is (1) prospectively associated with the probability of losing financial resilience and (2) the probability of gaining financial resilience among financially vulnerable middle-aged and older adults. To this end, the authors applied the multivariate Cox proportional hazards model with time-varying covariates. Data were retrieved from the Survey of Health, Aging and Retirement in Europe with the sample comprising 13,718 adults aged ≥ 50 years in (1) and 12,802 in (2).

The authors show that financial literacy plays a protective role for financial resilience. Its role is not symmetrical and protects more against the loss of financial resilience than it contributes to the gain of financial resilience. Among individuals aged 65–74, the association between financial literacy and financial resilience is weaker than among adults in the middle-age (50–64) and among the oldest (75+).

Fostering financial literacy can be important to help middle-aged and older adults maintain a good quality of life and favorable living standards.

Given the scarce evidence on the links between financial literacy and financial resilience among middle-aged and older adults, the article contributes to the literature by examining whether financial literacy retains its protective role in later stages of the life course.

This paper is motivated by the gap between the extensive academic discussion of industrial resilience and the limited resilience observed in response to large disruptions. Its purpose is to investigate the relationship between the industrial resilience of manufacturing and service operations and the resilience of the supporting financial, legal and political systems. This research identifies the impact of high or low levels of resilience in these supporting systems on the ability of industrial operations to perform as required in disrupted environments.

The authors combine a multi-disciplinary literature review with empirical data from four exploratory case studies. First, the authors review the literature on resilience in the fields of operations management, finance, law and political science to bring the terminology and concepts of these fields closer together. This review also defines the independent variables of the study: financial, legal and political resilience. Second, the authors use the framework from the literature to analyse data from four case studies of operations in difference contexts and sectors.

Industrial resilience is interdisciplinary, nuanced and complex. High levels of industrial resilience require high levels of financial, legal and political resilience. However, the activities required to improve the resilience of these supporting systems are often outside the locus of control of operations managers. Multiple perspectives on resilience must be coordinated to strengthen the response of industrial operations to large disruptions.

As a conceptual and exploratory study, this paper does not utilise quantitative data or in-depth case studies. The authors demonstrate the importance of an interdisciplinary perspective on industrial resilience and provide a theoretical framework that can serve as a foundation to further studies of resilience. The review of the literature provides a glossary of definitions of resilience that improves clarity in this disparate field.

Managers can apply the findings of this work to start cross-functional discussions in their firms that recognise the multiple dimensions of industrial resilience and improve the resilience of the supporting systems. The exploratory case studies provide concrete guidance for how managers in the fields of humanitarian and development operations, healthcare and manufacturing can improve industrial resilience by considering the interaction with the supporting financial, legal and political systems.

This study is the first to provide detailed conceptual discussion and empirical evidence for the interdisciplinary nature of industrial resilience in the context of public sector and non-governmental organisations. Combining evidence from different contexts and sectors demonstrates the broad industrial value of this work.

Covid-19 sparked new interest in consumer financial resilience (CFR) amongst regulatory authorities, financial institutions, policymakers and the academia. No financial and health crisis has been worse than Covid-19, erasing the growth momentum of nations at all development stages. This study measures consumers' current financial resilience and future expectations within India's emerging market and its likely response to policy measures.

CFR is investigated using individual household data on economic state, employment, income and savings from the Reserve Bank of India's consumer confidence survey. The empirical approach is based on the temporal time-series data with mixed frequency regression. Consumers' current and future expectation indices appear as the regressand, whereas credit-deposit ratio, credit outstanding, number of bank accounts and digital transactions act as main regressors.

The response of consumers' current situation is 3.50 times higher than that of their future expectations. This implies that a rise in the credit-deposit ratio and credit line positively affects CFR. In contrast, a higher number of bank accounts, a proxy for financial inclusion, adversely affect consumer's well-being possibly owing to the government's failure to provide financial support through banking networks. Digital payments (value) positively affect consumers' current situation and future expectations.

The results of this study inform policy formulation for enhancing financial resilience. Consumer sentiment index acts as a proxy for CFR.

Financial resilience is a concern for policymakers. This study is one of the first studies linking CFR with financial inclusion, credit creation and digital financial capability.

The current study is to examine the association between cognitive abilities and financial resilience among millennial single parents. This study examines the role of cognitive abilities on financial resilience after controlling for key demographic variables – gender, age, university degree, employment status and staying with parents.

Using the ordered logit regression approach, the authors analyzed results for 395 single parents (237 single mothers and 159 single fathers) aged 31 to 40 in India. Financial resilience is measured using economic resources, financial resources, financial knowledge and behavior, and social capital. The authors further provide several robustness tests to validate their findings. The results are controlled for state-fixed effects.

The authors find a significant impact of single parents' cognitive abilities on their financial resilience. This study also found that gender, age, university degree, employment status and staying with parents influence single parents' financial resilience. Single mothers are found to have higher levels of both cognitive abilities and financial resilience scores than single fathers.

Financial institutions, marketers and financial advisors can find innovative ways to increase the financial resilience of single parents by improving their cognitive ability. Also, policymakers should focus on interventions to increase single parents' education level to increase their financial resilience and provide policy support to those without any parental support system.

This study extends the literature on financial resilience in two directions – by establishing a relationship between cognitive abilities and financial resilience and studying the financial resilience of a vulnerable societal section-millennial single parents. The study also extends the literature on single parents' financial vulnerability by establishing a relationship between key demographic variables and their financial resilience.

The purpose of this study is to examine the association between employment status and financial resilience during the COVID-19 pandemic.

This study employed US nationally representative data. A financial resilience index was created based on households' ability to pay for basic living expenses and the resources used to meet such needs. Employment status was categorized into seven groups based on whether the respondent worked for pay in the last seven days, experience of income shock since the start of the pandemic for workers' household and reasons for not working for non-workers' household. A generalized linear model (GLM) model was used to examine the relationship between respondent employment status and household financial resilience. An ordinary least square (OLS) logistic regression with no proportional odds assumption was employed to investigate the association between the respondent's employment status and household ability to pay for basic living expenses. A logistic regression was utilized to explore the relationship between respondent employment status and resources used by the household to pay for basic living expenses.

The top three least financially resilient households include those in which the respondent's work was affected by the pandemic, the respondent did not work due to being sick with COVID or caring for someone with COVID and the respondent did not work due to fear of COVID.

Future research should distinguish the reasons for not working when examining the association between unemployment and household financial resilience as well as their overall financial wellbeing. Cross-sectional data cannot establish a causal relationship. Findings using US data may not be generalized to other countries.

Workers with health and employment risks and financial professionals working with these clients should consider these risks when building household financial safety net. Policymakers should develop measures to allow normal business operations while effectively contain the spread of the COVID-19 virus.

This study created a financial resilience index that considers various household situations, allows both internal and external resources to be utilized to cover basic living expenses and reflects the diverse nature of financial resilience. This study is the first to look into voluntary and involuntary labor force separation for COVID-19 and non-COVID-19 related reasons.

This paper explores the direct and indirect associations between financial resilience and life satisfaction, using the moderation of non-impulsive behavior and mediation of financial satisfaction.

The authors analyze the Australian household dataset, named the Household, Income and Labour Dynamics in Australia (HILDA) Survey, to meet the objectives of this paper. Furthermore, the authors use the PROCESS Models 4 and 7 to test the mediation and the combined moderated mediation relationships, respectively.

The authors find the complete mediation of the relationship between financial resilience and life satisfaction by financial satisfaction. Also, this study finds that both financial resilience and non-impulsive behavior positively contribute to financial satisfaction, which is positively associated with life satisfaction.

This research supports the need for consumers to build emergency funds as financial resilience is related to consumer well-being. This research also recommends that impulsive behavior should be addressed by the personal finance curriculum and financial advisors.

This research contributes by showing that financial satisfaction is an important predictor of consumers’ well-being. The ability to access financial resources, which increases for non-impulsive consumers, is associated with increased life satisfaction but only via financial satisfaction.

This paper aims to identify, classify and rank the contributing factors to financial resilience.

The present study is of a mixed-method and significant contributing factors have been identified after analyzing and reviewing the literature on resilience and financial resilience. These factors were classified and ranked using the analytic hierarchy process method. This paper operationalizes the concept of financial resilience.

The study results show that consistency in production and sales, access to a reliable supply chain, management ability to environmental adaptability, regional dimension and social support from the government’s side are among the determining factors in financial resilience at the market level. Some elements such as flexibility, risk identification, income, foreign exchange benefits, innovation in presenting goods and services, firm size and responsiveness of partners and beneficiaries inside and outside the organization are among the leading contributing factors at the organization level and management manner. Finally, the staff’s efficiency in using organization resources, shareholder staff and learning culture in the organization are among the main contributing factors to financial resilience under the staff’s influence.

The study results may give managers direction to evaluate companies’ resilience, especially in the emerging economy; besides, it improves the literature on the topic.