Search results

Poland was coined a ‘green island’ during the Global Financial Crisis (GFC) of 2007–2009 with a stable growth in Gross Domestic Product (GDP), while other countries experienced a dramatic drop in the GDP growth. We assumed that this is due to the stronger resilience of Polish economy and Polish companies.

The aim of the research is to identify the companies' stability (resilience) in the crisis situations (especially the GFC and COVID-19 crisis). We also wonder whether corporate resilience is accompanied by the financial flexibility.

We use GDP growth rate and Profitability as the measures of the resilience. Additionally, we include in our research financial flexibility measured by debt and cash ratio as factors affecting corporate resilience. Our research covers the period 2000–2021. Our data refer to three European countries: France and Germany as the leading European countries and Poland as the leader of changes in Central and Eastern Europe.

We found that Polish economy – against German and French – have higher GDP growth and profitability ratio over the 2000–2021 period. These ratios also show lower volatility around the trend. We proved that higher corporate resilience is accompanied by higher financial flexibility of Polish companies.

Critical infrastructures (CIs) are essential components of the built environment. They ensure the interconnectivity and good operability of any major urban environment. CIs are exposed to several disruptions such as natural events, hazards or threats that may disturb their normal functionality. These disruptions may impact societies not only from a socio-economic perspective but also environmentally. Therefore, ensuring the resilience of CIs is crucial to modern cities. This paper aims to explore the main standards and criteria used to assess the resilience of CIs.

A three-stage systematic review process was adopted to retrieve relevant papers. A total of 44 papers were carefully selected, and the content analysis technique was used to thoroughly analyse the papers.

Results show that researchers’ interest to investigate the assessment criteria of CIs resilience increased after 2004. Further, a total of 28 resilience criteria of CIs were identified, of which the most reported ones are organisational resilience; performance loss, disruption and recovery process; resilience metrics and index; safety, security and risk analysis; societies/communities’ resilience and/or social-equity responsibility; dynamic networks connectivity; resilience through design and structural integrity; and economic resilience.

The findings of this research will serve as a solid foundation for the development of hypothesis for future empirical studies into the development of assessment criteria index for CI resilience. Further, the outcomes will contribute to the ongoing international discussions and debate on the appropriate ways to develop CI resilience.

This systematic literature review analyzes the academic literature to understand SC risk and resilience across different organizational sizes and industries. The academic literature has well discussed the causes of supply chain (SC) risk events, the impact of SC disruptions, and associated plans for SC resilience. However, the literature remains fragmented on the role of two fundamental elements in achieving SC resilience: the firm's size and the firm's industry as firms' contingent factors. Therefore, it is important to investigate and highlight SC resilience differences by size and industry type to establish more resilient firms.

Building upon the contingent resource-based view of the firm, the authors posit that organizational factors such as size and industry sector have important roles in developing organizational resilience capabilities. This systematic literature review and analysis is based on the structural and systematic analysis of high-ranked peer-reviewed journal papers from January 2000 to June 2021 collected through three global scientific databases (i.e. ProQuest, ScienceDirect, and Google Scholar) using relevant keywords.

This systematic literature review of 230 high-quality articles shows that SC risk events can be categorized into demand, supply, organizational, operational, environmental, and network/control risk events. This study suggests that the SC resilience plans developed by startups, small and mdium-sized enterprises (SMEs), and large organizations are not necessarily the same as those of large enterprises. While collaboration and networking and risk management are the most crucial resilience capabilities for all firms, applying lean and quality management principles and utilizing information technology are more crucial for SMEs. For large firms, knowledge management and contingency planning are more important.

This study provides a comprehensive review of the literature on SC resilience plans across different organizational sizes and industries, offering new insights into the nature and dynamics of startups', SMEs', and large enterprises' SC resilience in different industries. The study highlights the need for further investigation of SC risk and resilience for startups, SMEs, and different industries on a more detailed level using empirical data. This study’s findings have important implications for researchers and practitioners and guide the development of effective SC resilience strategies for different types of firms.

The main stance of this paper is to draw an authentic and rigorous outlook in terms of the financial and operational performance of small lodging establishments (SLEs) and put forth achievable and practical economic solutions that demonstrate the relative effectiveness of the adopted measures. This paper also suggests practical solutions to help minimize SLEs' financial vulnerability to long-term crisis and to boost their resilience with relative measures by applying recovery revival strategies for this particular segment of the lodging industry.

The authors have picked a locally owned resort hotel in Central Florida area and structured a real-life, case study-based inductive approach that is purposeful and offers rich economic outlook and analysis for the entire lodging industry, especially for the resort-hotel type of accommodation facilities. The main reason for why they only focus on one company is that they can fully understand the financial effects of COVID-19 on resort type of hotels and layout countering strategies. To achieve paper objectives, they have implemented cost–benefit (C–B), break-even (B-E) analyses along with a sensitivity testing approach.

The most striking result was that during the state-mandated shutdown period in 2020, overhead and overall operational costs associated with room sales and revenues were very high during this period that shrank the contribution margin ratio for rooms CMRw (room) and eventually yielded high sales volumes to be achieved at the B-E points vs lower sales volumes with almost the same average daily rate (ADR) levels needed for the B-E levels.

Future studies should specifically delve further into a portfolio of SLEs in the region or state or nation wise because the units comprising the SLEs might be too small to muster the changes required to bounce forward for the entire lodging industry in the world.

The resort's revenue re-optimization focus should center on financial re-benchmarking and business re-viability stress under different levels of shock scenarios. According to the different scenarios and calibrations for the ADRs, room nights, net present values (NPVs) of cash flows and profit margins derived from our main analyses, minimizing expenses and preserving cash would be the best key strategy for financial recovery during an ongoing COVID-19 pandemic.

It is obvious that the lodging, hospitality and tourism industry are the hardest-hit industries by the harsh and adverse effects of COVID-19. The effects of pandemic are differently shaped on operations in different industries and subsectors. Therefore, the operational and financial evaluation for the SLEs as the core and a catalyst in the entire lodging industry can shed a light on the strategic financial recovery procedures with broadly applicable real-life and endogenous capabilities and reasoning.

This study aims to address the noted gap in comprehensive overviews detailing the developmental trajectory of Islamic finance (IF) as an interdisciplinary academic field.

The study introduces a unique approach using the combined methodologies of co-word analysis and main path analysis (MPA) by examining a broad collection of IF research articles.

The investigation identifies dominant themes and foundational works that have influenced the IF discipline. The data reveals prominent areas such as Shariah governance, financial resilience, ethical dimensions and customer-centric frameworks. The MPA offers detailed insights, narrating a journey from the foundational principles of IF to its current challenges and opportunities. This journey covers harmonizing religious beliefs with contemporary financial models, changes in regulatory landscapes and the continuous effort to align with broader socioeconomic aspirations. Emerging areas of interest include using new technologies in IF, standardizing global Islamic banking and assessing its socioeconomic effects on broader populations.

This study represents a pioneering effort to map out and deepen the understanding of the IF field, highlighting its dynamic evolution and suggesting potential avenues for future academic exploration.

Within the context of the nonprofit resiliency framework, the authors use nonprofit functional expenses and contribution revenue to explore how the COVID-19 pandemic affected the ability of nonprofits in different subsectors to carry out their mission, as well as their ability to “pivot” fundraising strategies to integrate social media and digital engagement.

The authors use IRS form 990 return data for organizations with a year-end return that includes at least six months of COVID-19 impact (“Wave 1 Effects” period) and also have a prior-year return (“Business as Usual” period). The authors use Wilcoxon signed rank tests to examine whether there are differences in our variables of interest between the two periods.

While the majority of nonprofits in most subsectors experienced a significant decrease in program spending, fundraising spending and fundraising efficiency ratios between the two time periods, the authors found variation in the change in contribution revenue and fundraising ratio between the two periods between subsectors. The authors also find that the percentage of nonprofits able to “pivot” their fundraising strategies varies by subsector between 13.33 and 31.23%.

This paper provides new information regarding the pandemic's initial effect on nonprofit program and fundraising spending, the related contribution revenue and the ability of nonprofits to “pivot” fundraising to remote strategies. The authors propose a more robust fundraising efficiency measure and a new measure indicating a nonprofit's “ability to pivot” their fundraising strategy. The authors encourage future researchers to conduct further longitudinal studies to understand how these effects may continue or change.

Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of financial literacy constant. The three big questions adopted by Lusardi and Mitchell were utilized to assess the financial literacy of our subjects before they were asked to complete 20 incentivized intertemporal decisions. A small, delayed reward and a slightly bigger one were incorporated into the intertemporal decisions with a delay of 30 days. The ordinary least square (OLS) shows that the negative relationship between financial literacy and discount rates was held when the delayed reward was small. Interestingly, when the delayed reward became slightly bigger, their discount rates were reduced significantly with the negatively framed message. These findings suggest that the negatively framed message can motivate individuals to save for a greater return in the real world. Lastly, subjects with the highest level of financial literacy were not responsive to the magnitude effect, proving that a financial literacy program is essential to strengthen the individual's financial plan and reduce their discount rates in the developing country context.

Extant research suggests that consumers value the pursuit, attainment and retention of income security and financial well-being (FWB). The authors aim to expand the relevant literature by examining how consumers' psychosocial characteristics affect and are affected by the pursuit of those objectives.

The authors utilize partial least squares structural equation modeling (PLS-SEM) to evaluate the authors' hypotheses based on a sample of USA and Canadian consumers (n = 619).

The authors' PLS-SEM results provide support for the authors' hypotheses, indicating that individuals' insecure attachments – anxious and avoidant – relate negatively to their income security and FWB. The authors' results also show that these two desirable states relate positively to individuals' undesirable state of social loneliness.

The authors' methodology and findings illuminate the positioning of psychosocial factors as antecedents to and outcomes of income security and FWB. This research also provides a basis for understanding the linear vs curvilinear influences of income security on an individual’s social life.

In the present empirical study, the authors present a rare empirical examination of individuals' income security and FWB as outcomes of their psychosocial profile vis-à-vis insecure attachments. Drawing on established psychometric scales, this study expands the consumer psychology and FWB literature, showing significant linkages between insecure attachments, income security, FWB and social loneliness.

The purpose of this study is to conduct a systematic content review and bibliometric analysis of the current research trends, core concepts and knowledge mapping on the topic Islamic Banking and Finance (IBF) during Covid-19. Apart from highlighting the contributions of prolific authors, prominent institutions and countries, a comprehensive review of a significant number of documents using co-citation and co-word analysis is carried out for the science mapping.

A data set of 125 papers was collected published in Scopus database during the period December, 2019 and January 5th, 2023. Yearly publications, most-cited papers and authors, active sources, affiliations and countries are highlighted with descriptive analysis. Knowledge structure of the topic was mapped with investigating the social, intellectual and conceptual structures of IBF research. Content analysis is carried out to uncover the underlying research clusters that shape the scientific knowledge structure of studies.

A diverse group of authors and institutions contribute to the growing body of knowledge on the topic. IBF is adopting new paradigms and frameworks to integrate FinTech, crowd funding and Islamic social finance to provide sustainable solutions in both crisis and normal periods. The research on IBF is classified in to three themes: “financial markets in Covid-19,” “modeling risk and market regimes” and “FinTech and Islamic social finance.”

This study collects data only from Scopus database. Future studies must include research articles from other databases such as, Web of Sciences.

This study highlights research gaps in the existing literature and provides directions for future research.