عنوان انگلیسی مقاله:
Staying alive during an unfolding crisis: How SMEs ward off impending disaster
ترجمه فارسی عنوان مقاله:
زنده ماندن در طی یک بحران در حال گسترش: چگونه SME ها فاجعه قریب الوقوع را دفع می کنند
Sciencedirect - Elsevier - Journal of Business Venturing Insights, 14 (2020) e00187: doi:10:1016/j:jbvi:2020:e00187
What measures are SMEs most likely to take in order to make ends meet in the face of a “black swan” external shock? That is the question we explore in this study, drawing upon unique data from 456 SMEs in the midst of an unfolding crisis. Our ﬁndings demonstrate how SMEs acted immediately by deferring investments, reducing labor costs, reducing expenses, and negotiating contracts and terms. Moreover, the data highlight how SMEs in an unfolding crisis are reluctant to commit to any action that will increase their debt-to-equity ratio. The ﬁndings suggest new questions to be explored in relation to actions during an unfolding crisis, post-crisis businesses, entrepreneurial failure, and entrepreneur/entrepreneurial team characteristics. Implications for policy and practice are provided. At this moment it is all about reacting to a sequence of events that has never been so rapid. It is somewhat like slalom skiing, where someone is constantly moving the gates [that we need to pass through].– Stefan Ingves, Governor of the Swedish central bank, in an interview published in Dagens Nyheter, April 3, 2020.
Keywords: Shock | Crisis | Entrepreneurship | Coronavirus | COVID-19 | Outcome | Actions