Explaining the Effective Components of Resilience of Manufacturing Companies in the Crisis Conditions of Coronavirus

Document Type : Research Paper

Authors

1 Assistant Professor, Faculty of Management, Economic & Accounting, Payame Noor University, Tehran, Iran. Corresponding Author

2 Department of Accounting, Faculty of Management, Economic & Accounting, Payame Noor University, Tehran, Iran

10.22051/jaasci.2023.43575.1772

Abstract

Purpose: The purpose of the present study is to explain the Effective Components of Resilience of manufacturing companies in Crisis conditions.
Method: This research is practical in terms of purpose and terms of methodology; the correlation is of the causal type (after event). In the systematic elimination sampling, 129 companies were selected as samples and were investigated in 8 years between 2014 and 2021. The method used to collect information is a library and data are collected for measuring variables from the codal website and corporate financial statements in Excel, basic calculations have been made then, to test the hypotheses of the software SmatrPLS was used. 
Results: The results of the research show that intellectual capital has an impact on the company's resilience in the Crisis conditions. Also, the effectiveness of the board of directors has an effect on resilience in the Crisis conditions. However, innovative activities do not affect the company's resilience in the Crisis conditions.
Conclusion: During the crisis period, companies that have more intellectual capital increase resilience.

Keywords

Main Subjects


ابراهیمی، سیدعباس؛ فیض، داوود؛ چیت‌کران، حسین. (1396)، تحلیل جامع عوامل مؤثر بر تاب­آوری سازمانی در صنایع کوچک و متوسط، پژوهشهای مدیریت منابع سازمانی، 7(3):  37-58
استادی ایرج؛ مرضیه، سلیمان پور؛ عمران، محبوبه (1396). "رابطه ی تاب آوری سازمانی با رقابت پذیری و مزیت رقابتی پایدار مورد مطالعه: شرکت سیمان بجنورد". فصلنامه آینده پژوهی مدیریت، 28 (1): 103-125.
بشیری منش، نازنین؛امیری، صغری. (1401). تأثیر بکارگیری استراتژی تجاری تهاجمی در دوره کرونا بر رابطه عملکرد اجتماعی شرکت‌ها و واکنش بازار سرمایه. حسابداری و منافع اجتماعی، 12(2):141-170.
بهرامی، امیر. (1400) ، بررسی استراتژ ی های تاب آوری کسب وکارها در مدیریت بحران و ارائه راهکارهای موثر در جهت برون رفت از بحران، همایش ملی مدیریت کسب و کار در شرایط بحران و عدم اطمینان.
جعفری، فرزین ؛ همتی، حسن. (1394). مطالعه تأثیر نوع صنعت بر روی روابط حاکمیت شرکتی و بهره‌وری شرکت‌ها. مدیریت بهره‌وری، 3(34):  7-26.28(91): 30-9.
چوپانی،حیدر؛ زارع خلیلی،مجتبی؛ قاسمی، عقیل؛ و غلام زاده، حجت. (1393). بررسی رابطه بین مدیریت دانش و سرمایه­های فکری با نوآوری سازمانی(مطالعه موردی: شرکتهای سهامی بیمه توسعه).ابتکار و خلاقیت در علوم انسانی1(2):28-56
دیانتی دیلمی، زهرا. (1391). تاثیر سرمایه فکری برحسابداری مدیریت شرکتهای پذیرفته شده در بورس اوراق بهادار تهران. حسابداری مدیریت, 5(3) 99-85..
رضائی، زینب و تامرادی، علی. (1401). بررسی رابطه بین شیوع کوید 19 و خطر سقوط قیمت سهام با تأکید بر نقش مسئولیت اجتماعی شرکت‌ها در بورس اوراق بهادار تهران. قضاوت و تصمیم گیری در حسابداری.1(4):82-51
رودری، سهیل و همایونی فر، مسعود. (1400). بررسی تاثیر شیوع ویروس کرونا بر بازار سهام ایران با لحاظ تغییرات رژیم. پژوهش‌های اقتصادی ایران. 26(87):227-195
رومیانی، زهرا، (1400)، اولویت­بندی ابعاد تاب­آوری سازمانی در شرایط بحران کرونا (مطالعه موردی بیمارستان های شهر خرم آباد)، دو فصلنامه علمی پژوهشی، سال دهم، ویژه نامه، کارشناسی ارشد مدیریت بازرگانی دانشگاه لرستان.
شمس، زهرا؛ وحدتی، حجت؛ زراعی‌متین، حسن؛ نظرپوری، هوشنگ؛ موسویف نجم الدین، (1399)، احصاء عوامل موثر بر تاب آوری سازمانی با رویکرد فراترکیب، نوع مقاله : پژوهشی (با رویکردهای کیفی). چشم انداز مدیریت دولتی. 11(3): 39-65.
طاهری نیا، مسعود؛ فضل الهی دهکردی، زهرا. (1396). تأثیر سرمایه فکری بر رقابت بازار محصول. حسابداری و منافع اجتماعی، 7(2)، 1-18.
فلاح، محمد(1399)، فراترکیب خلق تاب آوری پویا مقابل بحران کرونا در حوزه کسب وکارهای نوپا، مدیریت کسب و کارهای بین المللی، دانشکده اقتصاد و مدیریت دانشگاه تبریز، 3(10): صص 117-136.
محمدی شهرودی، حامد؛ رحیم‌نیا، فریبرز؛ ملک‌زاده، غلامرضا و خوراکیان، علیرضا. (1398). ارائه الگوی تاب‌آوری سازمانی در شرکت‌های تولیدی با رویکرد داده بنیاد. پژوهش های مدیریت عمومی.12(43):134-111
مهرافزون، امیر. (1397)، بررسی رابطه ویژگیهای هیئت مدیره و دوره تصدی مدیرعامل بر ارزش شرکتهای پذیرفته شده در بورس اوراق بهادار تهران، ماهنامه پژوهشهای مدیریت و حسابداری، شماره44، 82-99.
نمازی، محمد و  مقیمی، فاطمه. (1397). بررسی تاثیر سازه‌های مربوط به رشد نوآوری و نقش میانجی چالش‌های نوآوری بر عملکرد مالی و اقتصادی شرکت‌های بورس اوراق بهادار تهران. پژوهش های حسابداری مالی,  10 (4): 79-104.
Bahrami, A. (2021), examining business resilience strategies in crisis management and providing effective solutions to overcome the crisis, National Conference on Business Management in Crisis and Uncertainty. (In Persian)
Bashirimanesh, N; & amiri, S. (2022). The Impact of Aggressive Business Strategy in the Corona Period on the Relationship between Corporate Social Performance and Market Response. Journal of Accounting and Social Interests12(2), 141-170. (In Persian)
Brada, Josef, Paweł, Gajewski, Ali, M.Kutan, (2021), Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: A regional perspective from Central and Eastern Europe, International Review of Financial Analysis.126-138
Bravo, O; Hernández, D; (2021), measuring organizational resilience: Tracing disruptive events facing unconventional oil and gas enterprise performance in the Americas, Energy Research & Social Science 149-124.
Chen, H.L; )2014(. Board capital, CEO power and R & D investment in electronics firms. Corp. Gov. Int. Rev. 22 (5), 422–436.
Cook, D; Wang, H; )2011(. The informativeness and ability of independent multi-firm directors. J. Corp. Finance 17 (1), 108–121.
Coulombe S, Pacheco T, Cox E, Khalil C, Doucerain MM, Auger E, Meunier S.(2020) Risk and Resilience Factors During the COVID-19 Pandemic: A Snapshot of the Experiences of Canadian Workers Early on in the Crisis. Front Psychol. 174-182.
Denyer, D. (2017). Organizational Resilience: A summary of academic
evidence, business insights and new thinking. BSI and Cranfield School of Management. First published
Duchek, S; Raetze, S. & Scheuch, I. Bus Res (2019). The role of diversity in
Organizational resilience: a theoretical framework. Journal of Business Research 13, 387–423
Ebrahimi, S, A; Fayz, D & Chitkaran, H. (2016), Comprehensive analysis of factors affecting organizational resilience in small and medium industries, Organizational Resources Management Research, 7(3): 37-58. (In Persian)
Elias, A. A. (2021). Kerala’s innovations and flexibility for Covid-19 recovery: Storytelling using systems thinking. Global Journal of Flexible Systems Management. 22(Suppl 1), S33–S43.
Fallah, M. (2019), Transcombination of creating dynamic resilience against the Corona crisis in the field of start-up businesses, International Business Management, Faculty of Economics and Management, Tabriz University, 3(10): pp. 117-136. (In Persian)
Field, L; Lowry, M; Mkrtchyan, A; )2013(. Are busy boards detrimental? J. Financ.Econ. 109 (1), 63–82.
Hallak, Rob, Assaker, Guy, O’Connor, Peter, Lee, Craig (2018). Firm performance in the upscale restaurant sector: The effects of resilience, creative self-efficacy, innovation and industry experience, Journal of Retailing and Consumer Services 40, 229–240.
Huang, Q; Jiang, F; Lie, E; Yang, K; )2014(. The role of investment banker directors in M & A. J. Financ. Econ. 112 (2), 269–286.
Jafari, F; Hemmati, H. (2014). Studying the effect of industry type on the relationship between corporate governance and company productivity. Productivity Management, 3(34): 26-7. 28(91): 9-30. (In Persian)
Jia, Xin; Mesbahuddin, Chowdhury, Girish, Prayag, Md MarufHossan, Chowdhury, (2020), The role of social capital on proactive and reactive resilience of organizations post-disaster, International Journal of Disaster Risk Reduction, 237-250.
Kamalahmadi, M. Parast, M.M. (2016), “A review of the literature on the
Principles of enterprise and supply chain resilience: major findings and directions for future research”, International Journal of ProductionEconomics, 171: 116-133
Kerr, H. (2016). Organizational Resilience. Quality, 55(7), 40.
Kerr, Howard (2017). Organizational Resilience Index Report. Available from
www.bsigroup.com/organizational-resilience. Accessed may 3, 201
Liyu, H. Rong, H and Elaine, E. (2020). Board influence on a firm’s long-term success: Australian evidence, Journal of Behavioral and Experimental Finance, 27. 100327, ISSN 2214-6350.
Mandojana & Bansal (2015). The long-term benefits of organizational resilience
Through sustainable business practices. Journal of Strategic Management. 37 (8):23-48
McManus, S; Seville, E; Vargo, J; & Brunsdon, D. (2008). Facilitated process for improving organizational resilience. Natural Hazards Review, 9(2), 81-90
Mehrafzoon, A. (2017), Examining the relationship between the characteristics of the board of directors and the tenure of the CEO on the value of companies listed on the Tehran Stock Exchange, Management and Accounting Research Monthly, No. 44, 82-99. (In Persian)
Mokline, Bechir, Ben Abdallah, Mohamed Anis (2021). Individual Resilience in the Organization in the Face of Crisis: Study of the Concept in the Context of COVID-19, Global Journal of Flexible Systems Management, 22(3): 219–231.
Namazi, M; & Moghimi, F. (2019). Investigating the Effect of Innovation Growth Constructs and Mediating Role of Innovation Challenges on Financial and Economic Performance of Tehran Stock Exchange Companies. Financial Accounting Research10(4), 79-104 (In Persian)
Nguyen, C. T; Hai, P. T; & Nguyen, H. K. (2021). Stock market returns and liquidity during the COVID-19 outbreak: evidence from the financial services sector in Vietnam. Asian journal of Economics and Banking. 5(3), 324-342
Okuwa, J. A; Nwuche, C. A; & Anyanwu, S. A. C (2016). Human Capital Development and Organizational Resilience in Selected Manufacturing Firms in Rivers State. International Journal of Novel Research in Humanity and Social Sciences, 3(2), 43–50.
Ostadi Iraj, M; & Soleimon Pouromran, M. (2017). The relationship between the organizational resilience and the competitiveness and sustainable competitive (The case study: Cement Company of Bojnord). Future study Management28(108), 103-125. (In Persian)
Paternoster, R; Brame, R; Mazerolle, P. & Piquero, A. (1998).Using the correct statistical test for the equality of regression coefficients. Criminology, 36(4): 859-866
Pulic, A. (1998). Measuring the performance of intellectual potential in knowledge economy. In 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential (pp. 1-20).
Pulic, A. (2004). Intellectual capital–does it create or destroy value? Measuring business excellence. 8(1):62-68
Samba, C; Vera, D; Kong, D; & Maldonado, T. (2017). Organizational resilience and positive leadership: An integrative framework. Academy of Management Proceedings, 20(1), 11-23
Sashata, Hamid (2021). Firm Characteristics and Firm Performance during the Covid-19 Pandemic: Evidence from an emerging market, Lahore School of Accounting & Finance, The University of Lahore, Pakistan, https://ssrn.com/abstract=3960757.
Sellberg, M. Ryan, P. Borgström, S. Norström, A. Peterson, G. (2018). From Resilience thinking to Resilience Planning: Lessons from practice. Journal of Environmental Management. 217,906-918.
Shams, Z; vahdati, H; zarei matin, H; nazapouri, H; & mousavi, N. (2020). Identify The Factors Affecting Organizational Resilience With The Use Of Meta-Synthesis Approach. Public Administration Perspaective11(3), 39-65. (In Persian)
Shen, Huayu, Fu, Mengyao, Pan, Hongyu, Yu, Zhongfu, Chen, Yongquan (2020). The Impact of the COVID-19 Pandemic on Firm Performance, emerging markets finance and 56(10):2213–2230.
Shen, J; Liu, C; Lv, Q; Gu, J; Su, M; Wang, S; ... & Wu, J. (2021). Novel insights into impacts of the COVID-19 pandemic on aquatic environment of Beijing-Hangzhou GrandCanal in southern Jiangsu region. Water research, 193(1), 116873.
Stone, J. and Rahimifard, S. (2018). Resilience in agri-food supply chains: a critical analysis of the literature and synthesis of a novel framework. Supply Chain Management, 23 (3): 207-23
Suryaningtyas, D; Sudiro, A; Troena, E. A; & Irawanto, D. (2019). Organizational resilience and organizational performance: Examining the mediating roles of resilient leadership and organizational culture. Academy of Strategic Management Journal, 18(2), 1-7.
Taherinia, M; & FazloAllahi Dehkordi, Z. (2017). The Effect of Intellectual Capital on Product Market Competition. Journal of Accounting and Social Interests7(2), 1-18. (In Persian)
Tam, L. T; Ho, H. X; Nguyen, D. P; Elias, A; & Le, A. N. H. (2021). Receptivity of governmental communication and its effectiveness during COVID-19 pandemic emergency in Vietnam: A qualitative study. Global Journal of Flexible Systems Management, 22(Suppl 1), S45–S64.
Tengblad, S. and Oudhuis, M. (2017). The Resilience Framework: Organizing for Sustained Viability. Singapore. Springer. p.285.
Zheng, C; & Zhang, J. (2021). The impact of COVID-19 on the efficiency of microfinance institutions. International Review of Economics & Finance, 71, 407-423.