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Enterprise resilience to the COVID-19 pandemic: The role of business environment
Enterprise resilience captures enterprises’ ability to survive and develop under uncertainties and shocks. Taking the shock of COVID-19 as an example, this paper employs a unique firm-level national survey dataset collected from a sample of nearly 40,000 Chinese private enterprises in 2020 to system...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Public Library of Science
2023
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10403089/ https://www.ncbi.nlm.nih.gov/pubmed/37540704 http://dx.doi.org/10.1371/journal.pone.0288722 |
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author | Fu, Lin Shi, Yupeng Yang, Xuze Zhang, Wentao |
author_facet | Fu, Lin Shi, Yupeng Yang, Xuze Zhang, Wentao |
author_sort | Fu, Lin |
collection | PubMed |
description | Enterprise resilience captures enterprises’ ability to survive and develop under uncertainties and shocks. Taking the shock of COVID-19 as an example, this paper employs a unique firm-level national survey dataset collected from a sample of nearly 40,000 Chinese private enterprises in 2020 to systematically explore the relation between local business environment and enterprise resilience. Our estimation results using ordered probit model indicate that favorable business environment can significantly enhance enterprise resilience and mitigate the shock of COVID-19 on firm performance. Mechanism analysis further shows that enterprises under better business environment generally have greater resilience as the result of timely and effective government support, reliable supply of production factors and logistics service, and lower levels of financial constraints. Our study deepens the understanding of the economic consequences of business environment and also sheds a new light on enterprise resilience enhancement. |
format | Online Article Text |
id | pubmed-10403089 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Public Library of Science |
record_format | MEDLINE/PubMed |
spelling | pubmed-104030892023-08-05 Enterprise resilience to the COVID-19 pandemic: The role of business environment Fu, Lin Shi, Yupeng Yang, Xuze Zhang, Wentao PLoS One Research Article Enterprise resilience captures enterprises’ ability to survive and develop under uncertainties and shocks. Taking the shock of COVID-19 as an example, this paper employs a unique firm-level national survey dataset collected from a sample of nearly 40,000 Chinese private enterprises in 2020 to systematically explore the relation between local business environment and enterprise resilience. Our estimation results using ordered probit model indicate that favorable business environment can significantly enhance enterprise resilience and mitigate the shock of COVID-19 on firm performance. Mechanism analysis further shows that enterprises under better business environment generally have greater resilience as the result of timely and effective government support, reliable supply of production factors and logistics service, and lower levels of financial constraints. Our study deepens the understanding of the economic consequences of business environment and also sheds a new light on enterprise resilience enhancement. Public Library of Science 2023-08-04 /pmc/articles/PMC10403089/ /pubmed/37540704 http://dx.doi.org/10.1371/journal.pone.0288722 Text en © 2023 Fu et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. |
spellingShingle | Research Article Fu, Lin Shi, Yupeng Yang, Xuze Zhang, Wentao Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title | Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title_full | Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title_fullStr | Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title_full_unstemmed | Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title_short | Enterprise resilience to the COVID-19 pandemic: The role of business environment |
title_sort | enterprise resilience to the covid-19 pandemic: the role of business environment |
topic | Research Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10403089/ https://www.ncbi.nlm.nih.gov/pubmed/37540704 http://dx.doi.org/10.1371/journal.pone.0288722 |
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