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Autor
Brzozowski Jan (Università Politecnica delle Marche, Ancona, Italy; Cracow University of Economics, Poland / Wydział Ekonomii i Stosunków Międzynarodowych), Cucculelli Marco (Università Politecnica delle Marche, Ancona, Italy)
Tytuł
Proactive and Reactive Attitude to Crisis : Evidence from European Firms
Źródło
Entrepreneurial Business and Economics Review, 2016, vol. 4, nr 1, s. 181-191, tab., bibliogr. 21 poz.
Tytuł własny numeru
Economics of Higher Education
Słowa kluczowe
Sytuacje kryzysowe, Inwestycje, Produkt
Crisis situations, Investment, Product
Uwagi
summ., The article came into being within the project Research project: Apprendimento organizzativo, competitività e finanza d'impresa. (2015-2016, Università Politecnica delle Marche)
Abstrakt
Objective: The aim of this study is to investigate the behaviour of European firms in the time of the economic crisis in 2008-2009. We analyse the determinants of proactive strategies in the context of innovation and the range of products offered by every firm on the market.

Research Design & Methods: Based on a large and representative sample of 14 750 (EFIGE dataset) firms from Austria, Germany, France, Hungary, Italy, Spain and the UK, we estimate the logit model for two measures of proactive strategy: the investment behaviour and the introduction of new products on the market.

Findings: We find evidence that the experience of the former crisis by the company is associated with the adoption of proactive behaviour in the case of investments in innovation, and reactive behaviour in the case of the product offer range.

Implications & Recommendations: As the public support for innovative investments proved to be rather ineffective, the most promising direction for public policies in the times of crisis are those that facilitate the access to external financing.

Contribution & Value Added: Our paper contributes to the development of knowledge on the dynamics of company behaviour in the wake of the economic crisis in 2008, and to the better understanding of the determinants of proactive behaviour of enterprises within the context of rising uncertainty. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
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Bibliografia
Pokaż
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  2. Antonioli, D., Bianchi, A., Mazzanti, M., Montresor, S., & Pini, P. (2011, January). Economic crisis, innovation strategies and firm performance. Evidence from Italian firm-level data. In SIE annual meeting.
  3. Archibugi, D., Filippetti, A., & Frenz, M. (2013). Economic crisis and innovation: Is destruction prevailing over accumulation?. Research Policy, 42(2), 303-314.
  4. Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory of entrepreneurial opportunity identification and development. Journal of Business Venturing, 18(1), 105-123.
  5. Carbonara, G., & Caiazza, R. (2010). How to turn crisis into opportunity: perception and reaction to high level of uncertainty in banking industry. Foresight, 12(4), 37-46.
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  7. Cucculelli, M., & Bettinelli, C. (2015). Corporate governance in family firms, learning and reaction to recession. Evidence from Italy. Futures, http://dx.doi.org/10.1016/j.futures.2015.10.011
  8. Filippetti, A., & Archibugi, D. (2010). Innovation in times of crisis: the uneven effects of the economic downturn across Europe. MPRA Paper No. 22084.
  9. Freeman, C., Clark, J., & Soete, L., (1982). Unemployment and Technical Innovation. Frances Pinter, London.
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  11. Latham, S. (2009). Contrasting Strategic Response to Economic Recession in Start-Up versus Established Software Firms. Journal of Small Business Management, 47(2), 180-201.
  12. Leung, S., & Horwitz, B. (2010). Corporate governance and firm value during a financial crisis. Review of Quantitative Finance and Accounting, 34(4), 459-481.
  13. Li, Y., Chen, H., Liu, Y., & Peng, M. W. (2014). Managerial ties, organizational learning, and opportunity capture: A social capital perspective. Asia Pacific Journal of Management, 31(1), 271-291.
  14. Liu, C., Uchida, K., & Yang, Y. (2012). Corporate governance and firm value during the global financial crisis: Evidence from China. International Review of Financial Analysis, 21, 70-80.
  15. Mainela, T., Puhakka, V., & Servais, P. (2014). The concept of international opportunity in international entrepreneurship: a review and a research agenda. International Journal of Manage-ment Reviews, 16(1), 105-129.
  16. Marsen, S. (2014). "Lock the Doors": Toward a Narrative-Semiotic Approach to Organizational Crisis. Journal of Business and Technical Communication, July 2014 vol. 28 no. 3 301-326.
  17. Mensch, G. O. (1979). Stalemate in Technology: Innovations Overcome the Depression. Cambridge, MA: Ballinger Publishing Company.
  18. Pavitt, K., Robson, M., & Townsend, J. (1989). Technological accumulation, diversification and organisation in UK companies, 1945-1983. Management Science, 35(1), 81-99.
  19. Schumpeter, J. A. (1939). Business Cycle: A Theoretical, Historical and Statistical Analysis of the Capitalist Process. New York: McGraw-Hill.
  20. Smith, D., & Elliott, D. (2007). Exploring the barriers to learning from crisis organizational learning and crisis. Management Learning, 38(5), 519-538.
  21. Wach, K. (2015). Entrepreneurial Orientation and Business Internationalisation Process: The Theoretical Foundations of International Entrepreneurship. Entrepreneurial Business and Econom-ics Review, 3(2), 9-24.
Cytowane przez
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ISSN
2353-883X
Język
eng
URI / DOI
http://dx.doi.org/10.15678/EBER.2016.040111
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