This study analyzes which types of firm-level shocks were associated with the centralization of strategic decision-making during the recession of 2008-09. We use a unique survey dataset of more than 14000 manufacturing firms from seven European countries which includes direct information on...

The ongoing crisis caused by the COVID-19 global pandemics has serious economic repercussions for the Republic of Croatia. Economic consequences of the current crisis are indicating the need for developing a strategic approach to emergency financial management. The response of Croatian...

Following the massive impact of the Covid-19 pandemic on the global economy and on small and medium-sized enterprises (SMEs) in particular, the concept of resilience has experienced a renaissance. As an organizational concept, business model resilience describes the extent to which an...

Boom and bust or overshoot and collapse dynamics are common among firms in a large range of different industries. The underlying cognitive and behavioral factors responsible for strategic decisions driving boom and bust dynamics include misperceptions of feedback, attribution errors, and the...

Macroeconomic theory assumes that factors of production in the economy are homogeneous and fungible. As a result, it is poorly suited for analyzing and developing policy responses to the recent financial crisis. Theories of strategic management and organization, with their emphasis on...

This study investigates how companies adjusted their investments in key strategic resources -- i.e., their workforce, capital expenditures, R&D, and CSR -- in response to the sharp increase in the cost of credit (the "credit crunch") during the financial crisis of 2007-2009. We compare companies...