This paper empirically studies the role of fiscal constraints for disaster vulnerability and investment decisions in a global sample of firms. We build novel firm-level measures of exposure to fiscal constraints based on the sales distributions of firms across countries. This approach allows us...

The year 2023 marks the 12th anniversary of the Great East Japan Earthquake (GEJE). Immediately after the disaster, the number of evacuees reached approximately 470,000, but by November 2022, the number had decreased to approximately 31,000. The reconstruction of housing, disposal of debris,...

Purpose – Recent trends of outsourcing in global competition make the firms vulnerable to operational risks. The purpose of this paper is to illustrate how firms implement supply chain strategies to reduce operational risks, especially risk exposure involving catastrophic events....

Purpose – This paper aims to analyse as to how the benefits to Tsunami affected small industry were misplaced and carried wrong priorities. Besides the support provided was insufficient for an effective recovery. There existed many governance‐related problems. Overall recovery was at a low...