 Surviving and recovering in times of crisis: A resource dependence view of firm ownershipYu Liu, Mike W. Peng, Zuobao Wei, Jian Xu and Lixin Colin Xu Journal of Business Research, 2025, vol. 199, issue C Abstract: Leveraging resource dependence theory, we examine the effects of state, foreign, and parental ownership on firm survival and recovery in the context of the COVID-19 pandemic. Utilizing data from World Bank surveys, conducted between May 2020 and August 2022, across 44 countries and focusing on small-and medium-sized enterprises (SMEs), we find that firms with state and parental ownership have a higher likelihood of surviving and growing during the pandemic, whereas foreign ownership exhibits a minimal impact. Furthermore, both state and parental ownership have a positive effect on firm growth during the pandemic but no significant effect in normal times. The nature of the ownership-performance relation changes as firms pass through the initial pandemic shocks and move onto the recovery stage. Overall, from a resource dependence perspective, our study highlights the effects of different ownership types on firm performance in the context of crisis. Keywords: Context; COVID-19; Firm survival and growth; Ownership; Resource dependence theory; SMEs (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:199:y:2025:i:c:s0148296325003388 DOI: 10.1016/j.jbusres.2025.115515 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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