Antecedents of organizational resilience in economic crises—an empirical study of Swedish textile and clothing SMEs

Rudrajeet Pal, Håkan Torstensson and Heikki Mattila

International Journal of Production Economics, 2014, vol. 147, issue PB, 410-428

Abstract: Economic recessions have created challenges for small and medium-sized enterprises (SMEs) and contributed to disruptions requiring them to be resilient. At times of economic crises, SMEs face major threats to their financial performance and ultimately to their survival. The average number of Swedish textile and clothing (T&C) firms that went bankrupt during the recent crisis (2007–09) escalated twofold compared to the average over 2000–10. Following the 1990s economic crisis nearly 12 per cent of the T&C companies went bankrupt in 1994–95. The structural industrial statistics also plummeted in these crisis years, aggravating many internal problems in SMEs as a ripple effect.

Keywords: Resilience; Crisis; Small and medium-sized enterprise; SME; Textile and clothing; Sweden (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (60)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:147:y:2014:i:pb:p:410-428

DOI: 10.1016/j.ijpe.2013.02.031

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