Is this Time Different? Corporate Resilience in the Age of Covid-19

Jacques Bughin, Sybille Berjoan, Francis Hinterman and Yuhui Xiong

No 2021-046, Working Papers TIMES² from ULB -- Universite Libre de Bruxelles

Abstract: We study corporate resilience during the Covid-19 pandemic for a sample of 4100 large global firms (mode: 1-10 billion USD revenue) using a large set of machine learning techniques. As per Hamel and Valikangas (2003), we find that both traits of innovations, as well as of organizational agility (Teece et al. 2016), drive the firm's post-Covid rebound. Remarkably, the Covid-19 pandemic is also exhibiting two extra traits among covid-19 resilient firms: they are consolidating their play in business ecosystems, while they are engaged in a “twin transformation” of digitization and sustainability. In general, also the way corporations play those traits matters, i.e. orchestrating the business ecosystems, engaging in disruptive (as opposed to incremental) innovation, and transforming at scale to boost resilience. Finally, there is a large complementarity among “resilience” traits, boosting the probability of resilience by close to 40% versus the sum of only the direct effects.JEL-codes: L25, M15, M21, 033, I101. Introduction

Keywords: corporate; resilience; covid-19 (search for similar items in EconPapers)
Pages: 35 p.
Date: 2021-06
New Economics Papers: this item is included in nep-ore and nep-sbm
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