STRATEGIES FOR SUPERIOR PERFORMANCE IN RECESSIONS: PRO OR COUNTER-CYCLICAL?
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Fundação Getulio Vargas
2015
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| _version_ | 1876423859765248000 |
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| author | CLAUDIO RAMOS CONTI |
| author_facet | CLAUDIO RAMOS CONTI |
| contents | STRATEGIES FOR SUPERIOR PERFORMANCE IN RECESSIONS: PRO OR COUNTER-CYCLICAL? CLAUDIO RAMOS CONTI RAFAEL GOLDSZMIDT FLÁVIO CARVALHO DE VASCONCELOS Administración y Contabilidad cycle Recession opportunity flexibility entrepreneurship Recessions are recurring events in which most firms suffer severe impacts while others are less affected or may even prosper. Strategic management has made little progress in understanding such performan-ce differences. In a scenario of decreased demand, intensified competition, and higher uncertainty, most firms try to survive by pro-cyclically cutting costs and investments. But firms could take advantage of undervalued resources in the market to counter-cyclically invest in new business opportunities to overtake competitors. We survey Brazilian firms in various industries about the 2008-2009 recession and analyze data using PLS-SEM. We find that while most firms pro-cyclically reduce costs and invest-ments in recessions, a counter-cyclical strategy of investing in opportunities created by changes in the market enables superior performance. Most successful are firms with a propensity to recognize opportu-nities, an entrepreneurial orientation to invest, and the flexibility to efficiently implement investments. 2015 artículo científico 0034-7590 https://www.redalyc.org/articulo.oa?id=155138402003 https://www.redalyc.org/journal/1551/155138402003/ https://www.redalyc.org/journal/1551/155138402003/html/ https://www.redalyc.org/journal/1551/155138402003/155138402003.epub https://www.redalyc.org/journal/1551/155138402003/movil en http://www.redalyc.org/revista.oa?id=1551 RAE - Revista de Administração de Empresas application/pdf Fundação Getulio Vargas RAE - Revista de Administração de Empresas (Brasil) Num.3 Vol.55 |
| format | Artículo científico |
| id | redalyc_155138402003 |
| institution | Redalyc |
| language | en |
| publishDate | 2015 |
| publisher | Fundação Getulio Vargas |
| spellingShingle | STRATEGIES FOR SUPERIOR PERFORMANCE IN RECESSIONS: PRO OR COUNTER-CYCLICAL? CLAUDIO RAMOS CONTI Administración y Contabilidad cycle Recession opportunity flexibility entrepreneurship STRATEGIES FOR SUPERIOR PERFORMANCE IN RECESSIONS: PRO OR COUNTER-CYCLICAL? CLAUDIO RAMOS CONTI RAFAEL GOLDSZMIDT FLÁVIO CARVALHO DE VASCONCELOS Administración y Contabilidad cycle Recession opportunity flexibility entrepreneurship Recessions are recurring events in which most firms suffer severe impacts while others are less affected or may even prosper. Strategic management has made little progress in understanding such performan-ce differences. In a scenario of decreased demand, intensified competition, and higher uncertainty, most firms try to survive by pro-cyclically cutting costs and investments. But firms could take advantage of undervalued resources in the market to counter-cyclically invest in new business opportunities to overtake competitors. We survey Brazilian firms in various industries about the 2008-2009 recession and analyze data using PLS-SEM. We find that while most firms pro-cyclically reduce costs and invest-ments in recessions, a counter-cyclical strategy of investing in opportunities created by changes in the market enables superior performance. Most successful are firms with a propensity to recognize opportu-nities, an entrepreneurial orientation to invest, and the flexibility to efficiently implement investments. 2015 artículo científico 0034-7590 https://www.redalyc.org/articulo.oa?id=155138402003 https://www.redalyc.org/journal/1551/155138402003/ https://www.redalyc.org/journal/1551/155138402003/html/ https://www.redalyc.org/journal/1551/155138402003/155138402003.epub https://www.redalyc.org/journal/1551/155138402003/movil en http://www.redalyc.org/revista.oa?id=1551 RAE - Revista de Administração de Empresas application/pdf Fundação Getulio Vargas RAE - Revista de Administração de Empresas (Brasil) Num.3 Vol.55 |
| title | STRATEGIES FOR SUPERIOR PERFORMANCE IN RECESSIONS: PRO OR COUNTER-CYCLICAL? |
| topic | Administración y Contabilidad cycle Recession opportunity flexibility entrepreneurship |
| url | https://www.redalyc.org/articulo.oa?id=155138402003 https://www.redalyc.org/journal/1551/155138402003/ https://www.redalyc.org/journal/1551/155138402003/html/ https://www.redalyc.org/journal/1551/155138402003/155138402003.epub https://www.redalyc.org/journal/1551/155138402003/movil |