NAVIGATING CRISES: SOCIOEMOTIONAL WEALTH AND SLACK RESOURCES IN BUILDING RESILIENCE
Meryaam El Kaddouri1,4, Carmen González-Zapatero Redondo2, Isabel Suárez-González3
1University of Salamanca, España; 2University of Salamanca, España; 3University of Salamanca, España; 4University of Antwerp, Bélgica
Relator: Francisco Puig Blanco (Universitat de Valencia)
OOur work examines whether family-owned small- and medium-sized enterprises (SMEs) are more proactive in cultivating resilience capabilities than non-family SMEs, especially the greater importance these family firms place on preserving their socioemotional wealth. These capabilities include absorbing shocks, renewing in response to changing conditions, and learning from crises. Additionally, the research investigates the mediating role of slack resources in fostering resilience capabilities. The study analyses 175 family and non-family SMEs based in Spain, and Structural Equation Modeling is used for hypothesis testing. The results show that SMEs where SEW concerns are more relevant exhibit superior absorptive, renewal, and learning capabilities. Moreover, slack resources turn out to be a necessary condition for absorbing shocks in the early stages of a crisis, while helping to improve renewal and learning capabilities during the crisis". This study contributes to the family SME resilience literature by highlighting the contribution of socioemotional concerns and slack resources in enhancing organizational resilience during disruptions.
NAVIGATING TURNAROUND STRATEGY AND HUMAN RESOURCE MANAGEMENT: A BIBLIOMETRIC APPROACH
Monica Santana
Universidad Pablo de Olavide, España
Relator: Manuel González-Díaz (Universidad de Oviedo)
Purpose: This research paper aims to analyze turnaround and human resource management (HRM) strategies in public institutions facing crises, particularly in light of recent political changes and budget constraints. The study addresses the gap in literature connecting turnaround strategies with HR strategies in the public sector.
Theoretical Framework: The theoretical framework combines insights from turnaround strategy, HRM, and public management literature. It explores how public organizations can effectively integrate HR practices with broader organizational strategies to navigate crises while maintaining service delivery, despite the challenges of aligning traditional HRM approaches with the public sector's mission-driven nature.
Method: The study employs a bibliometric analysis using SciMAT to conduct science mapping based on co-word bibliographic networks. The analysis covers 295 documents from the Web of Science, spanning 1982-2024, divided into four periods.
Findings: Main findings reveal that New Public Management, decline, and trust emerged as motor themes in the 2017-2024 period. The study contributes to the field by offering a critical evaluation of high-impact research strands and identifying key themes in turnaround strategy and HRM in the public sector, providing valuable insights for public administrators developing robust approaches to address financial challenges and maintain service delivery during turbulent times.
La crisis de la prensa
José Luis Rodríguez Artime, Manuel González Díaz
Universidad de Oviedo, España
Relator: Monica Santana (Universidad Pablo de Olavide)
Que la prensa esté en crisis es especialmente grave porque afecta a los derechos fundamentales de los ciudadanos (Habermas, 2023). Los editores se vienen escudando en las consecuencias de la crisis de 2008 y en la irrupción digital para justificar tan malos resultados. El Objetivo de este trabajo es profundizar en una explicación alternativa basada en los valores fundamentales del negocio de la prensa. Marco Teórico: Asumir la crisis como la fase de declive del producto Pla et al. (2007), sin exigir cambios, es contradictorio, puesto que según algunos atores como Solá-Segalés (2007) o (Ayala, 2014), estamos metidos de lleno en la era de la comunicación. Empleamos Metodologías cuantitativa, mediante la cual, con la obtención de datos de fuentes secundarias, formulamos funciones de ventas en las que se establecen relaciones de dependencia entre las ventas de periódicos y una serie de variables de la cadena de valor, y cualitativa, a través de factores o pautas de comportamiento de los editores que determinen la caída de las ventas, Los Resultados evidencian la desacertada actuación sobre las variables independientes. El escenario actual, con muchos menos lectores y anunciantes, ha sumido a los periódicos españoles en una crisis más grave que la de otros países.
Cut Costs or Invest? Rethinking Survival Strategies in Bankruptcy
Manuel Rico1, Francisco Puig2, Ana Debón3
1Grupo Leopoldo Pons, Valencia, España; 2Universitat de València, España; 3Universitat Politècnica de València, España
Relator: Isabel Suárez González (Universidad de Salamanca)
Firms often file for bankruptcy during economic crises as a last resort to recover from financial distress. However, the effectiveness of strategic recovery actions in bankruptcy remains debated. While retrenchment strategies help stabilize firms, some cost reductions may be counterproductive, such as cutting marketing and sales investments. Additionally, the role of asset investments in insolvency proceedings remains unclear.
This study analyzes 868 Spanish firms in bankruptcy (2004–2017, SABI database) to assess the impact of sales growth and asset investment on survival and recovery. Findings reveal that sales growth significantly improves survival odds and financial performance, whereas asset investments show no significant benefits. Successful firms balance sales-driven strategies with selective retrenchment, reducing costs without jeopardizing revenue-generating activities.
Beyond the traditional success-failure dichotomy, this study introduces a three-outcome model: liquidation, marginal survival, and success. These findings challenge the assumption that cost-cutting fosters recovery and suggest that bankrupt firms should prioritize revenue-focused strategies, supported by structured retrenchment, to build a solid foundation for long-term viability.
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