State intervention and tourism business resilience: Exploring firm-level crisis responses

IF 4 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM

Annals of Tourism Research Empirical Insights Pub Date : 2024-05-20 DOI:10.1016/j.annale.2024.100142

Joo-Ee Gan , Joann P.S. Lim , Alexander Trupp , Wai Ching Poon

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Abstract

Business resilience and government intervention are critical in navigating crises. Guided by resilience theory and concepts of state intervention in global crises, this article examines firm-level strategies to the Covid-19 pandemic. The qualitative findings decipher adaptive resilience and business survival strategies concerning cashflow management, human resource management, management of current liabilities, asset management, and alternative business avenues. Government intervention included financial assistance, wage subsidy, loan moratorium, and other stimulus measures. Findings reveal mixed responses, highlighting the need for tailored and effective government intervention. The study extends resilience theory by integrating state intervention as an external driver of adaptive resilience, thereby providing a holistic understanding of resilience in crises. Practical implications provide policy-makers with insights on more effective crisis response strategies.

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国家干预与旅游企业复原力：探索企业层面的危机应对措施

企业应变能力和政府干预在应对危机中至关重要。本文以全球危机中的复原力理论和国家干预概念为指导，研究了企业应对 Covid-19 大流行病的策略。定性研究结果解读了有关现金流管理、人力资源管理、流动负债管理、资产管理和替代业务途径的适应性复原力和企业生存战略。政府干预措施包括财政援助、工资补贴、暂停贷款和其他刺激措施。研究结果显示，各方反应不一，突出表明政府需要采取有针对性的有效干预措施。本研究将国家干预作为适应性复原力的外部驱动力，从而对危机中的复原力有了全面的了解，从而扩展了复原力理论。研究的实际意义为政策制定者提供了更有效的危机应对策略。

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