Critical Factors Affecting the Enterprise Resilience in COVID-19 Crises: An Empirical Study of Manufacturing Enterprises in Sichuan, China

Abstract

The purpose of this paper is to empirically examine the key factors that significantly affect the resilience of manufacturing enterprises in the COVID-19 crisis, and determine how to improve the resilience of manufacturing enterprises. The data were collected from Sichuan Province through the Sichuan Federation of Commerce in China, and a sample of 523 enterprises’ data was collected from the Chinese manufacturing industry. The enterprise resilience was measured by five predictors, including leadership, adaption, networking, finance, and resources. By using exploratory analysis and linear multiple regression analysis, the findings show that except for resources, rest of the independent variables have been found to have positively significant effect on enterprise resilience in the COVID-19 crisis. Moreover, the leadership has revealed the greatest impact on enterprise resilience. Therefore, the senior management team/level or senior management teams. For further study, we consider to test our model by conducting comparative studies between manufacturing industry and other industries, and check whether the findings are the consistent or not. Further research might explore more across-country or across-distinct by controlling variables including economic, cultural, political factors, etc.