@misc{10481/91853,
year = {2024},
month = {4},
url = {https://hdl.handle.net/10481/91853},
abstract = {Many firms may successfully navigate an organizational crisis, but may find themselves entangled in another soon
after. Building on a resource-dependence perspective, this study evaluates how certain investor characteristics foster
organizational resilience during a crisis by preventing a relapse following recovery. Drawing on data from 2014 to
2019, we analyzed 359 firms that faced a crisis in 2015, as indicated by their Altman Z-score values. Our findings reveal
that diversity and patience of investors prevent firms from relapsing into upcoming crises; however, the probability
of relapse increases when concentrated investors boost the firm’s capital during the in-crisis period. We bridge the
gap between the resource-dependence theory and literature on organizational resilience and contribute by extending
previous analyses on the relevance of investors to recover from a crisis to identify how in-crisis investors’ features also
state the foundations to avoid future relapses.},
organization = {Grant PID2019-
107767GA-I00 and Grant PID2022-138331NB-I00 funded by
MICIU/AEI /10.13039/501100011033},
organization = {ERDF/UE},
organization = {Grant
TED2021-129829B-I00 funded by MICIU/AEI/10.13039/5011
00011033},
organization = {European Union NextGenerationEU/PRTR},
organization = {Grant C-SEJ-069-UGR23 funded by Consejería de Universidad,
Investigación e Innovación},
organization = {ERDF Andalusia Program},
publisher = {SAGE},
keywords = {Organizational resilience},
keywords = {Relapse prevention},
keywords = {Investors},
title = {Avoiding relapses after crises: Exploring the influence of firm investors’ characteristics on organizational resilience},
doi = {10.1177/23409444241243377},
author = {Mellado-Garcia, Elena and Ortiz Martínez de Mandojana, Natalia and Aragón Correa, Juan Alberto},
}