Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/327082 
Year of Publication: 
2025
Citation: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9444 [Volume:] 28 [Issue:] 2 [Year:] 2025 [Pages:] 514-529
Publisher: 
Sage Publishing, London
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.
Subjects: 
Organizational resilience
relapse prevention
investors
resource-dependence theory
organizational crisis
JEL: 
D74
D81
G01
G32
P45
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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