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PurposeThis paper documents and links firm- and country-level outcomes to the United Nations Sustainable Development Goals (UNSDGs) by portraying how the Chinese economy has fared during the COVID-19 crisis. It does so by shedding light on the factors that determine the effectiveness of health policies implemented in China.Design/methodology/approachUnlike the prior literature, in which lagging performance measures are used, the authors use leading indicators with event study methodology to develop effectiveness scores and identify the determinants of effectiveness, including financial variables, firm infection, geographical location of the spread, travel bans, lockdown periods, policies of home quarantine, health innovations and other innovative measures undertaken by the Chinese authorities.FindingsThe detailed disaggregated results show many dimensions where abnormal returns are indeed associated with various health policies and that the effectiveness, influenced by firm size, profitability, firm infection and location. The results remain robust when the authors control for various event windows and models and provide evidence of a strong UNSDG link, which the authors draw up a list.Research limitations/implicationsApart from the quantitative analysis approach, future studies can complement and add further insights by utilizing qualitative research approaches.Practical implicationsThe results offers robust evidence for policy-makers and firm managers on how a crisis of such proportions and subsequent health policies is affecting different firms and why.Social implicationsThe study shows how COVID-19 health policies open a new dimension in terms of energy demand reduction and lower emissions, factors linking to the UNSDGs.Originality/valueThe study is the first to show detailed disaggregated results across many dimensions where abnormal returns are indeed associated with various health policies and that the effectiveness, influenced by firm size, profitability, firm infection and location.

PurposeThe purpose of this study is twofold. Firstly, the authors have conducted a systematic investigation considering the historical pandemic periods (1991–2021) over 30 years to identify critical factors and business failure phenomenon during pandemics to explore "what", "why" and "how" factors contributing to business failure during the COVID-19 pandemic and secondly identified interlinks of these factors to explain the phenomenon of business failure strategically through various quantitative models.Design/methodology/approachFirstly, the critical factors were identified through previous literature and systematically reported in accordance with the PRISMA guidelines. To remove any bias in critical factor selection, Delphi method was employed. In the second phase, m-TISM approach was adopted to understand the interrelationships of the factors to develop the hierarchy levels. Lastly, MICMAC analysis was also done to evaluate the driving and dependence powers of the critical factors. For implementation of the stated methodology, expert opinion was collected to assess the critical factors based on their knowledge and experience. A total of seven experts were involved in this study.FindingsTwo major takeaways from the results of phase one were that "external environmental changes" was at the highest level and had the highest driving power as well as the lowest dependence power, while "inappropriate marketing techniques" was at the lowest level and had the highest dependence and lowest driving powers.Practical implicationsThe ever-developing digital technologies act as a synonym to innovation and are shaping up to be the key to future-proofing any industry. However, before one can move towards developing effective strategies to mitigate any business disruptions, there is a need to assess the causes of business failures in the first place which is a major managerial implication identified through this study.Originality/valueThis paper can be considered as the first few studies to conduct a systematic investigation considering the historical pandemic periods (1991–2021) over 30 years to identify critical factors and business failure phenomenon during pandemics to explore "what", "why" and "how" factors contributing to business failure during the COVID-19 pandemic and secondly identified interlinks of these factors to explain the phenomenon of business failure strategically through various quantitative models.

PurposeThe purpose of this paper is to examine the role of intellectual capital and knowledge management in the entrepreneurial success of firms through a research model which is subsequently tested empirically.Design/methodology/approachThe paper utilises the knowledge-based perspective to formulate three sets of hypotheses which the authors subsequently test in the empirical analysis on data derived from the Orbis database, which includes over 1-million data points from approximately 240,000 firms across 174 geographic subdivisions of economic regions in 14 European countries, from 2010 to 2013. The analysis utilises probit model regressions on the likelihood of becoming a high-growth firms (HGF), in the presence of a number of control factors including firm age, firm size, tangible assets, foreign ownership, competitiveness (via Herfindahl index), return on assets, industry sector and country location.FindingsFindings from our analysis suggest that investments in intangible assets and generating patents from research and development (R&D) efforts is positively related to the likelihood of becoming a HGF. In addition, cluster membership seems to be a positive influence on becoming a HGF, however the moderating impact of intangible investments and patents is less clear in clusters.Research limitations/implicationsThe authors highlight the mixed effects from cluster membership and the beneficial impact from intellectual capital and knowledge management in achieving high growth firm status.Originality/valueThe authors derive and test our research model, which outlines the interrelationship of the various factors leading to firms becoming high-growth firms. The results suggest that there may be further fruitful ground for future investigation in the intersections of knowledge management and intellectual capital concepts within entrepreneurial contexts.