Forthcoming and Online First Articles

International Journal of Business Continuity and Risk Management

International Journal of Business Continuity and Risk Management (IJBCRM)

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International Journal of Business Continuity and Risk Management (22 papers in press)

Regular Issues

  • Adoption of Cloud Computing in Business Continuity Management for Container Terminal Operations in South Africa   Order a copy of this article
    by Nixon Muganda Ochara, Felix Kutame, Armstrong Kadyamatimba 
    Abstract: This study responds to recent calls for improving pre- and post-disaster business continuity by investigating cloud computing adoption factors relevant to the modernization of port operations. A Fit-Viability Model (FVM) is used as the analytical framework for the study. An interpretive, qualitative methodology, employing the use of a case study of the ports in South Africa was adopted. The interview data collected was analyzed thematically and the findings revealed several insights: the first is that a digitalized BCM architecture fits the cloud computing model. Secondly, the cloud computing model is a viable model that can contribute to managing complex and differentiated organizations. For such complex organizations, viability can be realized by harnessing collective intelligence (CI) for more effective BCM. Lastly, to realize digitally-enabled BCM and harness the power of CI, there is a need for a rethinking of strategy towards the adoption of an Intelliport strategy or smart BCM for ports.
    Keywords: Business Continuity; Disaster Recovery; Cloud Computing; Fourth Industrial Revolution; Business Continuity Management; Digital Transformation.

  • Examining the transition of natural disaster management for climate change   Order a copy of this article
    by Kyong-Jin Park, Bong-Woo Lee, Kyoo-Man Ha 
    Abstract: Climate change has started to fearfully impact the living organisms on the planet, whether or not it sounds believable. This article aims to study the transitions in climate-related disasters to mitigate the related risks. To this end, qualitative content analysis has been used as the key methodology. The paper cross-examines three periods of climate change (before climate change, the 1st half of climate change, and the 2nd half of climate change) in conjunction with three levels of natural disaster management (international level, national level, and local level). Following this elaboration, the paper suggests three theoretical phases along which disaster management is structured: provincialism-oriented management (19511990), patriotism-oriented management (19912040), and survivalism-oriented management (20412100). While the ignorance of negative climate change is culpable, all stakeholders in the field need to address international cooperation, sustainability, education, and training for survival of the fittest.
    Keywords: climate-related disasters; provincialism; patriotism; survivalism; ignorance.
    DOI: 10.1504/IJBCRM.2022.10041096
    by Oluwatoyin Esther Akinbowale, Heinz Eckart Klingelhöfer, Mulatu Fekadu Zerihun 
    Abstract: Corporate Social Responsibility (CSR) and Human Resource Accounting (HRA) are concepts that facilitate an improved socio-economic environment. An active corporate social responsibility can promote the reputation of an organisation alongside with other significant benefits such as improvement in the management of human resources, effective risk mitigation and management measures, robust customer relationship with sound innovations. In respect of the aforementioned, this study seeks to explore some significant impact of corporate social responsibility and human resource accounting on the socio-economic environment. It uses a linear programming approach to expound the relationship that exist between the variables under consideration and to explain the possible outcome of the integration of CSR and HRA in relation to their impact on the socio-economic environment. The study finds that CSR and HRA have common features: cost and assets. HRA strictly recognises the cost of human assets like employee training to meet environmental, technological, and socio-economic current demands. Based on the findings of this study, the integrated view of HRA and CSR is recommended. Depending on the organisation
    Keywords: Corporate Social Responsibility (CSR); Human Resource Accounting (HRA); Linear Programming; Socio-economic Environment; Social Cost.

    by Rusmawati Ismail, Rohani Md-Rus, Kamarun Nisham Taufil Mohd. 
    Abstract: This study investigates if semi-variance could be used to predict financial distress experienced by companies on Bursa Malaysia. A panel data set of 12,906 firm-year observations from 2004 to 2017 is used. Logistic regression is employed to test the hypothesis that risk could predict the occurrence of financial distress after controlling for leverage, profitability and liquidity. Meanwhile, financial distress is measured by using two approaches: negative shareholders equity and shareholders equity of less than 25% of issued and paid-up capital. The result indicates that downside risk is positively significant in explaining financial distress under both approaches. The study has significant insights for investors, creditors and other interested parties where they can use semi-variance or downside risk in forecasting financial distress. By employing effective risk assessment techniques firms can avoid financial distress and can attract potential investors for their firms.
    Keywords: Bursa Malaysia; downside risk; financial distress; logistic regression; leverage; profitability.

  • Identification and Evaluation of Risks in Supply Chain of Milk (A Case Study)   Order a copy of this article
    by Abdollah Shahraki, Mohammad Ghorbani, Ahmadreza Asgharpour Masouleh 
    Abstract: The purpose of present research was to identify and analyze the potential risks in the milk supply chain network by using the Failure Mode, Effects and Critically Analysis approach during 2016 until 2018. The criteria of severity, the probability of occurrence and the severity of the diagnosis were used to assess these risks. The research findings showed that the most important risks belong to sub-systems of ranchers and then milk processing factories. Main risks were prioritized and addressed that needed to focus and employing different risk management strategies to improve the performance of the chain. Government policies fluctuations related to producers was determined as the most important negative risks of the whole chain. Potential impacts of main risks have been identified in the form of impact on costs, quality, and production. Seasonal fluctuations in supply and demand, the elimination of production subsidies, the ineffectiveness of the pricing, the dependence of production on subsidized government was the potential causes of the main risks in the studied chain.
    Keywords: Milk supply chain; Risk Management; Failure Mode; Effects and Critically Analysis (FMECA).
    DOI: 10.1504/IJBCRM.2022.10041267
  • The feasibility of implementing the Committee of Sponsoring Organisations of the Treadway Commission (COSO) Enterprise Risk Management framework in South African Small, Medium and Micro enterprises: A literature review   Order a copy of this article
    by Bruce Masama, Juan-Pierre Bruwer, Leon Gwaka 
    Abstract: The socio-economic contributions of Small, Medium and Micro Enterprises (SMMEs) have proved that they are capable of rejuvenating economies. Hence, governments around the globe have placed their focus on the development and promotion of SMMEs. Unfortunately, in South Africa, SMMEs have one of the highest failure rates in the world and the lack of properly developed risk management skills, is among the main reasons for the latter dispensation. Over the years, an array of formal Enterprise Risk Management (ERM) frameworks have been developed, all with the intent to enhance risk management processes however, research suggests that South African SMMEs neglect the implementation of ERM frameworks, including that of the COSO ERM framework. Considering that the COSO ERM framework is among the most popular ERM frameworks in the world, the primary objective of this study was to ascertain whether this frameworks 2017 revised version is feasible for South African SMMEs to implement, notwithstanding the limited risk management skills evident in the country. Non-empirical research was conducted, taking on the form of an exploratory literature review, which took on a qualitative research methodology. A total of 405 literature sources were identified of which only 99 were included and analysed based on a predefined inclusion and exclusion criteria. From the research conducted, it appears that the implementation of the 2017 revised COSO ERM framework is feasible for implementation by South African SMMEs, at least in a theoretical dispensation.
    Keywords: Risk management; SMMEs; enterprise risk management; ERM; ERM frameworks; South Africa; COSO ERM framework.

  • Emerging Risks and Business Preparedness in the Multifaceted Risk Landscape: Evidence from Malaysian Publicly Listed Companies   Order a copy of this article
    Abstract: The recent outbreak of novel coronavirus (Covid-19) has been recognised as one of the black swan event that poses challenges and global stress. Given the potentially devastating implications of novel coronavirus as a significant emerging risk, many companies have eventually experienced substantial losses that could threaten their survival. Hence, this study adopts triangulation approach to identify the emerging risks that are of greatest concern and commonly used techniques to address such risks among the publicly listed companies in Malaysia. The quantitative findings show that four key areas of emerging risks which are economic risk, environmental, risk, social risk and geopolitical risk are prioritised by the risk managers in their organisation. While, the qualitative findings indicate that strategic planning, key risk indicators (KRIs), business continuity plan and risk maps are commonly used methods to address emerging risks. Theoretically, the findings contribute to an understanding of the emerging risks and the techniques used to better assess the emerging risks present in the multifaceted risk landscape.
    Keywords: "Emerging risks; triangulation; publicly listed companies; multifaceted risk landscape; Malaysia".

  • Antecedents and Consequences of Internal Crisis Communication (ICC) in Malaysian High-risk Industry: A Framework and Agenda for Future Research   Order a copy of this article
    by Bahtiar Mohamad, Adamu Abbas Adamu, Haslina Halim 
    Abstract: In crisis management research, internal crisis communication (ICC) has been identified to be a new area of study. In fact, extant literature has indicated a lack of theoretical development on the dimensions of ICC. This paper aims to make provision accordingly for conceptual clarity on ICC in order to unfold its underlying antecedents and consequences from the employees perspectives in Malaysia high-risk industry through a proposed conceptual framework. Although, it is consolidated that important roles are being played by ICC in strategic management planning as there exists high relevance of managing positive relationship significantly between multiple stakeholders and corporate survival. Following a critical and comprehensive review of multidisciplinary literature using conceptual approach, a model is finally developed. Four antecedents are identified from the outcomes of this study: safety culture, supportive environment, social media perceived usefulness and management commitment. A potential positive relationship is highlighted between ICC, perceived organizational support and affective commitment.
    Keywords: Internal crisis communication; safety culture; supportive environment; management commitment; social media perceived usefulness; perceived organizational support: employee’s crisis perception; affective commitment; high risk industry.

  • Risk and Risk Management: a historical review and research agenda   Order a copy of this article
    by Sankalp Naik, Ch. V.V.S.N.V. Prasad 
    Abstract: This paper aims to compile and improve the current understanding of risk, risk management, risk lexicon, and enterprise risk management (ERM) and summarize theoretical and empirical research regarding the relationship between risk management and firm value by summarizing over a hundred publications from the domain of risk understanding, typology of risk, the evolution of risk management and enterprise risk management. This literature review suggests that better risk management should lead to better risk-taking and not just risk reduction and finds strong theoretical and empirical evidence that risk management leads to improved firm valuations and performance while reducing cash flow uncertainty and return volatility. The literature review validates the positive relationship between risk management and firm value. Firms with sound risk management practices experience higher valuations and lower costs of financial distress. Evidence suggests that ERM has significant potential for wealth creation and cost mitigation.
    Keywords: risk; risk management; risk lexicon; enterprise risk management; firm value; COVID19.
    DOI: 10.1504/IJBCRM.2022.10042570
  • Criticality prioritization of risk factors in the Indian manufacturing industries using TOPSIS   Order a copy of this article
    by Vinod G. Surange, Sanjay U. Bokade 
    Abstract: This article aims to identify the Critical Risk Factors (CRFs) in the Indian manufacturing sector and prioritize them based on their severity. The article further provides the roadmap for effective risk management. Findings from the articles published in peer-reviewed international journals, coupled with the actual industrial scenario, are presented in this paper. This article applies The Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS), one of the key Multi-Criteria Decision Making (MCDM) techniques. Primary data was obtained by consulting fourteen Industry Experts (IEs) from reputed industries. CRFs are ranked in the order of their criticality based on the input received. This article presents TOPSIS demonstration using R software. The article uncovers the ten CRFs in the manufacturing sector. The ranking tool, with consideration of six selected criteria, derived "Supplier-related risks," "Design-related risks," as the foremost risk factors, whereas "Scope change risk," "Safety-related risk," obtained a lesser rank.
    Keywords: Manufacturing; Critical Risk Factors (CRFs); TOPSIS; MCDM; R Software.

  • Predicting Enterprise Risk Management Adoption Among Manufacturing Firms in Suzhou, China   Order a copy of this article
    by Shuqian Lu, Ai Ping Teoh 
    Abstract: The main objective of this study was to ascertain the determinants of Enterprise Risk Management (ERM) adoption for manufacturing firms in Suzhou, China. Supported by the agency theory and resource dependence theory, eight determinants of ERM adoption were identified from extant literature and tested in this study. Since ERM adoption was treated as a dichotomous variable, the effect of the eight independent variables on ERM adoption was analysed by using the Binomial Logistic Regression using the SPSS Statistical Software. Secondary data was obtained from the China Stock Database, annual reports and official websites of 108 manufacturing firms in Suzhou, China. This study recognised Chief Risk Officer, Institutional Ownership, Turnover, Size, International Diversification and Profitability as significant predictors whereas Leverage and Cash Ratio shown no impact on ERM adoption. This study provides policy makers with important guidelines on ERM adoption and contributes towards the development of the Chinese manufacturing market.
    Keywords: Enterprise Risk Management; Adoption; China; Manufacturing; Binomial Logistic Regression.

  • Quality function deployment-based framework for the resilient supply chain   Order a copy of this article
    by Ajeet Kumar Yadav, Cherian Samuel 
    Abstract: The concept of the resilient supply chain has appeared to be one of the essential tools to survive, compete and grow during disturbances and uncertainties. During the current pandemic and the Suez Canal blockage, this concept has once again proven its utility. In this research work, we explore the resilient supply chains concept, capabilities, and practices. And also, an attempt is made to quantify the resilient performance of an Indian manufacturing organization. For this research, a quality function deployment integrated with the weighted sum method approach is used. This research brings about new insights into the concept of risk management through the resilient supply chain. Also, it suggests the portfolios of the resilient practices that enable the organizations to be prepared and recover from the major disruptions.
    Keywords: Supply chain risk; Resilient supply chain; COVID-19; House of the resilient supply chain; Resilient practices; Resilient performance.

  • A robust framework on each disaster management issue: A comparative perspective   Order a copy of this article
    by Jang-Oh Kim, Kyong-Jin Park, Kyoo-Man Ha 
    Abstract: Despite the existence of many evaluation techniques in the field of disaster management, no systematic study has evaluated if a robust frame is available on each disaster management issue. This paper compares how the United States, Indonesia, and Korea have used a robust frame on each disaster management issue. The analysis focuses on three comparative factors: stakeholders, resources, and strategies. Qualitative comparative analysis as a methodology plays a role in drawing a similarity and three differences among the U.S. diverse national frames, the Indonesian frequent disaster frames, and the Korean limited regional frames. The study finds that the three nations have similarly tried to address robust frames, but the extent of the three comparative factors has been very different. A robust framework can be transferrable and generalized to apply to every nature of disaster.
    Keywords: emergency management; resources; the U.S.; Indonesia; Korea.

  • A brief review of literature on issues and challenges of business continuity management for Small and Medium-sized Enterprises in developing countries   Order a copy of this article
    by Mbaulo Musumali, Abubaker Qutieshat 
    Abstract: The purpose of this work is to review and critically analyze existing literature on issues and challenges hindering business continuity management from being widely implemented by Small and Medium-sized Enterprises (SMEs) in developing countries. An electronic search was conducted in Google Scholar, Springer, and ScienceDirect databases using selected keywords to identify all papers published in English from 2012 to 2020. Evaluation of fit for review conducted to shortlist appropriate articles to use. The findings of this review established that despite the gradual increase of publications on business continuity in SMEs, there is still inadequate research interest from the body of research evidenced by few researched papers published on this topic. This work also found that SMEs in developing countries were characterized by low implementation of Business Continuity Management due to low prioritization, limitation of resources, knowledge, and capacity. This work is the only identified recent review of literature on Business Continuity Management for SMEs with a wider context covering developing countries in general and conducted within the last nine years.
    Keywords: Business Continuity Management; Small and Medium-sized Enterprises; SMEs; developing countries; Thailand; Sub-Saharan Africa.

  • Evaluating the Human Aspect of Information Technology Service Recovery in the Public Sector   Order a copy of this article
    by Zoraini Ibrahim, Maryati Yusof 
    Abstract: Information Technology (IT) service recovery is part of the operational recovery that needs to be supported by humans in ensuring successful business continuity. Hence, to ensure smooth implementation of the recovery process, the information exchange between the process should be fast and accurate. However, this can be challenging if humans are not responsive, resulting in subsequent delays that affect the decision-making for further action. The implementation of IT service recovery activities in public sector agencies require guidelines for assessing its effectiveness from human aspects. However, reported evaluation measures for IT service recovery from human aspects are incomprehensive and scarce. Therefore, the paper proposed and validated an evaluation model for IT service recovery using a qualitative case study that employed interviews and document analysis. Based on its comprehensive measures, this model can guide management to evaluate the effectiveness of IT service recovery in the public sector from the human aspect.
    Keywords: business continuity; disaster recovery; disaster recovery plan; human; information technology services; service continuity management.

    by Gurmeet Singh, Ravi Singla 
    Abstract: Financial distress is the situation when a firm faces difficulty regarding the repayment of its financial obligations on due time which may result into business failure. Prediction of financial distress is necessary because of its negative consequences for company, investors, creditors and also for economy. Earlier prediction of financial distress can be used as warning signal to take corrective actions and to avoid the future bankruptcy. Several models have been developed from time to time to predict the probability of failure and among these models Altmans Z-score model is commonly used in practice as a measure of financial distress. This study aims to re-estimate the widely used Altmans model and an attempt is made to develop an improved model by adding new variables to Altmans model. For this purpose, logistic regression is applied and to validate the accuracy of the developed models two diagnostic tests viz. testing sample and Receiver Operating Characteristic (ROC) curve are used. Results of testing sample showed that Model_2 achieved higher predictive power than Model_1 in all the years from 2011 to 2015. Similar results are also found when accuracy of the model is measured by area under the ROC curve. Area under the curve for Model_1 and Model_2 is found to be 0.965 and .988 respectively. It can be concluded that re-estimated model has better predictive power which can be used to predict financial distress and to avoid future bankruptcy.
    Keywords: Altman’s model; Business failure; Financial distress prediction; Financial ratios; Logistic regression; Receiver Operating Characteristic (ROC) curve.

  • A modelling and management approach to risks in reverse logistics implementation   Order a copy of this article
    by Himanshu Prajapati, Ravi Kant, Ravi Shankar 
    Abstract: This research aims to identify and model the Reverse Logistics (RL) risk variables to estimate the risks associated with their deployment. Furthermore, it suggests risk management techniques to execute the RL implementation effectively. The Delphi technique, Interpretive Structural Modeling (ISM), and Fuzzy Cross-Impact Matrix Multiplication Applied to Classification (F-MICMAC) create a hybrid research framework in this study. Delphi determines the RL risk factors, and ISM creates a structural model to examine the contextual connection between them, followed by F-MICMAC classification. The key risk elements connected with RL implementation include government policy risk (driving power = 13.8 and effectiveness = 13.1) and management policy risk (driving power = 12.2 and effectiveness = 12.1). This research recommends mitigating the critical risk factors for effective RL deployment. Financial and Economic Risk (dependence power = 13.5 and effectiveness = -13.5) is the only risk at the top level of the ISM-F-MICMAC model. It is the ultimately driven variable in the system. Major RL risk management strategies include collaboration with network partners, risk-sharing with stakeholders, strong mutual trust among collaborators, improved forecasting techniques, and continuous information sharing. The current evaluation is extremely beneficial in identifying the driving and dependence power and the efficacy of a certain risk, which helps in segregating them for RL implementation.
    Keywords: Reverse Logistics; Risks; Reverse Supply Chain; Risk Management; Delphi; Interpretive Structural Modeling; Fuzzy Cross-Impact Matrix Multiplication Applied to Classification.

  • A Multi-level Model for the Successful Turnaround of Declining Manufacturing Organizations An Investigative Study   Order a copy of this article
    by Sai Maitreya Ganti Mahapatruni, Meher Sai Saran Bolisetty, Sai Babu Bonthu, Ganesh Seethepalli, P.G. Saleeshya 
    Abstract: Indian Manufacturing organizations are under constant scrutiny. The entry of global supply-chain and manufacturing players made it difficult for Indian manufacturers to establish themselves in the competitive market. This led to the continual decline of firms that were unable to cope with the competition. The decrease in a firms performance further demoralizes owners and stakeholders, forcing them to sell the firm to global players. This study presents a Two leveled model that divides the entire working of a manufacturing firm into 6 Impact areas where firms must focus on improving their performance. The model consists of various reasons for an organizations decline and presents suitable strategies to overcome these reasons. A survey was conducted based on the developments from the model from 5 manufacturing clusters to compare their stand against leading performers and to suggest areas of improvement with the help of the Analytical Hierarchy Process and the Pugh Matrix methodology. The comparison involved a biological method that birds use to differentiate their eggs from a cuckoos egg. This method can be used for performance measurement and suggestions for performance Improvement of any manufacturing firm among the identified clusters.
    Keywords: Supply chain; decline; performance improvement; turnaround; Impact Areas; Analytical Hierarchy Process; Pugh Matrix Methodology; Biological methodology.

  • Carving Strategic Resilience Roadmap for Indian Automotive Industry Using Hybrid Analytical Approach   Order a copy of this article
    by Aditya Gautam, Asif Akhtar, Mrinalini Shah, Umang Soni 
    Abstract: The automotive industry is in its transformation phase. The increasing environmental concerns such as temperature rise, pollution in major cities, and global warming, leading to new emission guidelines (NEG) are the major driving forces. The NEG has not only exposed the industry to challenges but is also ready to offer oceans of opportunities to the industry players. The principle aim of this study is to conceptualize the strategic intent and provide a framework for industry professionals to deal with challenges and threats compensated by industry strength and new opportunities effectively. A systematic hybrid analytical approach combining SWOT analysis, analytical hierarchy process, and external and internal factor evaluation modeling is applied to calculate the score of each environmental factor. Later, the results of the external and internal factor scores are plotted on the SPACE graph. A set of alternative strategic actions has been recommended and prioritized using the QSPM to deal with these challenges effectively.
    Keywords: Business continuity; Bharat Stage – VI; Electric vehicles; External Factor Evaluation (EFE); Internal Factor Evaluation (IFE); Automotive industry; Quantitative Strategic Planning Matrix (QSPM); Strategic Position and Action Evaluation (SPACE); Strategy; Strengths; Weaknesses; Opportunities & Threats (SWOT); Analytical Hierarchy Process (AHP); strategies.

  • TQM and Hospitals Performance: A Bibliometric Analysis   Order a copy of this article
    by Fahmi Natigor Nasution, Erlina Erlina, Yeni Absah, Rujiman Rujiman 
    Abstract: This article aims to use bibliometric analysis to examine existing works and literature on TQM and Performance to explore the concepts evolving journey since its conception. This study applies bibliometric approaches such as citation, co-citation, and co-occurrence of author keywords based on a bibliometric analysis of 137 publications extracted from the Scopus database between 2004 and September 2021. This research examines the kind and direction of research on TQM and hospital performance undertaken over the last few decades. It also identifies the most influential writers, journals, institutions, and countries concerning TQM and hospital performance. This study might provide academics and practitioners with detailed insights into the TQM and hospital performance concepts, which can subsequently be used as a reference for strategic efforts.
    Keywords: TQM; Hospital; Performance; Bibliometric Analysis; Scopus.

  • Assessing the Factors Affecting the Liquidity Risk in Jordanian Commercial Banks: A Panel Data Analysis   Order a copy of this article
    by Nusiebeh Nahar Falah Alrwashdeh, Rizwan Ahmed, Muhammad Hasan Danish, Qasim Shah 
    Abstract: One of the main purpose of banks risk management is to control credit and liquidity risk which are the main sources of risk. This research explores factors affecting liquidity risk of commercial banks operating in Jordan, spanning from 2003 through 2017. The sample of the study includes all commercial banks by employing pooled OLS and panel 2SLS econometric techniques. Findings of the study show that bank size, return on assets (ROA), capital Adequacy Ratio (CAR), risk, non-performing loans (NPL), T-equality and T-liability have a positive impact on liquidity risk. While return on equity (ROE) shows the negative and significant impact on the liquidity risk. This study suggests that authorities should trace and monitor the determined internal factors that have a negative impact on the liquidity of banks to minimize bank run chances.
    Keywords: Liquidity risk; Commercial bank; Jordan; ROA; CAR; Panel data.

  • Founder-entrepreneurs personality characteristics and their influence on risk strategies within High-tech Software SMEs in China   Order a copy of this article
    by Yanzhi Huang, Bidyut Baruah, Tony Ward 
    Abstract: Although the Chinese high-tech market has grown rapidly in recent years, only a limited number of entrepreneurial studies have focused on these areas particularly the significant role of founder-entrepreneurs and the impact of their personality characteristics during their companys development. Now with COVID-19 and its complexity, there are various ongoing challenges for these founder-entrepreneurs something which needs further research. To fill this gap, this study selected 9 successful Chinese high-tech software SMEs with an objective to understand the risk attitude and strategies of their founder-entrepreneurs. And as part of the study, the Chinese Big Five Personality Inventory Brief Version (CBF-PI-B) was chosen. The analysis showed how different personality traits such as Neuroticism, Agreeableness and Openness can have a high impact on founder-entrepreneurs risk attitude, decision making and strategy selection. This paper makes an important contribution to the literature on Chinese SMEs and risk management during COVID-19.
    Keywords: Entrepreneurship; Personality traits; Chinese High-tech market; SMEs; Risk management; Big-5 Personality.