Navigating change : managing firm risks in turbulent times

Zoller-Rydzek, Benedikt; Gurova, Siyana; Keller, Florian

Publication type:	Conference paper
Type of review:	Not specified
Title:	Navigating change : managing firm risks in turbulent times
Authors:	Zoller-Rydzek, Benedikt Gurova, Siyana Keller, Florian
et. al:	No
Conference details:	49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023
Issue Date:	15-Dec-2023
Language:	English
Subjects:	Geopolitical risk; Risk mitigation strategy; Diversification; Risk assessment; Domestic focus; Firm characteristics; MNE; Switzerland
Subject (DDC):	658.408: Security management, environmental management
Abstract:	This study examines how firm characteristics influence risk perception and management in an environment of increasing geopolitical tensions. The first part focuses on how firms’ size, sector, and multinational status correlate with their perceived exposure to market access, financial, supply chain, and cyber risks. The second part evaluates how these same characteristics affect the effectiveness of various risk mitigation strategies against these risks. Utilizing data from the 2023 Swiss Managers Survey, we employ multinomial and ordered logit models to investigate these interrelated aspects. Our findings indicate that larger firms prioritize financial and cyber risks in turbulent times, while manufacturing firms perceive all risk categories as significant. Contrary to prevailing assumptions, a firm’s multinational status does not markedly influence its risk perception. In terms of risk mitigation, multinational firms are found less effective in mitigating risks through domestic market focus and risk assessment techniques, whereas service sector multinationals gain more from diversification strategies. These insights contribute to academic literature and practical business applications, providing a vital guide for navigating the complexities of risk management across diverse business contexts and enhancing resilience in the face of global geopolitical uncertainties.
URI:	https://digitalcollection.zhaw.ch/handle/11475/30030
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Appears in collections:	Publikationen School of Management and Law

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Zoller-Rydzek, B., Gurova, S., & Keller, F. (2023, December 15). Navigating change : managing firm risks in turbulent times. 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023.

Zoller-Rydzek, B., Gurova, S. and Keller, F. (2023) ‘Navigating change : managing firm risks in turbulent times’, in 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023.

B. Zoller-Rydzek, S. Gurova, and F. Keller, “Navigating change : managing firm risks in turbulent times,” in 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023, Dec. 2023.

ZOLLER-RYDZEK, Benedikt, Siyana GUROVA und Florian KELLER, 2023. Navigating change : managing firm risks in turbulent times. In: 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023. Conference paper. 15 Dezember 2023

Zoller-Rydzek, Benedikt, Siyana Gurova, and Florian Keller. 2023. “Navigating Change : Managing Firm Risks in Turbulent Times.” Conference paper. In 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023.

Zoller-Rydzek, Benedikt, et al. “Navigating Change : Managing Firm Risks in Turbulent Times.” 49th Conference of the European International Business Academy (EIBA), Lisbon, Portugal, 15-17 December 2023, 2023.