Psychological resilience and business survival chances: A study of small firms in the USA during COVID-19

Chhatwani, Malvika, Mishra, Sushanta Kumar, Varma, Arup and Rai, Himanshu (2022) Psychological resilience and business survival chances: A study of small firms in the USA during COVID-19. Journal of Business Research, 142. pp. 277-286. ISSN 0148-2963

[thumbnail of JBR2022MC.pdf] Text
JBR2022MC.pdf - Published Version
Restricted to Repository staff only

Download (740kB) | Request a copy


Small firms make huge contributions to the circular economy. However, survival of these firms has been a concern, more so in the context of COVID-19. Hence, it is critical to understand the factors predicting business survival chances of small firms. The present study examines whether owners’ resilience (a psychological resource) is positively related to small firms’ business survival chances during the pandemic. We borrowed from the broaden-and-build theory to posit that psychological resilience provides a broadened repertoire of resources which help in coping with depression, leading to higher chances of business survival. Further, using a sample of 657 small firm owners, we investigated if direct and indirect linkages between psychological resilience and business survival chances change with owners’ experience of financial fragility (i.e., lack of financial resources). Our study carries significant implications for theory and practice.

Item Type: Article
Keywords: Business survival chances | COVID-19 | Small firms | Psychological resilience | Financial fragility
Subjects: Social Sciences and humanities > Business, Management and Accounting > General Management
Social Sciences and humanities > Social Sciences > Health (Social sciences)
JGU School/Centre: Jindal School of Banking & Finance
Depositing User: Shilpi Rana
Date Deposited: 24 Jan 2022 05:07
Last Modified: 05 Feb 2022 08:20
Official URL:
Additional Information: The study draws on data from the surveys administered by the Understanding America Study (UAS), which is maintained by the Center for Economic and Social Research (CESR) at the University of Southern California. The content of this paper is solely the responsibility of the authors and does not necessarily represent the official view of USC or UAS.


Downloads per month over past year

Actions (login required)

View Item
View Item