Organizational adaptation in an economic shock: The role of growth reconfiguration
研究发现，1997年亚洲经济冲击中，企业追求增长反而降低了绩效并增加了失败风险；外部制度环境比内部资源（如财务冗余或产品多元化）更能帮助企业适应冲击。
Studies suggest that firms navigating an economic shock can adapt and improve performance by targeting perceived growth opportunities. A puzzle, however, is that an economic shock increases environmental uncertainty and therefore the risk associated with growth reconfiguration. This study finds that growth reduced performance and increased the risk of firm failure during the Asian economic shock of 1997. Growing firms differed in the extent to which they were able to mitigate the constraints imposed by the shock. However, the presence of developed external institutions played a more systematic role in their adaptation than did organizational resources represented by financial slack or product diversification. The deliberate attempt to reconfigure augmented the adverse effect of the economic shock on firm performance and survival . Copyright © 2014 John Wiley & Sons, Ltd.