Supply chain resilience and market performance amid COVID-19 disruptions: The role of relational capital and supply chain disruption orientation in South Korean firms
Subject Areas : Executive Management
Aaron Stephens
1
(
Department of Business Administration and Accounting, Hartwick College, Oneonta, NY 13820, USA
)
Charles Robb
2
(
Linton Global School, Global Business, Daejeon, 34430, South Korea
)
Min-Hyo Kang
3
(
Department of Business Administration, Dongguk University WISE Campus, Gyeongju, 38066, South Korea
)
Keywords:
Abstract :
Aldrighetti, R., Battini, D., Ivanov, D., & Zennaro, I. (2021). Costs of resilience and disruptions in supply chain network design models: A review and future research directions. International Journal of Production Economics, 235, 108103. https://doi.org/10.1016/j.ijpe.2021.108103
Ambulkar, S., Blackhurst, J., & Grawe, S. (2015). Firm’s resilience to supply chain disruptions: Scale development and empirical examination. Journal of Operations Management, 33-34(1), 111-122. https://doi.org/10.1016/j.jom.2014.11.002
Bode, C., Wagner, S. M., Petersen, K. J., & Ellram, L. M. (2011). Understanding Responses to Supply Chain Disruptions: Insights from Information Processing and Resource Dependence Perspectives. Academy of Management Journal, 54(4), 833-856. https://doi.org/10.5465/amj.2011.64870145
Carey, S., Lawson, B., & Krause, D. R. (2011). Social capital configuration, legal bonds and performance in buyer-supplier relationships. Journal of Operations Management, 29(4), 277-288. https://doi.org/10.1016/j.jom.2010.08.003
Cepeda-Carrion, G., Cegarra-Navarro, J.-G., & Cillo, V. (2019). Tips to use partial least squares structural equation modelling (PLS-SEM) in knowledge management. Journal of Knowledge Management, 23(1), 67-89. https://doi.org/10.1108/JKM-05-2018-0322
Chabowski, B. R., Mena, J. A., & Gonzalez-Padron, T. L. (2011). The structure of sustainability research in marketing, 1958-2008: A basis for future research opportunities. Journal of the Academy of Marketing Science, 39(1), 55-70. https://doi.org/10.1007/s11747-010-0212-7
Chung, H., Birkett, H., Forbes, S., & Seo, H. (2021). Covid-19, Flexible Working, and Implications for Gender Equality in the United Kingdom. Gender & Society, 35(2), 218-232. https://doi.org/10.1177/08912432211001304
Craighead, C. W., Ketchen, D. J., & Cheng, L. (2016). “Goldilocks” Theorizing in Supply Chain Research: Balancing Scientific and Practical Utility via Middle-Range Theory. Transportation Journal, 55(3), 241-257. https://doi.org/10.5325/transportationj.55.3.0241
Craighead, C. W., Ketchen, D. J., & Darby, J. L. (2019). Taking AIM at Theoretical and Pragmatic Impact: A Call for Actionable, Insightful, and Measurable Research. Journal of Business Logistics, 40(4), 289-298. https://doi.org/10.1111/jbl.12214
Craighead, C. W., Ketchen, D. J., & Darby, J. L. (2020). Pandemics and Supply Chain Management Research: Toward a Theoretical Toolbox. Decision Sciences, 51(4), 838-866. https://doi.org/10.1111/deci.12468
Dyer, J. H., & Singh, H. (1998). The Relational View: Cooperative Strategy and Sources of Interorganizational Competitive Advantage. The Academy of Management Review, 23(4), 660. https://doi.org/10.2307/259056
Fornell, C., & Larcker, D. F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1), 39. https://doi.org/10.2307/3151312
Fuller, C. M., Simmering, M. J., Atinc, G., Atinc, Y., & Babin, B. J. (2016). Common methods variance detection in business research. Journal of Business Research, 69(8), 3192-3198. https://doi.org/10.1016/j.jbusres.2015.12.008
Gligor, D., Bozkurt, S., Russo, I., & Omar, A. (2019). A look into the past and future: Theories within supply chain management, marketing and management. Supply Chain Management: An International Journal, 24(1), 170-186. https://doi.org/10.1108/SCM-03-2018-0124
Gölgeci, I., & Kuivalainen, O. (2020). Does social capital matter for supply chain resilience? The role of absorptive capacity and marketing-supply chain management alignment. Industrial Marketing Management, 84, 63-74. https://doi.org/10.1016/j.indmarman.2019.05.006
Golgeci, I., & Y. Ponomarov, S. (2013). Does firm innovativeness enable effective responses to supply chain disruptions? An empirical study. Supply Chain Management: An International Journal, 18(6), 604-617. https://doi.org/10.1108/SCM-10-2012-0331
Hair, J. F., Hult, G. T. M., Ringle, C. M., Sarstedt, M., Danks, N. P., & Ray, S. (2021). Partial Least Squares Structural Equation Modeling (PLS-SEM) Using R: A Workbook. Springer International Publishing. https://doi.org/10.1007/978-3-030-80519-7
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a Silver Bullet. Journal of Marketing Theory and Practice, 19(2), 139-152. https://doi.org/10.2753/MTP1069-6679190202
Henseler, J., Ringle, C. M., & Sinkovics, R. R. (2009). The use of partial least squares path modeling in international marketing. In R. R. Sinkovics & P. N. Ghauri (Eds.), Advances in International Marketing (Vol. 20, pp. 277-319). Emerald Group Publishing Limited. https://doi.org/10.1108/S1474-7979(2009)0000020014
Henseler, J., & Sarstedt, M. (2013). Goodness-of-fit indices for partial least squares path modeling. Computational Statistics, 28(2), 565-580. https://doi.org/10.1007/s00180-012-0317-1
Hu, L., & Bentler, P. M. (1999). Cutoff criteria for fit indexes in covariance structure analysis: Conventional criteria versus new alternatives. Structural Equation Modeling: A Multidisciplinary Journal, 6(1), 1-55. https://doi.org/10.1080/10705519909540118
Hu, S., Hsu, C., & Zhou, Z. (2021). The impact of SETA event attributes on employees’ security-related Intentions: An event system theory perspective. Computers & Security, 109, 102404. https://doi.org/10.1016/j.cose.2021.102404
Im, J., Kim, J., & Choeh, J. Y. (2021). COVID-19, social distancing, and risk-averse actions of hospitality and tourism consumers: A case of South Korea. Journal of Destination Marketing & Management, 20, 100566. https://doi.org/10.1016/j.jdmm.2021.100566
Ivanov, D. (2020). Predicting the impacts of epidemic outbreaks on global supply chains: A simulation-based analysis on the coronavirus outbreak (COVID-19/SARS-CoV-2) case. Transportation Research Part E: Logistics and Transportation Review, 136, 101922. https://doi.org/10.1016/j.tre.2020.101922
Ivanov, D., & Dolgui, A. (2020). Viability of intertwined supply networks: Extending the supply chain resilience angles towards survivability. A position paper motivated by COVID-19 outbreak. International Journal of Production Research, 58(10), 2904-2915. https://doi.org/10.1080/00207543.2020.1750727
Kang, M., & Stephens, A. R. (2022). Supply chain resilience and operational performance amid COVID-19 supply chain interruptions: Evidence from South Korean manufacturers. Uncertain Supply Chain Management, 10(2), 383-398. https://doi.org/10.5267/j.uscm.2021.12.013
Kanwal, A., & Rajput, A. (2016). A Transaction Cost Framework in Supply Chain Relationships: A Social Capital Perspective. Journal of Relationship Marketing, 15(1-2), 92-107. https://doi.org/10.1080/15332667.2016.1158048
Kim, J., Kim, J., Lee, S. K., & Tang, L. (Rebecca). (2020). Effects of epidemic disease outbreaks on financial performance of restaurants: Event study method approach. Journal of Hospitality and Tourism Management, 43, 32-41. https://doi.org/10.1016/j.jhtm.2020.01.015
Kim, S. W. (2009). An investigation on the direct and indirect effect of supply chain integration on firm performance. International Journal of Production Economics, 119(2), 328-346. https://doi.org/10.1016/j.ijpe.2009.03.007
Kock, N. (2015). Common Method Bias in PLS-SEM: A Full Collinearity Assessment Approach. International Journal of e-Collaboration, 11(4), 1-10. https://doi.org/10.4018/ijec.2015100101
Kock, N., & Gaskins, L. (2014). The Mediating Role of Voice and Accountability in the Relationship Between Internet Diffusion and Government Corruption in Latin America and Sub-Saharan Africa. Information Technology for Development, 20(1), 23-43. https://doi.org/10.1080/02681102.2013.832129
Kumar, S., & Bhatia, M. S. (2021). Environmental dynamism, industry 4.0 and performance: Mediating role of organizational and technological factors. Industrial Marketing Management, 95, 54-64. https://doi.org/10.1016/j.indmarman.2021.03.010
Lawson, B., Tyler, B. B., & Cousins, P. D. (2008). Antecedents and consequences of social capital on buyer performance improvement. Journal of Operations Management, 26(3), 446-460. https://doi.org/10.1016/j.jom.2007.10.001
Li, Y., Chen, K., Collignon, S., & Ivanov, D. (2021). Ripple effect in the supply chain network: Forward and backward disruption propagation, network health and firm vulnerability. European Journal of Operational Research, 291(3), 1117-1131. https://doi.org/10.1016/j.ejor.2020.09.053
Liu, Z. (2020). Achieving Supply Chain Resilience to Improve Performance under a Global Sourcing Context. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3715691
McFarland, L. A., Reeves, S., Porr, W. B., & Ployhart, R. E. (2020). Impact of the COVID-19 pandemic on job search behavior: An event transition perspective. Journal of Applied Psychology, 105(11), 1207-1217. https://doi.org/10.1037/apl0000782
Morgeson, F. P., Mitchell, T. R., & Liu, D. (2015). Event System Theory: An Event-Oriented Approach to the Organizational Sciences. Academy of Management Review, 40(4), 515-537. https://doi.org/10.5465/amr.2012.0099
Mubarik, M. S., Bontis, N., Mubarik, M., & Mahmood, T. (2022). Intellectual capital and supply chain resilience. Journal of Intellectual Capital, 23(3), 713-738. https://doi.org/10.1108/JIC-06-2020-0206
Nitzl, C., Roldan, J. L., & Cepeda, G. (2016). Mediation analysis in partial least squares path modeling: Helping researchers discuss more sophisticated models. Industrial Management & Data Systems, 116(9), 1849-1864. https://doi.org/10.1108/IMDS-07-2015-0302
Nunnally, J., & Bernstein, I. (1994). Psychometric Theory (3rd ed). McGraw-Hill, New York.
Oh, S., Moon, H. C., & Zhong, Y. (2020). Contingency Management and Supply Chain Performance in Korea: A COVID-19 Pandemic Approach. Sustainability, 12(23), 9823. https://doi.org/10.3390/su12239823
Parast, M. M., & Shekarian, M. (2019). The Impact of Supply Chain Disruptions on Organizational Performance: A Literature Review. In G. A. Zsidisin & M. Henke (Eds.), Revisiting Supply Chain Risk (Vol. 7, pp. 367-389). Springer International Publishing. https://doi.org/10.1007/978-3-030-03813-7_21
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879-903. https://doi.org/10.1037/0021-9010.88.5.879
Polyviou, M., Croxton, K. L., & Knemeyer, A. M. (2019). Resilience of medium-sized firms to supply chain disruptions: The role of internal social capital. International Journal of Operations & Production Management, 40(1), 68-91. https://doi.org/10.1108/IJOPM-09-2017-0530
Ponomarov, S. Y., & Holcomb, M. C. (2009). Understanding the concept of supply chain resilience. The International Journal of Logistics Management, 20(1), 124-143. https://doi.org/10.1108/09574090910954873
Reimann, F., Kosmol, T., & Kaufmann, L. (2017). Responses to Supplier-Induced Disruptions: A Fuzzy-Set Analysis. Journal of Supply Chain Management, 53(4), 37-66. https://doi.org/10.1111/jscm.12141
Robb, C. A., & Stephens, A. R. (2021). The Effects of Market Orientation and Proactive Orientation on the Export Performance of South African SMEs. Journal of Global Marketing, 34(5), 392-410. https://doi.org/10.1080/08911762.2021.1894625
Robb, C., Kang, M., & Stephens, A. (2022). The effects of dynamism, relational capital, and ambidextrous innovation on the supply chain resilience of U.S. firms amid COVID-19. Operations and Supply Chain Management: An International Journal, 1-16. https://doi.org/10.31387/oscm0480326
Rutten, W., Blaas-Franken, J., & Martin, H. (2016). The impact of (low) trust on knowledge sharing. Journal of Knowledge Management, 20(2), 199-214. https://doi.org/10.1108/JKM-10-2015-0391
Sarstedt, M., Ringle, C. M., Henseler, J., & Hair, J. F. (2014). On the Emancipation of PLS-SEM: A Commentary on Rigdon (2012). Long Range Planning, 47(3), 154-160. https://doi.org/10.1016/j.lrp.2014.02.007
Scala, B., & Lindsay, C. F. (2021). Supply chain resilience during pandemic disruption: Evidence from healthcare. Supply Chain Management: An International Journal, 26(6), 672-688. https://doi.org/10.1108/SCM-09-2020-0434
Stephens, A. R., Kang, M., & Robb, C. A. (2022). Linking Supply Chain Disruption Orientation to Supply Chain Resilience and Market Performance with the Stimulus–Organism–Response Model. Journal of Risk and Financial Management, 15(5), 227. https://doi.org/10.3390/jrfm15050227
Thi Mai Anh, N., Hui, L., Khoa, V. D., & Mehmood, S. (2019). Relational capital and supply chain collaboration for radical and incremental innovation: An empirical study in China. Asia Pacific Journal of Marketing and Logistics, 31(4), 1076-1094. https://doi.org/10.1108/APJML-10-2018-0423
Wang, Y. (2016). Investigating dynamic capabilities of family businesses in China: A social capital perspective. Journal of Small Business and Enterprise Development, 23(4), 1057-1080. https://doi.org/10.1108/JSBED-12-2015-0175
Wetzels, Odekerken-Schröder, & van Oppen. (2009). Using PLS Path Modeling for Assessing Hierarchical Construct Models: Guidelines and Empirical Illustration. MIS Quarterly, 33(1), 177. https://doi.org/10.2307/20650284
Williams, Z., Lueg, J. E., Hancock, T., & Goffnett, S. P. (2019). Positioning through B2B carrier signals: Understanding how service quality is communicated via websites. Industrial Marketing Management, 81, 54-64. https://doi.org/10.1016/j.indmarman.2018.09.007
Wong, C. W. Y., Lirn, T.-C., Yang, C.-C., & Shang, K.-C. (2020). Supply chain and external conditions under which supply chain resilience pays: An organizational information processing theorization. International Journal of Production Economics, 226, 107610. https://doi.org/10.1016/j.ijpe.2019.107610
Wright, O., & Grace, A. (2011). Trust and commitment within franchise systems: An Australian and New Zealand perspective. Asia Pacific Journal of Marketing and Logistics, 23(4), 486-500. https://doi.org/10.1108/13555851111165048
Wu, I.-L., Chuang, C.-H., & Hsu, C.-H. (2014). Information sharing and collaborative behaviors in enabling supply chain performance: A social exchange perspective. International Journal of Production Economics, 148, 122-132. https://doi.org/10.1016/j.ijpe.2013.09.016
Yu, W., Jacobs, M. A., Chavez, R., & Yang, J. (2019). Dynamism, disruption orientation, and resilience in the supply chain and the impacts on financial performance: A dynamic capabilities perspective. International Journal of Production Economics, 218, 352-362. https://doi.org/10.1016/j.ijpe.2019.07.013
Yu, Y., & Huo, B. (2019). The impact of environmental orientation on supplier green management and financial performance: The moderating role of relational capital. Journal of Cleaner Production, 211, 628-639. https://doi.org/10.1016/j.jclepro.2018.11.198
Zacharia, Z. G., Nix, N. W., & Lusch, R. F. (2011). Capabilities that enhance outcomes of an episodic supply chain collaboration. Journal of Operations Management, 29(6), 591-603. https://doi.org/10.1016/j.jom.2011.02.001
Zhao, K., Zuo, Z., & Blackhurst, J. V. (2019). Modelling supply chain adaptation for disruptions: An empirically grounded complex adaptive systems approach. Journal of Operations Management, 65(2), 190-212. https://doi.org/10.1002/joom.1009
Zhou, H., & Benton, W. C. (2007). Supply chain practice and information sharing. Journal of Operations Management, 25(6), 1348-1365. https://doi.org/10.1016/j.jom.2007.01.009
Zhu, G., Chou, M. C., & Tsai, C. W. (2020). Lessons Learned from the COVID-19 Pandemic Exposing the Shortcomings of Current Supply Chain Operations: A Long-Term Prescriptive Offering. Sustainability, 12(14), 5858. https://doi.org/10.3390/su12145858