Resilience Strategies of Danish Firms in the Pandemic. A Survey Analysis

This study investigates the resilience of Danish firms during the COVID-19 pandemic, focusing on their survival strategies and growth trajectories. We use a unique dataset that combines our survey with information on several management strategies that are representative nationwide with administrative registry data. Using regression analyses, the study explores the impact of various management strategies on firms' employment dynamics. Controlling for firm and location characteristics, our results suggest that strategies like facilitating work from home, product switching, and increasing capital investments positively correlate with the firm’s employment growth. Moreover, firms that received state support, centralized their decision-making process, and insourced production are associated with negative growth. Our results contribute to a broader understanding of how businesses adapt and survive in times of crisis, which is crucial for future planning and crisis management. The analyses also highlight the varying impacts of management strategies on firm’s resilience depending on the urbanisation type of its location, urban vs. rural. The goal is to equip businesses and policymakers with the knowledge and strategies to navigate future challenges effectively.