In times of crisis, cash and liquidity play an essential role. This paper analyzes the working capital measures over the course of a business cycle. We examine (1) how companies behave in economic downturns regarding their working capital components and (2) whether firms with higher financial...

Purpose This paper aims to investigate how firms can enhance their resilience in response to the disruptions caused by the COVID-19 pandemic. Specifically, the study focuses on assessing responsiveness as an antecedent and logistics outsourcing as a boundary condition to resilience....