Recent Studies from Amrita Vishwa Vidyapeetham Add New Data to Risk Management (Readiness of financial resilience in start-ups): Insurance – Risk Management

Insurance Daily News

2023 SEP 07 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on risk management have been presented. According to news reporting out of Coimbatore, India, by NewsRx editors, research stated, “Financial resilience refers to a start-up’s capacity to anticipate, plan for, respond to, and adapt to gradual change and abrupt unforeseen shocks to survive and thrive by enacting appropriate economic policies to decrease budget deficits.”

Our news journalists obtained a quote from the research from Amrita Vishwa Vidyapeetham: “Economic history tells us that more companies fail to emerge from a downturn than go into or during it. Many studies have been done on financial resilience in many dimensions, but no one has studied start-ups’ organizational readiness for financial resilience. This gap inspires the current research, which uses the Total Interpretive Structural Modelling (TISM) approach to identify financial resilience factors and analyze hierarchical interrelationships start-ups’ organizational readiness factors for financial resilience. This article aims to identify, assess, and categorize start-up organizational preparation elements for financial resilience. The result shows that the first importance should be given to digital financial innovation, liquidity planning, going concern consideration, financial strategy of CFOs, and cyberthreats. Managers of start-ups can utilize the findings of this study to prepare for financial resilience professionally.”

According to the news reporters, the research concluded: “In a fast-paced environment, start-ups may use financial resilience to gain a competitive edge.”

For more information on this research see: Readiness of financial resilience in start-ups. Journal of Safety Science and Resilience, 2023,4(3):241-252. The publisher for Journal of Safety Science and Resilience is KeAi Communications Co., Ltd.

A free version of this journal article is available at https://doi.org/10.1016/j.jnlssr.2023.02.004.

Our news editors report that additional information may be obtained by contacting Aswathy Sreenivasan, Amrita School of Business, Amrita Vishwa Vidyapeetham, Coimbatore 641 112, India. Additional authors for this research include M. Suresh.