Abstract
The COVID-19 pandemic shocked the global economy, with numerous companies suffering losses and shutting down. However, some companies proved to be resilient, being able to sustain their economic performance despite the pandemic. The study aims to explain the sustainable economic performance of companies during the COVID-19 pandemic. The relationships between empowering leadership, innovative work behavior, organizational readiness to change, and sustainable economic performance were assessed. The data were collected via an online questionnaire from January 2021 to March 2021, during the height of the COVID-19 pandemic in Russia. The respondents were Russian companies’ employees holding management positions, competent to objectively assess organizational circumstances during the COVID-19 pandemic. A sample of 337 was used in the analysis. Confirmatory factor analysis (CFA) with maximum likelihood estimation was conducted using SPSS AMOS. The structural model was tested with standardized parameter estimates, standard errors, and p-values calculated. The findings of the study suggest that innovative work behavior and organizational readiness to learn have a direct influence on sustainable economic performance. The findings also suggest that empowering leadership impacts innovative work behavior but not sustainable economic performance. The mediation analysis indicates that innovative work behavior is a mediator between empowering leadership and sustainable economic performance, whereas organizational readiness to learn is not a moderator. The study adds to the leadership and sustainability body of knowledge and contributes to the research on the COVID-19 pandemic in the organizational context.
Highlights
IntroductionThe COVID-19 pandemic posed a shock to the global economy, striking national economies and industries, and deeply challenging settled operational styles
We investigate the impact of empowering leadership on sustainable economic performance via innovative work behavior of employees in the sample of Russian firms
Analysis of the study was conducted by using structural equation modeling (SEM) in the SPSS AMOS
Summary
The COVID-19 pandemic posed a shock to the global economy, striking national economies and industries, and deeply challenging settled operational styles. The majority of national governments invested significant resources in constraining the spread and buffering the financial blow by introducing monetary aid and tax relief. Large economies relying on service provision are anticipated to recover more sluggishly in comparison to other EMDEs, at a pace of 3.2% in 2021–2022, and industrial-commodity exporters’ growth will lag at approx. Such distressing numbers are to be attributed
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