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Building Financial Resilience through Digitalization: why Culture Matters?

  • Nov 26, 2025
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Abstract Book of the 10th International Conference on Management, Economics and Finance

Year: 2025

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Building Financial Resilience through Digitalization: why Culture Matters?

Jagriti Srivastava

ABSTRACT:

This study explores the impact of digitalization on small and medium sized enterprises (SMEs) likelihood of default. Using a cross-country sample of 4,147 firms from 31 countries, I find that SMEs’ adaptation to work from home (WFH) and online sales model reduces their likelihood of default during the pandemic period. The author also finds the negative moderating role of national culture (collectivism) on the relationship between digitalization and the likelihood of default.

Keywords: Digitalization, Default Risk, Culture, Collectivism, Smes