Inderscience Publishers

Can flexibility improve operational performance? A risk analysis of the Asian financial crisis

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Courtesy of Inderscience Publishers

Is the performance of overseas investment enterprises affected by changes taking risk in the international environment? Is their flexibility in the function of enterprises? If flexibility works, is it based on flexibility previously accumulated or flexibility derived and added to certain environmental impacts? The risk on the Asian financial crisis provides an excellent opportunity to test the function of flexibility in facing these issues. We apply the ordered probit model to analyse what affects the change status of operational performance. The results show that only a change in flexibility has a positive influence on the change status of a firm's operational performance. Flexibility must be increased to improve the operational performance of a company undertaking risk in an operational environment. We also find that the financial crisis in Asia is an overall, worldwide change in the international operation environment. All enterprises are impacted upon, regardless of their location, industry, or function.

Keywords: Asian financial crisis, flexibility, operational performance, ordered probit model, risk analysis

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