Strategien der Schweizer Unternehmen zur Bewältigung der Finanz- und Wirtschaftskrise von 2008

We find that the number of actions taken by Swiss firms as reaction to the crisis of 2008 are positively correlated to R&D and export intensity, negatively to labour productivity and posi - tively to the share of high-educated employees and the intensity of price competition. Thus, the firms that reacted more intensively to the crisis are innovative and export-oriented, have a rather low productivity and are exposed strong price competition. Moreover, econometric analysis shows that firms that were stronger affected by the crisis reacted more actively to the crisis and have taken several different actions. What was the impact of these actions on firm economic performance in the period 2010–2012? Further econometric analysis shows that actions that are associated to a large extent with employment reduction and no change of sales contributed positively to labour employment development. Such actions are: focusing on core business, change of marketing strategy, rationalization of production lines, closing of plants or parts of plants, and reduction of costs in headquarters.