A Socio-Economic Proposed Theoretical Framework for Responding to The Covid-19 Outbreak

Abstract

One of the significant impacts of the Covid-19 outbreak was the need for physical distancing. Physical distancing causes changes in the order of human life within a relatively short amount of time. Physical distancing also directly causes various socio-economic problems, especially for small-medium enterprise (SME) businesses. The background of this research is the absence of a theoretical framework related to the socio-economic impacts of the Covid-19 outbreak based on previous quantitative research publications. This research aims to develop a theoretical framework on the socio-economic constructs for response to a Covid-19. This research uses the literature review method. The research publication data used for the literature review comes from the Scopus database until May 1, 2020, with restrictions to only quantitative research publication documents. The publication of quantitative research as research data is only derived from the business subject and uses quantitative data processing tools based on structural equation modelling (SEM) variance and covariance. From the research results, a theoretical framework was developed on the role of socio-economic moderation on the effect of internal resources on organizational performance and the role of socio-economics as an antecedent of environmental behaviour. The proposed theoretical framework has the potential to be empirically tested in a future-related socio-economic response to a Covid-19 outbreak.