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The current study focuses on the relationship between total quality management (TQM) and sustainable performance (SP) and examines how TQM practices can facilitate firms' achievement of sustainable performance. Knowledge management (KM), with its four dimensions, i.e. knowledge creation (KCR), knowledge acquisition (KAC), knowledge sharing (KSH) and knowledge application (KAP), is also an essential factor for organizations. Therefore, this study also focuses on the mediating role of KM in the relationship between TQM and sustainable performance.

This study used a survey method to collect data from the managers of 485 manufacturing SMEs working in five major industrial cities in Pakistan. Collected data were analyzed through PLS-SEM with the help of smart-PLS.

The study's findings reveal that TQM practices positively influence the environmental and economic sustainability of the firm. At the same time, there is no evidence that TQM practices positively affect the social sustainability of the firm. Results further elaborate that TQM practices significantly affect all four dimensions of KM. Moreover, KM positively affects the two dimensions of SP, i.e. economic and social sustainability, but surprisingly, the impact of KM on environmental sustainability is not found. Finally, results indicate the significant mediating role of KM between TQM and SP.

This study contributes to bridging research gaps in the literature and advances how TQM, directly and indirectly, helps firms improve sustainable performance via the mediating role of KM.

The objective of this study is to investigate how the coronavirus disease 2019 (COVID-19) pandemic affects firms' financial management in China's manufacturing sector. In addition, the authors analyze the changes in various financial indicators before and during the COVID-19 pandemic. Further, the authors make a cross-country comparison of the COVID-19's impact on financial management between China and Romania.

The study uses the balanced panel data of 2,272 manufacturing listed companies from 2019 to 2020, and applies the t-test method and multiple regression method.

The results show that firms' financial performance in most manufacturing sub-sectors decreased during the observed period. In addition, the authors find that equity financing, proper liquidity management and an expanded firm scale can improve firms' financial performance. The authors further compare the results with the Romanian results, and find that the negative impact of debt-to-equity ratio on firms' financial performance in Romania is greater than that in China and the positive impact of financial autonomy ratio and working capital ratios is greater in China than that in Romania.

The findings can help corporate managers make the best financial management decision in response to crisis.

This study is one of the pioneers that analyze how manufacturing companies carried out their financial management during the COVID-19 crisis in the Chinese context, and provides a cross-country analysis of corporate financial management practices in China and Romania.