LAUSR

Summary Since the onset of the COVID‐19 pandemic, global virtual teams (GVTs) have become increasingly important. Drawing on conservation of resources theory and self‐regulation theory, we examined the mechanism and process underlying individuals' performance in GVTs in this specific situation. We posit that the local severity of the pandemic has a negative effect on individuals' performance in GVTs and that self‐regulation functions as a coping mechanism in times of pandemic‐related ambient stress, reducing its negative effect on performance. We suggest that three cultural value orientations, that is, uncertainty avoidance, collectivism, and long‐term orientation, explain different levels of self‐regulation, which in turn moderates the relationship between the local severity of the pandemic and individual performance in GVTs. Based on a sample of 2727 individuals from 31 countries participating in an international business consulting project during the early stage of the unfolding pandemic, we show that (a) the local severity of the pandemic had a negative effect on individuals' performance, (b) the negative effect of the pandemic on performance is weaker for individuals with high self‐regulation, and (c) uncertainty avoidance and long‐term orientation are positively associated with self‐regulation, which mediates the moderating relationship between the cultural value orientations and the relationship between the COVID‐19 pandemic and individual performance in GVTs.