What matters for corporate failures in Asia? Exploring the role of firm-specific characteristics during the Asian crisis
作者： Marina-Eliza Spaliara , Serafeim Tsoukas
DOI: 10.1016/J.STRUECO.2012.12.002
关键词: Economy 、 Financial system 、 Stock exchange 、 Business
摘要: Abstract Empirical investigation of business failures has considered the effects macroeconomic conditions and financial healthiness in isolation. Using a panel five Asian economies – Indonesia, Korea, Malaysia, Singapore Thailand over period 1995–2007 we analyse link between firm survival during 1997–1998 crisis. We show that sensitivity to indicators is significantly higher crisis compared tranquil periods. In addition, find effect quantitatively qualitatively more important with less developed stock exchanges.
core.ac.uk
elsevier.com
sci-hub.se 参考文章(42)
Maria Luísa Alcoforado Farinha, João A. C. Santos, The Survival of Start-Ups: Do Their Funding Choices and Bank Relationships at Birth Matter? Social Science Research Network. ,(2006) , 10.2139/SSRN.950978
Spiros Bougheas, Paul Mizen, Cihan Yalcin, Access to External Finance: Theory and Evidence on the Impact of Firm-Specific Characteristics Research Papers in Economics. ,(2004)
Philip Bunn, Victoria Redwood, Company Accounts-Based Modelling of Business Failures and the Implications for Financial Stability Social Science Research Network. ,(2003) , 10.2139/SSRN.598276
Georgios Fotopoulos, Helen Louri, Determinants of Hazard Confronting New Entry: Does Financial Structure Matter? * Review of Industrial Organization. ,vol. 17, pp. 285- 300 ,(2000) , 10.1023/A:1007862922531
David R. Cox, Regression Models and Life-Tables Springer Series in Statistics. ,vol. 34, pp. 527- 541 ,(1992) , 10.1007/978-1-4612-4380-9_37
Jen Baggs, Eugene Beaulieu, Loretta Fung, Firm survival, performance, and the exchange rate Canadian Journal of Economics. ,vol. 42, pp. 393- 421 ,(2009) , 10.1111/J.1540-5982.2009.01513.X
F. Bellone, P. Musso, L. Nesta, M. Quere, Market Selection Along the Firm Life Cycle Industrial and Corporate Change. ,vol. 17, pp. 753- 777 ,(2008) , 10.1093/ICC/DTN025
Mark A. Roberts, Can Pay‐as‐You‐Go Pensions Raise the Capital Stock? The Manchester School. ,vol. 71, pp. 1- 20 ,(2003) , 10.1111/1467-9957.71.S.1
Qing Gong Yang, Paul Temple, Reform and competitive selection in China: An analysis of firm exits Structural Change and Economic Dynamics. ,vol. 23, pp. 286- 299 ,(2012) , 10.1016/J.STRUECO.2012.04.004
P.A. Geroski, What do we know about entry International Journal of Industrial Organization. ,vol. 13, pp. 421- 440 ,(1995) , 10.1016/0167-7187(95)00498-X