Arbeitspapier
Institutions, Financial Development, and Small Business Survival: Evidence from European Emerging Markets
In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of financial development exhibit statistically significant and economically meaningful impacts on the survival probability of the SMEs being researched. The evidence holds even when we control for a set of firm-level characteristics such as ownership structure, financial performance, firm size, and age. The findings are also uniform across industries and country groups and robust beyond the difference in assumption of hazard distribution, firm size, region, and time period.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 8641
- Klassifikation
-
Wirtschaft
Semiparametric and Nonparametric Methods: General
Institutions: Design, Formation, Operations, and Impact
Firm Behavior: Empirical Analysis
Bankruptcy; Liquidation
Business Economics
- Thema
-
small business
institutions
financial development
survival analysis
European emerging markets
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Iwasaki, Ichiro
Kocenda, Evžen
Shida, Yoshisada
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Iwasaki, Ichiro
- Kocenda, Evžen
- Shida, Yoshisada
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2020
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