Arbeitspapier

Export Market Exit, Financial Pressure and the Crisis

Using firm-level data for the UK, we investigate the link between firms' financial health, borrowing ratio and export exit, paying special attention to the recent financial crisis. Our results show that deterioration in the financial position of firms has increased the hazard of export exit during the crisis. We also find that the sensitivity of export exit to changes in firms' financial condition is higher during the crisis for those firms which face increases in loan spreads associated with the firm-specific interest rate.

Language
Englisch

Bibliographic citation
Series: CESifo Working Paper ; No. 4363

Classification
Wirtschaft
Trade: General
Firm Objectives, Organization, and Behavior: General
Corporate Finance and Governance: General
Subject
financial pressure
firm exit
financial health
exports

Event
Geistige Schöpfung
(who)
Görg, Holger
Spaliara, Marina-Eliza
Event
Veröffentlichung
(who)
Center for Economic Studies and ifo Institute (CESifo)
(where)
Munich
(when)
2013

Handle
Last update
01.04.4026, 1:43 AM CEST

Data provider

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Object type

  • Arbeitspapier

Associated

  • Görg, Holger
  • Spaliara, Marina-Eliza
  • Center for Economic Studies and ifo Institute (CESifo)

Time of origin

  • 2013

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