Institutions and determinants of firm survival in European emerging markets

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F19%3A10395423" target="_blank" >RIV/00216208:11230/19:10395423 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216224:14560/19:00109989

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=jY4ztHMKBR" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=jY4ztHMKBR</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jcorpfin.2019.05.008" target="_blank" >10.1016/j.jcorpfin.2019.05.008</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Institutions and determinants of firm survival in European emerging markets

Popis výsledku v původním jazyce

We analyze the impact of institutional quality on firm survival in 15 European emerging markets. We employ the Cox proportional hazards model with a large dataset of firms during 2006-2015. Our results show that institutional quality (IQ) is a significant preventive factor for firm survival, and it displays diminishing returns as its effect is largest for low-level IQ countries and smallest for high-level IQ countries. In terms of specific indicators, the level of national governance and the extent of corruption control exhibit the key impacts. In terms of firm-specific controls, indicators of ownership structure and aggregate financial performance are the economically most significant factors associated with increased survival probability of firms in European emerging markets.

Název v anglickém jazyce

Institutions and determinants of firm survival in European emerging markets

Popis výsledku anglicky

We analyze the impact of institutional quality on firm survival in 15 European emerging markets. We employ the Cox proportional hazards model with a large dataset of firms during 2006-2015. Our results show that institutional quality (IQ) is a significant preventive factor for firm survival, and it displays diminishing returns as its effect is largest for low-level IQ countries and smallest for high-level IQ countries. In terms of specific indicators, the level of national governance and the extent of corruption control exhibit the key impacts. In terms of firm-specific controls, indicators of ownership structure and aggregate financial performance are the economically most significant factors associated with increased survival probability of firms in European emerging markets.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Corporate Finance

ISSN

0929-1199

e-ISSN

—

Svazek periodika

58

Číslo periodika v rámci svazku

October

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

23

Strana od-do

431-453

Kód UT WoS článku

000491217400022

EID výsledku v databázi Scopus

2-s2.0-85068478976