 The impact of hydrogeological events on firms: Evidence from ItalyStefano Clò, Francesco David and Samuele Segoni Journal of Environmental Economics and Management, 2024, vol. 124, issue C Abstract: Using a novel dataset of natural disasters affecting Italy from 2010 onward, we investigate the impact of hundreds of hydrogeological events on firms’ survival and performance. Despite being less extreme, these events are increasingly frequent and geographically widespread, this constituting a relevant but unexplored topic in the natural disasters literature. In order to assess the impact of multiple events occurred over several years, we implement a staggered difference-in-differences design that exploits the variation in the timing of the treatment. Our results show that hit firms have a 7.3% higher probability of exiting the market. Conditional on surviving, in the three years after the calamity, firms experience an average decline in their revenues and employment by −4.9% and −2.2%, respectively. These impacts are highest for micro-small, younger and low-tech firms. Keywords: Climate change; Natural disasters; Floods; Landslide; Firm performance; Survival analysis; Staggered diff-in-diff; Multiple treatments (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:124:y:2024:i:c:s0095069624000160 DOI: 10.1016/j.jeem.2024.102942 Access Statistics for this article Journal of Environmental Economics and Management is currently edited by M.A. Cole, A. Lange, D.J. Phaneuf, D. Popp, M.J. Roberts, M.D. Smith, C. Timmins, Q. Weninger and A.J. Yates More articles in Journal of Environmental Economics and Management from Elsevier |
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