Badly hurt? Natural disasters and direct firm effects

Felix Noth and Oliver Rehbein

No 25/2017, IWH Discussion Papers from Halle Institute for Economic Research (IWH)

Abstract: We investigate firm outcomes after a major flood in Germany in 2013. We robustly find that firms located in the disaster regions have significantly higher turnover, lower leverage, and higher cash in the period after 2013. We provide evidence that the effects stem from firms that already experienced a similar major disaster in 2002. Overall, our results document a positive net effect on firm performance in the direct aftermath of a natural disaster.

Keywords: natural disasters; firm outcomes (search for similar items in EconPapers)
JEL-codes: G21 Q54 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-bec, nep-env and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:iwhdps:252017

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