Analyzing the Impact of Leverage Rate on Export Survival: The Case of Iranian Firms

Zahra Mojdeh (), Amir Mansour Tehranchian (), Ahmad Jafari Samimi () and Saeed Rasekhi ()
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Zahra Mojdeh : Department of Economics, Mazandaran University
Amir Mansour Tehranchian : Department of Economics, Mazandaran University
Ahmad Jafari Samimi : Department of Economics, Mazandaran University
Saeed Rasekhi : Department of Economics, Mazandaran University

Journal of Money and Economy, 2020, vol. 15, issue 1, 25-34

Abstract: One of the goals of the government is to increase the competitiveness of domestic firms to export goods and services. Moreover, the role of exports in many economic sectors has been emphasized. There are two essential requirements for developing non-oil exports: first, the presence of firms in export markets and increasing their competitiveness; second, the survival of them in international markets. This paper assesses the impact of leverage on export survival by using the data of 16 Iranian manufacturing firms from 1999-2018. These companies operate in the agricultural and food industry and are indexed in the stock exchange market. Based on Cox semi-parametric model estimation, the main result is that leverage harms export survival.

Keywords: Export survival; Leverage; Firm Heterogeneity; Cox Semi-Parametric Model (search for similar items in EconPapers)
JEL-codes: F12 G30 G33 (search for similar items in EconPapers)
Date: 2020
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