The Impact of Storms on Firm Survival: A Bayesian Spatial Econometric Model for Firm Survival

Mihaela Craioveanu and Dek Terrell

A chapter in Spatial Econometrics: Qualitative and Limited Dependent Variables, 2016, vol. 37, pp 81-118 from Emerald Publishing Ltd

Abstract: Abstract This paper investigates the impact of the storms Katrina and Rita on firm survival in the Orleans Parish. In particular, a Bayesian spatial probit model is used to assess the impact of a number of firm characteristics on firm survival. The results reveal that larger firms and those with less flooding are more likely to survive. Larger chain stores were less likely to return to the city than sole proprietorships. Spatial results also reveal a very strong spatial component to firm survival just after the storm which diminishes as time passed.

Keywords: Spatial probit; firm survival; hurricane seem appropriate; L25; C11 (search for similar items in EconPapers)
Date: 2016
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