A long-run survival analysis of corporate liquidations in Ireland

Robert Kelly, Eoin O'Brien and Rebecca Stuart
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Eoin O'Brien: Central Bank of Ireland

No 10/RT/14, Research Technical Papers from Central Bank of Ireland

Abstract: This paper examines the role of credit and the macroeconomy in SME distress during a pro- longed economic downturn. Specifically, we estimate the determinants of SME distress in Ireland during the severe financial and economic crisis which began in 2007/2008. We use a measure of dis- tress, insolvencies, which captures both bank and non-bank forms of credit. We conduct a survival analysis of insolvent liquidations and find that, controlling for firm location and economic activity, both variables capturing a build-up of stress in the macroeconomy and those capturing bank credit standards and availability throughout the cycle are determinants of firm survival.

Keywords: Ireland; corporate liquidations; firm default; survival analysis. (search for similar items in EconPapers)
JEL-codes: C25 D20 L0 (search for similar items in EconPapers)
Date: 2014-09
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: A long-run survival analysis of corporate liquidations in Ireland (2015)
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