How Firms Survive in European Emerging Markets: A Survey

Eduard Baumohl and Evžen Kočenda

No 2022/16, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: We survey the empirical evidence on corporate survival and its determinants in European emerging markets. We demonstrate that (i) institutional quality is a significant preventive factor for firm survival in all sectors of the economy, which holds for small, medium and large firms alike. On the other hand, (ii) the impact of financial performance indicators is lower than one would expect. However, (iii) other firm-level variables play more important roles in firm survival, and the most important preventive factors are the legal form of a limited liability company, the number of large shareholders, and the presence of a foreign owner.

Keywords: firm survival; institutions; financial development; European emerging markets; survival and exit determinants; hazards model (search for similar items in EconPapers)
JEL-codes: D22 G01 G33 G34 P34 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2022-07, Revised 2022-07
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-ent, nep-fdg, nep-ind and nep-sbm
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Citations: View citations in EconPapers (1)

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Journal Article: How Firms Survive in European Emerging Markets: A Survey (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:fau:wpaper:wp2022_16

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