Kiel Working Papers, Kiel Institute for World Economics
No 1859:
Export market exit, financial pressure and the crisis
Holger Görg and Marina-Eliza Spaliara
Abstract: Using firm-level data for the UK, we investigate the link
between firms’ financial health, borrowing ratio and export exit, paying
special attention to the recent financial crisis. Our results show that
deterioration in the financial position of firms has increased the hazard
of export exit during the crisis. We also find that the sensitivity of
export exit to changes in firms’ financial condition is higher during the
crisis for those firms which face increases in loan spreads associated with
the firm-specific interest rate
Keywords: financial pressure, firm exit, financial health, exports; (follow links to similar papers)
JEL-Codes: F1,; L2,; G3; (follow links to similar papers)
31 pages, August 2013
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