Detailed Information on Publication Record
2019
Institutions and determinants of firm survival in European emerging markets
BAUMÖHL, Eduard, Ichiro IWASAKI and Evžen KOČENDABasic information
Original name
Institutions and determinants of firm survival in European emerging markets
Authors
BAUMÖHL, Eduard (703 Slovakia, guarantor, belonging to the institution), Ichiro IWASAKI and Evžen KOČENDA (203 Czech Republic)
Edition
Journal of Corporate Finance, 2019, 0929-1199
Other information
Language
English
Type of outcome
Článek v odborném periodiku
Field of Study
50206 Finance
Country of publisher
Netherlands
Confidentiality degree
není předmětem státního či obchodního tajemství
References:
Impact factor
Impact factor: 2.521
RIV identification code
RIV/00216224:14560/19:00109989
Organization unit
Faculty of Economics and Administration
UT WoS
000491217400022
Keywords in English
Firm survival; Institutions; European emerging markets; Survival and exit determinants; Hazards model
Tags
International impact, Reviewed
Změněno: 23/11/2023 10:35, Mgr. Pavlína Kurková
Abstract
V originále
We analyze the impact of institutional quality on firm survival in 15 European emerging markets. We employ the Cox proportional hazards model with a large dataset of firms during 2006–2015. Our results show that institutional quality (IQ) is a significant preventive factor for firm survival, and it displays diminishing returns as its effect is largest for low-level IQ countries and smallest for high-level IQ countries. In terms of specific indicators, the level of national governance and the extent of corruption control exhibit the key impacts. In terms of firm-specific controls, indicators of ownership structure and aggregate financial performance are the economically most significant factors associated with increased survival probability of firms in European emerging markets.