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@article{1541616, author = {Baumöhl, Eduard and Iwasaki, Ichiro and Kočenda, Evžen}, article_number = {October}, doi = {http://dx.doi.org/10.1016/j.jcorpfin.2019.05.008}, keywords = {Firm survival; Institutions; European emerging markets; Survival and exit determinants; Hazards model}, language = {eng}, issn = {0929-1199}, journal = {Journal of Corporate Finance}, title = {Institutions and determinants of firm survival in European emerging markets}, url = {https://www.sciencedirect.com/science/article/pii/S0929119918306497}, volume = {58}, year = {2019} }
TY - JOUR ID - 1541616 AU - Baumöhl, Eduard - Iwasaki, Ichiro - Kočenda, Evžen PY - 2019 TI - Institutions and determinants of firm survival in European emerging markets JF - Journal of Corporate Finance VL - 58 IS - October SP - 431-453 EP - 431-453 SN - 09291199 KW - Firm survival KW - Institutions KW - European emerging markets KW - Survival and exit determinants KW - Hazards model UR - https://www.sciencedirect.com/science/article/pii/S0929119918306497 L2 - https://www.sciencedirect.com/science/article/pii/S0929119918306497 N2 - 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. ER -
BAUMÖHL, Eduard, Ichiro IWASAKI and Evžen KOČENDA. Institutions and determinants of firm survival in European emerging markets. \textit{Journal of Corporate Finance}. 2019, vol.~58, October, p.~431-453. ISSN~0929-1199. Available from: https://dx.doi.org/10.1016/j.jcorpfin.2019.05.008.
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