Publication detail

How Firms Survive in European Emerging Markets: A Survey

Author(s): prof. Ing. Evžen Kočenda Ph.D., DSc., Eduard Baumohl
Type: IES Working Papers
Year: 2022
Number: 16
Published in: IES Working Papers 16/2022
Publishing place: Prague
Keywords: firm survival, institutions, financial development, European emerging markets, survival and exit determinants, hazards model
JEL codes: D22, G01, G33, G34, P34
Suggested Citation: Baumöhl E. and Kočenda E. (2022): "How Firms Survive in European Emerging Markets: A Survey" IES Working Papers 16/2022. IES FSV. Charles University.
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.
Downloadable: wp_2022_16_baumohl, kocenda


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