Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265202 
Year of Publication: 
2022
Series/Report no.: 
IES Working Paper No. 16/2022
Publisher: 
Charles University in Prague, Institute of Economic Studies (IES), Prague
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.
Subjects: 
firm survival
institutions
financial development
European emerging markets
survival and exit determinants
hazards model
JEL: 
D22
G01
G33
G34
P34
Document Type: 
Working Paper

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