Original title: Institutions, Financial Development, and Small Business Survival: Evidence from European Emerging Economies
Authors: Iwasaki, I. ; Kočenda, Evžen ; Shida, Y.
Document type: Research reports
Year: 2020
Language: eng
Series: IES Working Paper Series, volume: 2020/39
Abstract: In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and level of financial development exhibit statistically significant and economically meaningful impacts on the survival probability of the SMEs being researched. The evidence holds even when we control for a set of firm-level characteristics such as ownership structure, financial performance, firm size, and age. The findings are also uniform across industries and country groups and robust beyond the difference in assumption of hazard distribution.
Keywords: European emerging markets; small business; survival analysis

Institution: Institute of Information Theory and Automation AS ČR (web)
Document availability information: Fulltext is available at external website.
External URL: http://library.utia.cas.cz/separaty/2020/E/kocenda-0533385.pdf
Original record: http://hdl.handle.net/11104/0311792

Permalink: http://www.nusl.cz/ntk/nusl-432272


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