Export market exit and financial health in crises periods

Görg, H. and Spaliara, M.-E. (2018) Export market exit and financial health in crises periods. Journal of Banking and Finance, 87, pp. 150-163. (doi:10.1016/j.jbankfin.2017.08.004)

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Abstract

This paper uses rich firm-level data for the UK to investigate the link between firms' financial health and export exit, paying attention to the ERM currency crisis and the global financial crisis. Our results show that deterioration in the financial position of firms has increased the hazard of export exit during the 2007-09 crisis but has no significant effect on the early 1990s crisis. We also explore the extent to which firms in financially vulnerable industries face greater sensitivity of export exit to financial conditions. We conclude that firms in sectors with great reliance on external finance experience higher hazards of exiting the export market during the 2007-09 crisis.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Spaliara, Dr Marina Eliza
Authors: Görg, H., and Spaliara, M.-E.
Subjects:H Social Sciences > HG Finance
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Journal of Banking and Finance
Publisher:Elsevier
ISSN:0378-4266
ISSN (Online):1872-6372
Published Online:25 September 2017
Copyright Holders:Copyright © 2017 Elsevier B.V.
First Published:First published in Journal of Banking and Finance 87: 150-163
Publisher Policy:Reproduced in accordance with the publisher copyright policy

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