10/RT/14 A long-run survival analysis of corporate liquidations in Ireland

Abstract

This paper examines the role of credit and the macroeconomy in SME distress during a prolonged economic downturn. Specifically, we estimate the determinants of SME distress in Ireland during the severe financial and economic crisis which began in 2007/2008. We use a measure of distress, insolvencies, which captures both bank and non-bank forms of credit. We conduct a survival analysis of insolvent liquidations and find that, controlling for firm location and economic activity, both variables capturing a build-up of stress in the macroeconomy and those capturing bank credit standards and availability throughout the cycle are determinants of firm survival. JEL classification: C25, D20, L0

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Cite this paper

@inproceedings{Kelly201410RT14AL, title={10/RT/14 A long-run survival analysis of corporate liquidations in Ireland}, author={Robert Kelly and Eoin O ’ Brien and Rebecca Stuart}, year={2014} }