Spring Forward or Fall Back? :: the Post-Crisis Recovery of Firms /
This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that pre-crisis le...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/292. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that pre-crisis leverage and short-term debt have had negative effects on the speed of the recovery, while asset tangibility has had positive effects. The negative effect of leverage is non-linear, being particularly strong in firms with high pre-crisis leverage. Furthermore, the effects are different for advanced and emerging market economies. The paper also shows that the macroeconomic framework critically matters for firm growth. In particular, in countries that have allowed the exchange rate to depreciate, firms have had a faster recovery in sectors highly dependent on trade. |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed December 18, 2012). "Middle East and Central Asia Department." "December 2012." |
| Beschreibung: | 1 online resource (31 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 9781616354985 1616354984 1475515405 9781475515404 1475524730 9781475524734 1589061748 9781589061743 |
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| 245 | 1 | 0 | |a Spring Forward or Fall Back? : |b the Post-Crisis Recovery of Firms / |c prepared by Leandro Medina. |
| 246 | 3 | 0 | |a Post-crisis recovery of firms |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
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| 490 | 1 | |a IMF working paper ; |v WP/12/292 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed December 18, 2012). | ||
| 520 | |a This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that pre-crisis leverage and short-term debt have had negative effects on the speed of the recovery, while asset tangibility has had positive effects. The negative effect of leverage is non-linear, being particularly strong in firms with high pre-crisis leverage. Furthermore, the effects are different for advanced and emerging market economies. The paper also shows that the macroeconomic framework critically matters for firm growth. In particular, in countries that have allowed the exchange rate to depreciate, firms have had a faster recovery in sectors highly dependent on trade. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Middle East and Central Asia Department." | ||
| 500 | |a "December 2012." | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Empirical Strategy; A. Explanatory Variables; III. Data Description; IV. Descriptive Statistics; V. Empirical Findings; A. Nonlinear Effects of Leverage; B. Robustness Tests: Trade Sensitivity and Real Depreciation Effects; VI. Conclusion; References; Tables; 1. Country and Region Coverage; 2. Sample Coverage; 3. Summary Statistics; 4. Baseline Regression: All Countries; 5. Baseline Regression: Emerging Economies; 6. Baseline Regression: Advanced Economies; 7. Nonlinear Effects of Leverage; 8. Depreciation and Trade Effects; Figures. | |
| 505 | 8 | |a 1. Density Distribution of Corporate Performance: 2007, 2009, and 20102. Density Distribution of Corporate Performance by Levels of Leverage: 2010; 3. Corporate Performance: 2007-2010; Appendix: Data Sources and Definitions of Variables. | |
| 546 | |a English. | ||
| 650 | 0 | |a Manufacturing industries |z Developed countries. | |
| 650 | 0 | |a Manufacturing industries |z Developing countries. | |
| 650 | 0 | |a Global Financial Crisis, 2008-2009. |0 http://id.loc.gov/authorities/subjects/sh2009003683 | |
| 650 | 6 | |a Industrie manufacturière |z Pays industrialisés. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Industrial Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Management Science. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Organizational Behavior. |2 bisacsh | |
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| 710 | 2 | |a International Monetary Fund. |b Middle East and Central Asia Department. |0 http://id.loc.gov/authorities/names/no2004029012 | |
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| author | Medina, Leandro, 1978- |
| author_GND | http://id.loc.gov/authorities/names/no2010040082 |
| author_corporate | International Monetary Fund. Middle East and Central Asia Department |
| author_corporate_role | |
| author_facet | Medina, Leandro, 1978- International Monetary Fund. Middle East and Central Asia Department |
| author_role | |
| author_sort | Medina, Leandro, 1978- |
| author_variant | l m lm |
| building | Verbundindex |
| bvnumber | localFWS |
| callnumber-first | H - Social Science |
| callnumber-label | HG3881 |
| callnumber-raw | HG3881.5.I58 W67 No. 12/292eb |
| callnumber-search | HG3881.5.I58 W67 No. 12/292eb |
| callnumber-sort | HG 43881.5 I58 W67 NO 212 3292EB |
| callnumber-subject | HG - Finance |
| collection | ZDB-4-EBU |
| contents | Cover; Contents; I. Introduction; II. Empirical Strategy; A. Explanatory Variables; III. Data Description; IV. Descriptive Statistics; V. Empirical Findings; A. Nonlinear Effects of Leverage; B. Robustness Tests: Trade Sensitivity and Real Depreciation Effects; VI. Conclusion; References; Tables; 1. Country and Region Coverage; 2. Sample Coverage; 3. Summary Statistics; 4. Baseline Regression: All Countries; 5. Baseline Regression: Emerging Economies; 6. Baseline Regression: Advanced Economies; 7. Nonlinear Effects of Leverage; 8. Depreciation and Trade Effects; Figures. 1. Density Distribution of Corporate Performance: 2007, 2009, and 20102. Density Distribution of Corporate Performance by Levels of Leverage: 2010; 3. Corporate Performance: 2007-2010; Appendix: Data Sources and Definitions of Variables. |
| ctrlnum | (OCoLC)821931528 |
| dewey-full | 658.5 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.5 |
| dewey-search | 658.5 |
| dewey-sort | 3658.5 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| era | 2008-2009 fast |
| era_facet | 2008-2009 |
| format | Electronic eBook |
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| geographic | Developed countries fast Developing countries fast |
| geographic_facet | Developed countries Developing countries |
| id | ZDB-4-EBU-ocn821931528 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:07Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/no2004029012 |
| isbn | 9781616354985 1616354984 1475515405 9781475515404 1475524730 9781475524734 1589061748 9781589061743 |
| language | English |
| oclc_num | 821931528 |
| open_access_boolean | |
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| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (31 pages) |
| psigel | ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Medina, Leandro, 1978- https://id.oclc.org/worldcat/entity/E39PCjrrcHj4kgmhDvhTQHmPQq http://id.loc.gov/authorities/names/no2010040082 Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / prepared by Leandro Medina. Post-crisis recovery of firms [Washington, D.C.] : International Monetary Fund, ©2012. 1 online resource (31 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file Bibliography IMF working paper ; WP/12/292 Title from PDF title page (IMF Web site, viewed December 18, 2012). This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that pre-crisis leverage and short-term debt have had negative effects on the speed of the recovery, while asset tangibility has had positive effects. The negative effect of leverage is non-linear, being particularly strong in firms with high pre-crisis leverage. Furthermore, the effects are different for advanced and emerging market economies. The paper also shows that the macroeconomic framework critically matters for firm growth. In particular, in countries that have allowed the exchange rate to depreciate, firms have had a faster recovery in sectors highly dependent on trade. Includes bibliographical references. "Middle East and Central Asia Department." "December 2012." Cover; Contents; I. Introduction; II. Empirical Strategy; A. Explanatory Variables; III. Data Description; IV. Descriptive Statistics; V. Empirical Findings; A. Nonlinear Effects of Leverage; B. Robustness Tests: Trade Sensitivity and Real Depreciation Effects; VI. Conclusion; References; Tables; 1. Country and Region Coverage; 2. Sample Coverage; 3. Summary Statistics; 4. Baseline Regression: All Countries; 5. Baseline Regression: Emerging Economies; 6. Baseline Regression: Advanced Economies; 7. Nonlinear Effects of Leverage; 8. Depreciation and Trade Effects; Figures. 1. Density Distribution of Corporate Performance: 2007, 2009, and 20102. Density Distribution of Corporate Performance by Levels of Leverage: 2010; 3. Corporate Performance: 2007-2010; Appendix: Data Sources and Definitions of Variables. English. Manufacturing industries Developed countries. Manufacturing industries Developing countries. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Industrie manufacturière Pays industrialisés. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Manufacturing industries fast Developed countries fast Developing countries fast Global Financial Crisis (2008-2009) fast https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm (OCoLC)fst01755654 2008-2009 fast International Monetary Fund. Middle East and Central Asia Department. http://id.loc.gov/authorities/names/no2004029012 has work: Spring Forward or Fall Back? (Text) https://id.oclc.org/worldcat/entity/E39PCGbRdcmQMYVc9VfRG93cKd https://id.oclc.org/worldcat/ontology/hasWork 1-61635-498-4 1-4755-2473-0 IMF working paper ; WP/12/292. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=536793 Volltext |
| spellingShingle | Medina, Leandro, 1978- Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / IMF working paper ; Cover; Contents; I. Introduction; II. Empirical Strategy; A. Explanatory Variables; III. Data Description; IV. Descriptive Statistics; V. Empirical Findings; A. Nonlinear Effects of Leverage; B. Robustness Tests: Trade Sensitivity and Real Depreciation Effects; VI. Conclusion; References; Tables; 1. Country and Region Coverage; 2. Sample Coverage; 3. Summary Statistics; 4. Baseline Regression: All Countries; 5. Baseline Regression: Emerging Economies; 6. Baseline Regression: Advanced Economies; 7. Nonlinear Effects of Leverage; 8. Depreciation and Trade Effects; Figures. 1. Density Distribution of Corporate Performance: 2007, 2009, and 20102. Density Distribution of Corporate Performance by Levels of Leverage: 2010; 3. Corporate Performance: 2007-2010; Appendix: Data Sources and Definitions of Variables. Manufacturing industries Developed countries. Manufacturing industries Developing countries. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Industrie manufacturière Pays industrialisés. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Manufacturing industries fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh2009003683 (OCoLC)fst01755654 |
| title | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / |
| title_alt | Post-crisis recovery of firms |
| title_auth | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / |
| title_exact_search | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / |
| title_full | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / prepared by Leandro Medina. |
| title_fullStr | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / prepared by Leandro Medina. |
| title_full_unstemmed | Spring Forward or Fall Back? : the Post-Crisis Recovery of Firms / prepared by Leandro Medina. |
| title_short | Spring Forward or Fall Back? : |
| title_sort | spring forward or fall back the post crisis recovery of firms |
| title_sub | the Post-Crisis Recovery of Firms / |
| topic | Manufacturing industries Developed countries. Manufacturing industries Developing countries. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Industrie manufacturière Pays industrialisés. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Manufacturing industries fast |
| topic_facet | Manufacturing industries Developed countries. Manufacturing industries Developing countries. Global Financial Crisis, 2008-2009. Industrie manufacturière Pays industrialisés. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Industrial Management. BUSINESS & ECONOMICS Management. BUSINESS & ECONOMICS Management Science. BUSINESS & ECONOMICS Organizational Behavior. Manufacturing industries Developed countries Developing countries |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=536793 |
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