Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76140
Authors: 
Buehler, Stefan
Kaiser, Christian
Jaeger, Franz
Year of Publication: 
2007
Series/Report no.: 
Working Paper, Socioeconomic Institute, University of Zurich 0701
Abstract: 
This paper examines the role of geography and culture in explaining bankruptcy. We adopt survival analyses to model the bankruptcy risk of a firm, allowing for time-varying covariates. Based on a large sample from all major sectors of the Swiss economy, we find the following results: (i) The geographic location of a firm, which is characterized using a core-periphery approach, has a significant impact on its bankruptcy risk; (ii) Variables proxying for the cultural environment of a firm have significant explanatory power; (iii) The results of the previous literature on the standard determinants of bankruptcy are confirmed.
Subjects: 
bankruptcy
geography
culture
exit
JEL: 
C41
R10
Z10
Document Type: 
Working Paper

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