Utilize este identificador para referenciar este registo:
https://hdl.handle.net/10316/104760
Título: | Recovery and exit of zombie firms in Portugal | Autor: | Carreira, Carlos Teixeira, Paulino Nieto-Carrillo, Ernesto |
Palavras-chave: | Zombie firms; exit; recovery; restructuring; downsizing | Data: | Ago-2022 | Editora: | Springer | Projeto: | Project ENtRY (PTDC/EGE-ECO/31117/2017) UIDB/05037/2020 |
Título da revista, periódico, livro ou evento: | Small Business Economics | Volume: | 2 | Número: | 59 | Resumo: | The resources sunk in zombie firms have risen over the last two decades, hampering productivity growth in developed economies. In this paper, we examine the recovery and exit of zombie firms among small- and medium-sized enterprises (SME), as well as the determinants of these transitions. To our knowledge, this is the first study on the determinants of the probability of a zombie recovering or exiting in a European context. The study also contributes to the discussion of the definition of zombie firms. Based on a panel of Portuguese manufacturing and services firms covering the 2004–2017 period, we do find a widespread presence of zombies. As expected, they are relatively less productive than non-zombies, while the probability of transition into recovery and exit is relatively low, which we interpret as evidence in favour of the presence of high barriers to firm mobility. In turn, the regression results show that downsizing and restructuring, as well as debt restructuring, are crucial in enhancing recovery of zombie firms. These are non-trivial results from the perspective of managers and policy makers. We performed several exercises using alternative definitions of zombie firms and estimation techniques and found that our findings are robust. | URI: | https://hdl.handle.net/10316/104760 | ISSN: | 0921-898X | DOI: | 10.1007/s11187-021-00483-8 | Direitos: | openAccess |
Aparece nas coleções: | I&D CeBER - Artigos em Revistas Internacionais |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
---|---|---|---|---|
s11187-021-00483-8.pdf | 1.4 MB | Adobe PDF | Ver/Abrir |
Citações WEB OF SCIENCETM
18
Visto em 2/mai/2024
Visualizações de página
54
Visto em 7/mai/2024
Downloads
47
Visto em 7/mai/2024
Google ScholarTM
Verificar
Altmetric
Altmetric
Este registo está protegido por Licença Creative Commons