Badly hurt? Natural disasters and direct firm effects

We investigate firm outcomes after a major flood in Germany in 2013. We robustly find that firms located in the disaster regions have significantly higher turnover, lower leverage, and higher cash in the period after 2013. We provide evidence that the effects stem from firms that already experienced a similar major disaster in 2002. Overall, our results document a positive net effect on firm performance in the direct aftermath of a natural disaster.

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Year of publication:	2017
Authors:	Noth, Felix ; Rehbein, Oliver
Publisher:	Halle (Saale) : Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
Subject:	natural disasters \| firm outcomes

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Series:	IWH Discussion Papers ; 25/2017
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1009644238 [GVK] hdl:10419/172483 [Handle] RePEc:zbw:iwhdps:252017 [RePEc]
Classification:	G21 - Banks; Other Depository Institutions; Mortgages ; Q54 - Climate; Natural Disasters
Source:	EconStor

Persistent link: https://www.econbiz.de/10011765123