The survival of firms under changes in the business environment caused by exogenous shocks can be explained using economic Darwinism. Exogenous shocks can cause ‘cleansing effects’. Shocks clean out unproductive firms so that available resources are allocated to the remaining more productive...

The survival of firms under changes in the business environment caused by exogenous shocks may be explained using economic Darwinism. Exogenous shocks can cause "cleansing effects" as shocks clean out unproductive firms so that available resources are allocated to the remaining more productive...

The survival of firms under changes in the business environment caused by exogenous shocks may be explained using economic Darwinism. Exogenous shocks can cause ‘cleansing effects' as shocks clean out unproductive firms so that available resources are allocated to the remaining more productive...

We study the economic implications of regional favoritism, a form of distributive politics that redistributes resources spatially within countries. We use a large sample of enterprise surveys spanning across many low and middle income countries, and utilize transitions of national political...

We study the economic implications of regional favoritism, a form of distributive politics that redistributes resources geographically within countries. Using enterprise surveys from low- and middle-income countries, we document that firms located close to leaders' birthplaces grow substantially...

This paper provides evidence that the effect of agglomeration externalities on survival is moderated by the start-up's innovative behavior. It is shown that localization externalities are prevalent particularly in non-high-tech environments and unfold a positive influence on survival for less...

In recent decades, the European Union has experienced an increase in the frequency of climate-related natural disasters. While a large body of literature analyzing the impact of natural disasters on migration patterns in the U.S. and other areas has emerged, little research has been conducted...

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...