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The Impact of Storms on Firm Survival: A Bayesian Spatial Econometric Model for Firm Survival

In: Spatial Econometrics: Qualitative and Limited Dependent Variables

Author

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  • Mihaela Craioveanu
  • Dek Terrell

Abstract

This paper investigates the impact of the storms Katrina and Rita on firm survival in the Orleans Parish. In particular, a Bayesian spatial probit model is used to assess the impact of a number of firm characteristics on firm survival. The results reveal that larger firms and those with less flooding are more likely to survive. Larger chain stores were less likely to return to the city than sole proprietorships. Spatial results also reveal a very strong spatial component to firm survival just after the storm which diminishes as time passed.

Suggested Citation

  • Mihaela Craioveanu & Dek Terrell, 2016. "The Impact of Storms on Firm Survival: A Bayesian Spatial Econometric Model for Firm Survival," Advances in Econometrics, in: Spatial Econometrics: Qualitative and Limited Dependent Variables, volume 37, pages 81-118, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:aecozz:s0731-905320160000037010
    DOI: 10.1108/S0731-905320160000037010
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    Citations

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    Cited by:

    1. Toshihiro Okubo & Eric Strobl, 2021. "Natural disasters, firm survival, and growth: Evidence from the Ise Bay Typhoon, Japan," Journal of Regional Science, Wiley Blackwell, vol. 61(5), pages 944-970, November.
    2. Tetsuji Okazaki & Toshihiro Okubo & Eric Strobl, 2020. "The Bright and Dark Side of Financial Support from Local and Central Banks after a Natural Disaster: Evidence from the Great Kanto Earthquake, 1923 Japan," Keio-IES Discussion Paper Series 2020-001, Institute for Economics Studies, Keio University.
    3. Mathews, Shilpita & Surminski, Swenja & Roezer, Viktor, 2021. "The risk of corporate lock-in to future physical climate risks: the case of flood risk in England and Wales," LSE Research Online Documents on Economics 112801, London School of Economics and Political Science, LSE Library.
    4. Mathews, Shilpita & Surminski, Swenja & Roezer, Viktor, 2021. "The risk of corporate lock-in to future physical climate risks: the case of flood risk in England and Wales," LSE Research Online Documents on Economics 112807, London School of Economics and Political Science, LSE Library.
    5. Marcel Bednarz & Tom Broekel, 2020. "Pulled or pushed? The spatial diffusion of wind energy between local demand and supply," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(4), pages 893-916.
    6. Elliott, Robert J.R. & Liu, Yi & Strobl, Eric & Tong, Meng, 2019. "Estimating the direct and indirect impact of typhoons on plant performance: Evidence from Chinese manufacturers," Journal of Environmental Economics and Management, Elsevier, vol. 98(C).

    More about this item

    Keywords

    Spatial probit; firm survival; hurricane seem appropriate; L25; C11;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General

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