| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20254 |
| 来源ID | Working Paper 20254 |
| The Agglomeration of Bankruptcy | |
| Efraim Benmelech; Nittai Bergman; Anna Milanez; Vladimir Mukharlyamov | |
| 发表日期 | 2014-06-26 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper identifies a new channel through which bankrupt firms impose negative externalities on non-bankrupt peers. The bankruptcy and liquidation of a retail chain weakens the economies of agglomeration in any given local area, reducing the attractiveness of retail centers for remaining stores leading to contagion of financial distress. We find that companies with greater geographic exposure to bankrupt retailers are more likely to close stores in affected areas. We further show that the effect of these externalities on non-bankrupt peers is higher when the affected stores are smaller and are operated by firms with poor financial health. |
| 主题 | Financial Economics ; Corporate Finance ; Regional and Urban Economics ; Regional Economics ; Real Estate |
| URL | https://www.nber.org/papers/w20254 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577927 |
| 推荐引用方式 GB/T 7714 | Efraim Benmelech,Nittai Bergman,Anna Milanez,et al. The Agglomeration of Bankruptcy. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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