Exchange rates and firm survival: An examination with Turkish firm-level data

dc.authoridKaramollaoglu, Nazli/0000-0003-3897-4794
dc.authorwosidLibrary, MEF/O-1457-2019
dc.authorwosidkaramollaoglu, nazli/AAC-5213-2019
dc.authorwosidYazgan, Ege/GPG-1135-2022
dc.contributor.authorToraganli, Nazli
dc.contributor.authorYazgan, M. Ege
dc.date.accessioned2024-07-18T20:42:34Z
dc.date.available2024-07-18T20:42:34Z
dc.date.issued2016
dc.departmentİstanbul Bilgi Üniversitesien_US
dc.description.abstractMicro-level empirical research has begun to obtain important results on the effects of currency variations on firms' survival. The literature has, however, lacked a detailed analysis of the effects of exchange rates on firms' survival behavior in emerging markets due to a scarcity of firm-level information. Using a firm-level dataset, we investigate the impact of currency appreciation on the survival behavior of Turkish firms in the manufacturing industries for 2002-2009. Our results suggest that real exchange rate appreciation decreases the probability of survival in the manufacturing industries. We also find that high-productivity firms have a higher probability of survival than low productivity firms following an appreciation of the exchange rate. Our findings indicate that the negative effect of a 1% real appreciation of the domestic currency on the survival probability of a given firm ranges from 4.5 to 9%, providing evidence for the vulnerability of developing countries to exchange rate movements. This evidence indicates that, especially for emerging market economies, economic events and policies leading to an appreciation in the domestic currency should be managed cautiously. (C) 2016 Elsevier B.V. All rights reserved.en_US
dc.identifier.doi10.1016/j.ecosys.2015.09.009
dc.identifier.endpage443en_US
dc.identifier.issn0939-3625
dc.identifier.issn1878-5433
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-84973931751en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.startpage433en_US
dc.identifier.urihttps://doi.org/10.1016/j.ecosys.2015.09.009
dc.identifier.urihttps://hdl.handle.net/11411/7337
dc.identifier.volume40en_US
dc.identifier.wosWOS:000382804700008en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartofEconomic Systemsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectExchange Rateen_US
dc.subjectFirm-Levelen_US
dc.subjectExporten_US
dc.subjectEmerging Marketsen_US
dc.subjectSurvivalen_US
dc.subjectPass-Throughen_US
dc.subjectProductivityen_US
dc.subjectTradeen_US
dc.subjectExportsen_US
dc.subjectPerformanceen_US
dc.subjectShocksen_US
dc.subjectImpacten_US
dc.subjectExiten_US
dc.titleExchange rates and firm survival: An examination with Turkish firm-level dataen_US
dc.typeArticleen_US

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