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Productive disasters? Evidence from European firm level data

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Author Info

  • Andrea M. Leiter

    ()

  • Harald Oberhofer

    ()

  • Paul A. Raschky

    ()

Abstract

This paper examines the impact of floods on firms' capital accumulation, employment growth and productivity by using a difference-in-difference approach and considering firms' asset structure. We find evidence that companies in flooding regions show higher growth of total assets and employment than firms in areas which did not face a flooding. This positive effect is even more pronounced for companies with larger shares of intangible assets. Regarding the firms' productivity a significantly negative flood effect is observable which declines with increasing share of intangible assets.

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File URL: http://eeecon.uibk.ac.at/wopec2/repec/inn/wpaper/2007-25.pdf
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Bibliographic Info

Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2007-25.

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Length: 29
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Handle: RePEc:inn:wpaper:2007-25

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Related research

Keywords: Natural Disasters; Firm Growth; Gibrat's Law; Productivity; Difference-in-Differences;

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Cited by:
  1. Andrea M. Leiter & Gerald J. Pruckner, . "Proportionality of willingness to pay to small changes in risk - The impact of attitudinal factors in scope tests," Working Papers 2007-30, Faculty of Economics and Statistics, University of Innsbruck.
  2. Jesus Crespo Cuaresma & Andreas Breitenfellner, . "Crude Oil Prices and the Euro-Dollar Exchange Rate: A Forecasting Exercise," Working Papers 2008-08, Faculty of Economics and Statistics, University of Innsbruck.
  3. Harald Oberhofer & Michael Pfaffermayr, . "FDI versus Exports. Substitutes or Complements? A Three Nation Model and Empirical Evidence," Working Papers 2007-28, Faculty of Economics and Statistics, University of Innsbruck.

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