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Regional Quality and Impaired Firms: Evidence from Italy

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  • De Martiis, Angela
  • Fidrmuc, Jarko

Abstract

We analyze how regional quality affects firm’s efficiency by identifying the impaired firms receiving financial assistance as those paying an implicit interest rate lower than the prime rate. Then, we decompose them into: real impaired firms unable to repay their loans, and those not repaying their debts even if financially they could. The regions with a high share of loans and crime exhibit a higher concentration of distressed firms, and crime increases the performance of existing companies.

Suggested Citation

  • De Martiis, Angela & Fidrmuc, Jarko, 2017. "Regional Quality and Impaired Firms: Evidence from Italy," Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168234, Verein für Socialpolitik / German Economic Association.
  • Handle: RePEc:zbw:vfsc17:168234
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    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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