Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial Crisis
October 31, 2012
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Summary
This paper examines publicly listed Chilean firms’ performance during the 2008–09 crisis. In particular, it studies the effects from changes in external financing conditions, aggregate demand, and international trade on firms’ investment, sales, and profits, using firm-specific characteristics measured prior to the crisis. The evidence suggests that the crisis had a larger negative impact on firms with greater reliance on external financing, and firms with higher sensitivity to aggregate demand and exports. Firms with more foreign currency debt also had larger declines in sales, although their investment or profits did not differ significantly from other firms.
Subject: Demand elasticity, Economic theory, Exports, External debt, Foreign currency debt, Government liabilities, International trade, Public financial management (PFM)
Keywords: cash flow, Demand elasticity, Exports, external financing, financial crisis, financing needs, firm, firm performance, firm Summary statistics, firms, Foreign currency debt, Global, Government liabilities, utilities firm, WP
Pages:
17
Volume:
2012
DOI:
Issue:
261
Series:
Working Paper No. 2012/261
Stock No:
WPIEA2012261
ISBN:
9781475550573
ISSN:
1018-5941
