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A survival analysis of Portuguese Firms
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Resumo(s)
This paper uses firm level data for Portugal and analyses the impact of financial ratios on the
probability of exit. While controlling for financial effects, the relationship between export
activity and exit was also studied. Different indicators for export performance were used. The
results indicate that financial factors - leverage, profitability and collateral - are relevant to
survival. They also indicate that firms that export have a lower hazard ratio but if they become
unsuccessful and exit the export market they will have a higher probability of exit when
compared to continuous exporters, continuous non-exporters and starters/switcher.
Descrição
Palavras-chave
Exiters Survival Financial-constraints Exports