Badly hurt? : natural disasters and direct firm effects

Felix Noth, Oliver Rehbein

We investigate firm outcomes after a major flood in Germany in 2013. We robustly find that firms located in the disaster regions have significantly higher turnover, lower leverage, and higher cash in the period after 2013. We provide evidence that the effects stem from firms that already experienced a similar major disaster in 2002. Overall, our results document a positive net effect on firm performance in the direct aftermath of a natural disaster.

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Year of publication:	[20. Dezember 2017]
Authors:	Noth, Felix ; Rehbein, Oliver
Publisher:	Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association
Subject:	natural disasters \| firm outcomes \| Katastrophe \| Disaster \| Unternehmenserfolg \| Firm performance \| Schätzung \| Estimation \| Katastrophenschaden \| Disaster damage

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Extent:	1 Online-Ressource (III, 10, 9 Seiten, 5,78 MB) Diagramme, Karten
Series:	IWH-Diskussionspapiere. - Halle, S. : IWH, ISSN 2194-2188, ZDB-ID 2836591-4. - Vol. 2017, no. 25 (December 2017)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/172483 [Handle]
Classification:	G21 - Banks; Other Depository Institutions; Mortgages ; Q54 - Climate; Natural Disasters
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011764922