firm survival. We examine whether firms at different stages of export activity (starters, exiters, continuers, switchers …) react differently to changes in financial variables. In general, export starters and exiters experience much stronger … exporters and export switchers is less negatively affected by financial characteristics. These relationships between exporting …

spillovers from export oriented vs domestic market oriented FDI, and allow for differing effects depending on domestic firms …' export activities. The results suggest that the mechanisms through which spillovers affect domestic firms are very complex …