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Macroeconomic Factors and Swedish Small and Medium-Sized Manufacturing Firm Failure
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences.
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences.ORCID iD: 0000-0003-2951-9204
2009 (English)Report (Other academic)
Abstract [en]

This paper employs a time series cointegration approach to evaluate the relationship between manufacturing firm failure and macroeconomic factors for the Swedish manufacturing sector in the period 1986 – 2006. It uses quarterly data for this period. We found that in long run a firms’ failure is negatively related to the level of industrial activity, money supply, GNP and economic openness rate, and positively related to the real wage. Time series Error Correction Model (ECM) estimates suggest that macroeconomics risk factor impinge on firm failure on the sam direction in both the short run and the long run that adjustment to stabililise the relationship is quite slow.

Place, publisher, year, edition, pages
Stockholm: The Royal Institute of Technology Centre of Excellence for Science and Innovation Studies (CESIS), Paper No. 185. , 2009.
Series
CESIS Electronic Working Paper Series ; 185
Keyword [en]
estimating companies’ failure, macroeconomic factors, cointegration analysis, diagnostic tests
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:miun:diva-10575ISRN: Electronic Working Paper SeriesOAI: oai:DiVA.org:miun-10575DiVA, id: diva2:280050
Available from: 2010-01-10 Created: 2009-12-08 Last updated: 2011-12-20Bibliographically approved

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Salman, Khalikvon Friedrichs, Yvonne

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf