Results 161 to 170 of about 1,189,173 (236)
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Zombie Firms, State Subsidies, and Aggregate Productivity
Economica, 2023Abstract Using firm‐level data from the manufacturing sector in China, I document that zombie firms are larger and less productive, and receive higher subsidy rates on average. The difference in subsidy rates between zombies and non‐zombies reflects both the selection criteria of zombies and the underlying joint distribution of ...
Xijie Gao
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Are zombie firms really contagious?
, 2023 We test the hypotheses that zombie firms are less productive and have lower employment growth and lower gross investment ratios than non-zombie firms in the same industry sector and that they are a source of contagion for the latter. Ever since Caballero et al.
Ernst, Norbert, Sigmund, Michael
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Zombie firms and corporate risk-taking
Managerial FinancePurpose This paper examines how subsidized credit affects the risk-taking behavior of zombie firms – businesses that have lost economic viability and ideally should have exited the market but persistently operate by relying on external support.
Arash Ghorbani
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SSRN Electronic Journal, 2022
We show that U.S. banks do not engage in zombie lending to firms of deteriorating profitability, irrespective of capital levels and exposure to such firms. In contrast, unregulated financial intermediaries do, originating more and cheaper loans to these firms.
Favara, Giovanni +2 more
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We show that U.S. banks do not engage in zombie lending to firms of deteriorating profitability, irrespective of capital levels and exposure to such firms. In contrast, unregulated financial intermediaries do, originating more and cheaper loans to these firms.
Favara, Giovanni +2 more
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When labor protection hurts to help: Evidence from zombie firm exits
Finance Research LettersYukihiro Yasuda
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Why Did ‘Zombie’ Firms Recover in Japan? [PDF]
The World Economy, 2011 AbstractThe Japanese economy experienced prolonged recessions during the 1990s. Previous studies suggest that evergreen lending to troubled firms known as ‘zombie firms’ distorted market discipline in terms of stabilising the economy and caused significant delays in its recovery. However, the eventual bankruptcy of zombies was rare. The purpose of this
Shin-ichi Fukuda, Jun-ichi Nakamura
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Walking Dead in the Marketplace: A Bibliometric Review of the Zombie Firm Literature
Journal of Economic SurveysZombie firms—businesses that persist despite chronic financial underperformance—have become a growing focus of economic research. Yet, the literature remains conceptually fragmented and methodologically diverse.
Riste Ichev
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Zombies: Who are they and how do firms become zombies?
Journal of Small Business Management, 2020Inefficient and uncompetitive companies operating in the economy are a significant impediment to sustainable economic growth. This article contributes to the knowledge on so-called zombie firms.
Ivana Blažková, Ondřej Dvouletý
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How does government intervention affect the formation of zombie firms?
Economic Modelling, 2021Zombie firms cause serious, widespread harm to the economy. It is thus important to clarify the reasons for their formation. This paper empirically investigates the effects of government intervention on the formation of zombie firms.
Guangqiang Liu, Xiaojie Zhang
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What do we know about zombie firms?
Bankers, Markets & Investors, 2022In recent years, the zombification of firms has become a global phenomenon. It began in Asia but has spread significantly, especially during the COVID-19 pandemic. Many studies outline some determinants and consequences of the phenomenon for firms, banks, and the economy. However, to date, no synthesis has been published.
Séverin, Éric, Veganzones, David
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