Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial Crisis

October 31, 2012

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Format: Chicago

Yi Wu. Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial Crisis, (USA: International Monetary Fund, 2012) accessed December 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper examines publicly listed Chilean firms’ performance during the 2008–09 crisis. In particular, it studies the effects from changes in external financing conditions, aggregate demand, and international trade on firms’ investment, sales, and profits, using firm-specific characteristics measured prior to the crisis. The evidence suggests that the crisis had a larger negative impact on firms with greater reliance on external financing, and firms with higher sensitivity to aggregate demand and exports. Firms with more foreign currency debt also had larger declines in sales, although their investment or profits did not differ significantly from other firms.

Subject: Demand elasticity, Economic theory, Exports, External debt, Foreign currency debt, Government liabilities, International trade, Public financial management (PFM)

Keywords: Cash flow, Demand elasticity, Exports, External financing, Financial crisis, Financing needs, Firm, Firm performance, Firm Summary statistics, Firms, Foreign currency debt, Global, Government liabilities, Utilities firm, WP

Publication Details

Pages:

17
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2012/261
Stock No:

WPIEA2012261
ISBN:

9781475550573
ISSN:

1018-5941

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