Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial Crisis [electronic resource] / Yi Wu.
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TextSeries: IMF Working Papers; Working Paper ; No. 12/261Publication details: Washington, D.C. : International Monetary Fund, 2012Description: 1 online resource (17 p.)ISBN: 147555057X :ISSN: 1018-5941Subject(s): Aggregate Demand | External Finance | Firms | Foreign Currency | General | ChileAdditional physical formats: Print Version:: Performance of Publicly Listed Chilean Firms During the 2008-2009 Global Financial CrisisOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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.
Description based on print version record.
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