Open AccessLa proximidad geográfica en el contagio del fracaso empresarial en la pyme: Una aplicación empírica con el modelo probit espacial
Author(s) -
Christian Fuentes,
Mariluz MatéSánchezVal,
Fernando A. López Hernández
Publication year - 2020
Publication title -
estudios de economía aplicada
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.123
H-Index - 6
eISSN - 1697-5731
pISSN - 1133-3197
DOI - 10.25115/eae.v34i3.3063
Subject(s) - probit model , business failure , probit , spillover effect , welfare economics , business , econometrics , economics , finance , microeconomics
This paper tests the role of spillover effects derived from the geographic proximity among reduced size firms in business failure. To get this purpose, we develop an empirical application on a sample of 2.710 Spanish Small, Medium size Enterprises (SMEs) located in the region of Murcia. With this information, we estimate a spatial probit regression model to contrast the significance of business spillover effects in business failure models. Our results show that the probability of business failure in SMEs depends not only on its own characteristics but also on the probability of failure of geographically close firms. Factors associated with social and/or economic interactions among the agents linked to the different firms in the same region would be behind these results.