Productive disasters? – Evidence from European firm level data
نویسندگان
چکیده
This paper examines the impact of floods on firms’ capital accumulation, employment growth and productivity by using a difference-indifference approach and considering firms’ asset structure. We find evidence that after a flooding companies in flooded regions show on average higher growth of total assets and employment than firms in areas not affected by flooding. The positive effect prevails for companies with larger shares of intangible assets. Regarding firms’ productivity a negative flood effect is observable which declines with increasing share of intangible assets. JEL Codes: D24, Q54, R10, C21,
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