Shaken, stirred and indebted: Firm-level effects of earthquakes

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2024

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Elsevier Science inc

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Business
(2002)
We are a department that has been active for 22 years with the goal to determine the structural changes in economy and the problems of general business administration, to develop problem solving skills and to devise modelling techniques that fit our aims. Among our cornerstones are to graduate more students into administrative positions of our institutions, to help them realize their inner potential to be go-getters, to prepare them for the entrance exams for high-tier, well-respected public positions, and to help them participate graduate and doctorate degree programs at ease, nationally or internationally. In this regard, our course curriculum is constantly subject to updates. In addition, we do all in our power to graduate students that stand out, with double-major program opportunities. We make an effort to aid our students in kick-starting their professional life after completing a period of one semester at Private - Public institutions within the framework of our Cooperative Education Program.
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Economics
(1997)
Founded in 1997, the Department of Economics is among the founding departments of our University. The Department offers two extensive undergraduate programs, either in English or in Turkish. Our undergraduate programs are catered to developing our students’ skills of analytical thinking, and to practical education. In this regard, the Social Sciences Research and Training Laboratory, founded under the guidance of our department, offers hands-on training to our own students, students and academicians from other universities, and public institutions. Our Department also offers a Graduate Degree Program in Applied Economy and a Doctorate Degree Program in Political Economy for graduates of undergraduate and graduate degree programs.

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Abstract

Using firm-level data from Turkiye, we investigate the effects of earthquakes on firms' balance sheets. We find that earthquakes increase firms' liabilities but have a smaller effect on firms' assets, both in magnitude and significance. Using surveys sent to the finance and/or accounting managers of the largest 100 firms in Turkiye we identify common themes in their perceptions. Our findings reveal a consensus among respondents attributing the increased liabilities to exchange rate depreciation and lower business activity following a disaster. Conversely, higher availability of external credit is associated with a decrease in liabilities. Our analysis also indicates that finance managers with higher educational attainment may be underestimating the effects of earthquakes.

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Celik, Esref Ugur/0000-0001-9090-9346
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Celik, Esref Ugur ORCID logo

Keywords

Natural disasters, Firm-level data, Survey data, Perceptions, Causality, Difference-in-difference

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0

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Q2

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Q1

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97

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https://doi.org/10.1016/j.qref.2024.101894
 https://hdl.handle.net/20.500.14411/7290

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