Despite the strong resilience of the French food industry during the recent economic crisis, the bankruptcy rate for this sector has dramatically increased since 2010. This paper focuses on the economic and financial determinants of firm exit due to bankruptcy in the French food industry and compares them with those for other manufacturing industries. Based on a large sample of firm-level data for the period 2001-2012, we show that the bankruptcy risk pattern differs between food industry firms and other manufacturing firms. Firm productivity is an important determinant of a firm's probability of going bankrupt; productivity begins deteriorating 3 years before a failure. Controlling for firm productivity, we also show that credit cost has a positive and significant impact on the probability of bankruptcy. However, we observe smaller effect of credit cost on firms' bankruptcy risk. In contrast, productivity appears to have an important beneficial effect on bankruptcy risk reduction.
Référence électroniqueLilia Aleksanyan, « La situation économique et financière des entreprises agroalimentaires françaises (1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012) », Économie rurale [En ligne], 349-350 | septembre-novembre 2015, mis en ligne le 15 décembre 2017, consulté le 04 mai 2019.La présente étude met en exergue certaines caractéristiques économiques et inancières des entreprises agroalimentaires par rapport à l'ensemble de l'industrie manufacturière. Les différentes évolutions de la situation inancière avancent l'hypothèse de l'accroissement des contraintes de inancement bancaire pour les entreprises agroalimentaires. On observe en outre une détérioration de la situation des PME agroalimentaires sur la période récente, particulièrement après 2010. Par ailleurs, le secteur agroalimentaire est marqué par une forte hausse de défaillances entre 2010 et 2012. MOTS-CLÉS : secteur agroalimentaire, inancement d'entreprises, défaillance d'entreprises The economic and inancial situation of the French Food industries 1998-2012This study explores the economic and inancial characteristics of the French Food industries and compares them with the manufacturing industries. Different patterns of Food industries' inancial situation support the hypothesis on their growing inancing constraints. Moreover, we observe that the situation deteriorated over the recent period for Food industry SMEs. The bankruptcy rate of the food industries nearly doubled between 2010 and 2012. (JEL: L66, D20).
The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area, or by using the term "country" in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.