The Long-Term Impact of Disaster Loans: The Case of Small Businesses after Hurricane Katrina

Hiramatsu, Tomoko; Marshall, María I.

doi:10.3390/su10072364

Cited by 17 publications

(16 citation statements)

References 20 publications

(60 reference statements)

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“…Furthermore, simply getting a loan or other financial assistance after the disaster did not necessarily help small businesses, it simply added to their debt load. Hiramatsu and Marshall ( 2018 ) also found a negative relationship between post-Katrina cash flow problems and post-Katrina success.…”

Section: Discussion Conclusion and Implicationsmentioning

confidence: 97%

“…Also, if strong storm damage was incurred, even businesses without pre-Katrina cash flow problems may begin to experience issues when trying to recover. Hiramatsu and Marshall ( 2018 ) found that even eight years following Katrina, many businesses were struggling to recover. Furthermore, simply getting a loan or other financial assistance after the disaster did not necessarily help small businesses, it simply added to their debt load.…”

Section: Discussion Conclusion and Implicationsmentioning

confidence: 99%

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The Effect of Cash Flow Problems and Resource Intermingling on Small Business Recovery and Resilience After a Natural Disaster

et al. 2020

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This study investigated the implications that cash flow problems and resource intermingling between the family and the business had on small business recovery and resilience after a natural disaster. This study contributed to the literature by studying the impact of cash flow problems and resource intermingling on small businesses in two separate periods: right after the natural disaster (period 1) and eight years after the disaster (period 2). Period 1 determined whether the business was in operation directly following Hurricane Katrina. Period 2 investigated success of the small business after Katrina (compared to pre-Katrina success). Results showed that cash flow problems and resource intermingling did not affect operational status directly following Katrina, but did play a role in business resilience in the long run.

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Section: Discussion Conclusion and Implicationsmentioning

confidence: 97%

Section: Discussion Conclusion and Implicationsmentioning

confidence: 99%

The Effect of Cash Flow Problems and Resource Intermingling on Small Business Recovery and Resilience After a Natural Disaster

et al. 2020

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“…In a study of the application process for federal disaster loans following Hurricane Katrina, Josephson and Marshall (2016) found that women owners were more likely to apply for disaster loans but, on average, received lower amounts. Hiramatsu and Marshall (2018) found that receiving a small business administration (SBA) disaster loan after Hurricane Katrina played a positive and statistically significant role in determining the actual revenue change and owner perception of revenues, but only for male owners.…”

Section: Business Models and Gendered Crisis Response: What Does The mentioning

confidence: 99%

Pivoting to stay the course: How women entrepreneurs take advantage of opportunities created by the COVID-19 pandemic

Manolova

Brush

Edelman

et al. 2020

International Small Business Journal

164

163

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COVID-19 is unique in the severity of its impact as it is a humanitarian disaster that has caused both a supply and a demand shock to the global economic system. It has disproportionately affected women entrepreneurs as their firms are younger and smaller. In this commentary, we contend that while all businesses must pivot their business models in times of tumultuous change, simultaneously reducing risk and seizing new opportunities, this is particularly difficult for women entrepreneurs, whose businesses are concentrated in the industry sectors most severely affected by the economic shutdown. We draw on recent survey data from the Diana International Research Institute (DIRI) to identify business model pivots in women-owned businesses, and conclude by offering a set of gendered future research questions.

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“…Davlasheridze, Fisher-Vanden, and Allen Klaiber (2017) found FEMA's disaster relief programmes to be effective in mitigating property losses, and Haynes et al (2019) note that it is more probable that businesses receiving SBA disaster loans will flourish in the long run. However, Webb, Tierney, and Dahlhamer (2002), Haynes, Danes, and Stafford (2011), and Hiramatsu and Marshall (2018) discovered no evidence of federal aid helping to improve long-term business recovery outcomes. This conclusion may stem from the fact that businesses that receive disaster relief aid also tend to suffer more economic losses and thus are worse off in the first place due to property damage caused by a disaster.…”

Section: Introductionmentioning

confidence: 99%

Reopening businesses after Hurricane Harvey: evidence from a duration model with spatial effects

Lee

2020

Disasters

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Post-disaster business return is key to restoring the local economy. This paper applies a duration model to analyse factors that explain the delay in reopening a business in south Texas, United States, after Hurricane Harvey struck the region in August 2017. Other than property damage, the duration of business closure depended on the type of business and the various characteristics of its owner. Reflecting the vital role that social capital plays in disaster resilience, local chamber of commerce members tended to reopen their businesses sooner than their non-member counterparts. Yet, there is evidence in support of the vulnerability of female chamber members. In addition to social networks, the finding of spatial interdependence implies that the decision of business owners to resume operations in the wake of a disaster is influenced by the decisions of their neighbours. Spatial interdependence also highlights the importance of providing disaster relief to businesses in a timely manner.

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The Long-Term Impact of Disaster Loans: The Case of Small Businesses after Hurricane Katrina

Cited by 17 publications

References 20 publications

The Effect of Cash Flow Problems and Resource Intermingling on Small Business Recovery and Resilience After a Natural Disaster

The Effect of Cash Flow Problems and Resource Intermingling on Small Business Recovery and Resilience After a Natural Disaster

Pivoting to stay the course: How women entrepreneurs take advantage of opportunities created by the COVID-19 pandemic

Reopening businesses after Hurricane Harvey: evidence from a duration model with spatial effects

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