Survival of Firms in Crisis: Evidence from Antalya Tourism City

Year 2019, Volume: 7 Issue: 1, 1 - 23, 31.05.2019

Kemal Türkcan , Hilal Erkuş Öztürk

https://doi.org/10.30519/ahtr.438189

Cited By: 4

Abstract

Firm survival in tourism cities has long been a
topic of discussion, due to particularly the fragile nature of the tourism
industry. Crises make tourism cities even more fragile, which makes them an
ideal case for studying the effects of crises on firm survival. Antalya,
Turkey's leading tourist destination, has suffered from economic and political
crises in recent years. This study investigates the factors influencing firm
survival in a crisis-ridden tourism city. The results of a time-discrete
survival analysis show that firm survival depends on firm-, industry-, and
location-specific factors. Business survival declines in times of downturns.
The survival rate is higher for smaller and younger firms and lower for corporate
firms. There are no differences between foreign owned and domestic firms.

Keywords

firm survival, tourism cities, economic and political crisis, survival analysis

Supporting Institution

This work was supported by the BAGEP Award of the Science Academy with funding supplied by BAGEP2018.

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