Abstract

http://ssrn.com/abstract=554562
 
 

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Macroeconomic Crisis and Individual Performance: The Mexican Experience


Karen Watkins


UPAEP

J. Spronk


Erasmus Research Institute of Management (ERIM)

Dick J. C. Van Dijk


Erasmus University Rotterdam - Erasmus School of Economics - Econometric Institute; ERIM

May 2004

Tinbergen Institute Working Paper No. TI 04-057/2

Abstract:     
This paper considers financial, operational, solvency, and performance ratios, in order to detect when there were balance sheets' variations related to the 1994 Mexican currency crisis. Quarterly results for 88 non-financial Mexican companies that survived the crisis are used, and tests for structural change are performed. Findings show that generally firms' balance sheets deteriorated between the fourth quarters of 1993 and 1995, which points the possibility of corporate roots of the macroeconomic crisis. Although in most cases firms' balance sheets improved after the crisis, the recovery was partial and gradual, and overall this episode was prejudicial even for surviving companies.

Number of Pages in PDF File: 42

Keywords: Financial crisis, firm-level data

JEL Classification: F3, G0, G3

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Date posted: June 3, 2004  

Suggested Citation

Watkins, Karen and Spronk, J. and van Dijk, Dick J. C., Macroeconomic Crisis and Individual Performance: The Mexican Experience (May 2004). Tinbergen Institute Working Paper No. TI 04-057/2. Available at SSRN: http://ssrn.com/abstract=554562 or http://dx.doi.org/10.2139/ssrn.554562

Contact Information

Karen Watkins (Contact Author)
UPAEP ( email )
21 sur 1103 Barrio
Puebla, 72410
Mexico
Jaap Spronk
Erasmus Research Institute of Management (ERIM) ( email )
P.O. Box 1738
3000 DR Rotterdam
Netherlands
Dick J.C. Van Dijk
Erasmus University Rotterdam - Erasmus School of Economics - Econometric Institute
P.O. Box 1738
3000 DR Rotterdam
Netherlands
ERIM ( email )
P.O. Box 1738
3000 DR Rotterdam
Netherlands
+31 10 408 1263 (Phone)
+31 10 4089162 (Fax)
HOME PAGE: http://people.few.eur.nl/djvandijk
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