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Geographical Vibrancy and Firm Performance

Abstract : We develop a geographical-based vibrancy index using important location characteristics that measure local economic health. We show that local vibrancy is associated with future firm outcomes, including investment, leverage, profitability, and firm value. More vibrant firms are located in counties with more highly educated populations, lower unemployment, higher labor force participation rate, higher home values, higher density of firms that pay higher wages, and a higher percent above poverty than are low vibrancy firms. Our results indicate that the local vibrancy of a firm headquarters is an important determinant of firm policies and profitability.
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Preprints, Working Papers, ...
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Submitted on : Thursday, January 31, 2019 - 8:25:47 PM
Last modification on : Friday, February 1, 2019 - 1:24:32 AM




  • HAL Id : hal-02002786, version 1



Michael Cooper, Alexei Ovtchinnikov. Geographical Vibrancy and Firm Performance. 2015. ⟨hal-02002786⟩



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