Abstract

GARZA CARDENAS, Manuel Humberto De la; SANCHEZ TOVAR, Yesenia  and  ZERON FELIX, Mariana. Identification of zombie companies in Mexico, impact of profitability and market share in them. Rev. mex. econ. finanz [online]. 2019, vol.14, n.4, pp.729-743.  Epub Feb 21, 2020. ISSN 2448-6795.  https://doi.org/10.21919/remef.v14i4.107.

The objective of this paper is to deepen the presence of zombie companies in the Bolsa Mexicana de Valores (BMV) and the factors that affect its existence. To do this, through the CHK method, the presence of zombie companies in Mexico was determined and, subsequently, through a logistic model, the impact of profitability and market share on zombie companies was evaluated. The data correspond to 102 firms registered in the BMV in 2015, in which the presence of 18 companies with zombie characteristics will be identified. While empirical analysis confirms that market share positively impacts zombie companies, while profitability decreases the probability of present in this situation. The model used represents one of the pioneering works in Latin America this type of companies and the light on the behavior that they follow as the samples and the characteristics of the market can be other important predictors the zombie companies and the corresponding relevant research lines.

Keywords : zombie firms; business competitiveness; cost of debt; G33; G32; M10.

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