Corporate life and death: who succumbs, who survives during disruption?

摘要

The purpose of this paper is to understand why a company dies, survives or thrives during periods of major macro transformation and what, specifically, we can learn from such diverse outcomes. This is particularly relevant today as the US economy has faced and continues to face major disruptions, including the internet, China's rise as a manufacturing powerhouse and, most recently, a new wave of tariffs and related trade uncertainties, discussed in the following text. To understand the extent of change in the macro environment in the USA since 1996 and its impact on US companies, this study used the S&P 500 as a proxy for the broader US economy and compared the S&P 500 lists from 1996 and 2018.