Abstract
We examine how the 2008-2009 global crisis affected wholesalers’ spending on security and their losses due to crime in Eastern European and Central Asian countries. The results indicate that a similar percentage of wholesalers paid for security pre- and post-crisis. The results also indicate that the wholesalers that paid for security spent less on security post-crisis. A higher percentage of the partnerships and the larger wholesalers spent money on security post-crisis when compared to the pre-crisis period. On the other hand, fewer shareholding firms with shares traded privately and fewer firms with one or more female owners spent money on security post-crisis when compared to pre-crisis. Especially smaller firms, firms that are not part of a larger firm and sole proprietorships spent less on security post-crisis. Also, fewer wholesalers experienced losses due to crime post-crisis when compared to the pre-crisis period. Finally, our results indicate that, after the crisis, crime was seen as less of an obstacle by these firms.
Highlights
We examine the impact of the 2008-2009 global crisis on theft, robbery, vandalism, or arson experienced by wholesalers in Eastern European and Central Asian countries
Ayse Nilgun Balas, Halil Dincer Kaya are more affected by an economic crisis? Are all wholesalers influenced or are some of them influenced more negatively due to theft, burglary, vandalism, or arson? we study to what degree these wholesalers perceive crime as an obstacle
This study provides insight into the role of the global crisis on wholesalers’ security spending and their losses attained due to theft, burglary, vandalism or arson
Summary
We examine the impact of the 2008-2009 global crisis on theft, robbery, vandalism, or arson experienced by wholesalers in Eastern European and Central Asian countries. We investigate the influence of the crisis on these firms’ spending on security. Our main objective is to see whether wholesalers were successful in allocating their funds (i.e. do they spend more or less money on security when a crime is more rampant?). In times of economic downturn, overall crime levels go up (Ivaschenko et al, 2012). We examine the role of firm characteristics, such as size, legal type, the gender of owners and top managers, in influencing the level of crime during an economic crisis. Our main goal is to answer the following questions: What type of wholesalers
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