6533b82ffe1ef96bd1294610
RESEARCH PRODUCT
Age and productivity as determinants of firm survival over the industry life cycle
Silviano Esteve-pérezDiego RodriguezFabio Pierisubject
Industry life cycleFirm survival05 social sciencesGeneral Business Management and AccountingHazardSpanish manufacturing firmsCompetition (economics)Firm survival; industry life cycle; Spanish manufacturing firms; discrete time survival methodsManagement of Technology and Innovation0502 economics and businessindustry life cycleEconomicsdiscrete time survival methodsDemographic economicsOperations management050207 economicsProductivity050203 business & managementdescription
AbstractThis paper contributes to fill the gap between the literature on the determinants of firm survival and the empirical works on the industry life cycle (ILC). Using a representative sample of Spanish firms with 10 or more employees over the period 1993–2009, the role played by firm age and productivity in firm survival is empirically analysed across three stages of the life cycle of forty-seven 3-digit manufacturing sectors. In the ‘early’ stage of the ILC, firm age is negatively correlated with hazard rates while firm productivity is not. Firm productivity is associated with lower hazard in the ‘mature’ stage of the ILC, when competition is primarily efficiency-driven, while firm age does not play a significant role for firm survival. In the ‘intermediate’ stage, both age and productivity play a role in reducing firms’ hazard rates.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2017-02-14 |