The Shadow of Death – An Emperical Analysis of the Pre-Exit Performance of New German Firms

The Shadow of Death – An Emperical Analysis of the Pre-Exit Performance of New German Firms This paper makes an empirical contribution to the confirmation of the stylized fact that the performance of firms deteriorates in the years before exit. For this reason it is evaluated whether market exits differ significantly in their employment development in the years before market drop-out compared to surviving firms that have been selected using a non-parametric matching approach. The comparison of the employment growth rates among both groups reveals that the matched surviving firms experience higher growth rates compared to their exiting counterparts up to three years before market exit. Moreover, differences exist between Eastern and Western Germany due to various reasons. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

The Shadow of Death – An Emperical Analysis of the Pre-Exit Performance of New German Firms

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2004 by Kluwer Academic Publishers
Subject
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1023/B:SBEJ.0000032033.00519.00
Publisher site
See Article on Publisher Site

Abstract

This paper makes an empirical contribution to the confirmation of the stylized fact that the performance of firms deteriorates in the years before exit. For this reason it is evaluated whether market exits differ significantly in their employment development in the years before market drop-out compared to surviving firms that have been selected using a non-parametric matching approach. The comparison of the employment growth rates among both groups reveals that the matched surviving firms experience higher growth rates compared to their exiting counterparts up to three years before market exit. Moreover, differences exist between Eastern and Western Germany due to various reasons.

Journal

Small Business EconomicsSpringer Journals

Published: Oct 2, 2004

References

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