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Modeling Proportions: Random Effects Models Of Uk Firm Entry

Author

Listed:
  • JAN M. PODIVINSKY

    (Economics Division, University of Southampton, Southampton SO17 1BJ, The United Kingdom)

  • GEOFF STEWART

    (Economics Division, University of Southampton, Southampton SO17 1BJ, The United Kingdom)

Abstract

A long-standing issue in industrial economics is the understanding of the relative prevalence of labor-managed firms (LMFs) and capitalist firms across industries. In proportionate terms, LMF entry tends to be highly concentrated in particular industries. We provide empirical evidence on this by modeling the proportions of industry entrants that are LMFs, using a panel of UK manufacturing industries. Random effects proportions models indicate the role and importance of risk and capital requirements as potential deterrents to LMF entry.

Suggested Citation

  • Jan M. Podivinsky & Geoff Stewart, 2009. "Modeling Proportions: Random Effects Models Of Uk Firm Entry," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 54(03), pages 367-377.
    • Handle: RePEc:wsi:serxxx:v:54:y:2009:i:03:n:s0217590809003380
    DOI: 10.1142/S0217590809003380
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    References listed on IDEAS

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    1. Frank H. Stephen, 1984. "Economics and Work Organization," Palgrave Macmillan Books, in: Frank H. Stephen (ed.), Firms, Organization and Labour, chapter 1, pages 3-24, Palgrave Macmillan.
    2. Dow,Gregory K., 2003. "Governing the Firm," Cambridge Books, Cambridge University Press, number 9780521818537.
    3. anonymous, 2003. "Editorial Objectives," Management Science, INFORMS, vol. 49(1), pages 1-1, January.
    4. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Gregory K. DOW, 2018. "The Theory Of The Labor-Managed Firm: Past, Present, And Future," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(1), pages 65-86, March.
    2. repec:bla:annpce:v:89:y:2018:i:1:p:65-86 is not listed on IDEAS
    3. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650, November.
    4. Arando, Saioa & Gago, Monica & Podivinsky, Jan M. & Stewart, Geoff, 2012. "Do labour-managed firms benefit from agglomeration?," Journal of Economic Behavior & Organization, Elsevier, vol. 84(1), pages 193-200.

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    More about this item

    Keywords

    Proportions data; random effects; panel data; firm entry; C23; L11;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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