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The effect of crises on firm exit and the moderating effect of firm size

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  • Amorim Varum, Celeste
  • Rocha, Vera Catarina

Abstract

The liability of smallness assumption suggests that smaller firms face higher exit risks. However, does it apply during crises? We show that during downturns size reduces firms’ exit risk by less; the hazard rate increases more rapidly in size.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 114 (2012)
Issue (Month): 1 ()
Pages: 94-97

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Handle: RePEc:eee:ecolet:v:114:y:2012:i:1:p:94-97

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Survival; Hazard; Firm size; Crisis; Manufacturing; Portugal;

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  1. Liu, Jin-Tan & Tsou, Meng-Wen & Hammitt, James K., 1999. "Do small plants grow faster? Evidence from the Taiwan electronics industry," Economics Letters, Elsevier, vol. 65(1), pages 121-129, October.
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  7. Silviano Pérez & Amparo Llopis & Juan Llopis, 2004. "The Determinants of Survival of Spanish Manufacturing Firms," Review of Industrial Organization, Springer, vol. 25(3), pages 251-273, 08.
  8. Audretsch, David B., 1995. "Innovation, growth and survival," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 441-457, December.
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