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Live or Let Die? Alternative Routes to Industry Exit

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  • David Greenaway

    ()

  • Joakim Gullstrand
  • Richard Kneller

Abstract

Each year around 8 per cent of Swedish manufacturing firms leave an industry. Of the exit routes available, the least likely is firm closure. Firms are more likely to merge, become acquired or switch to a new industry. We investigate the importance of various firm and industry characteristics for the exit decision of Swedish firms from 1980-1996. From our analysis two patterns are evident. First, firms that close down appear to be the most distinct compared to those that remain within the sector. Second the same characteristic can have quite different associations with the different types of exit.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/s11079-009-9112-1
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Bibliographic Info

Article provided by Springer in its journal Open Economies Review.

Volume (Year): 20 (2009)
Issue (Month): 3 (July)
Pages: 317-337

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Handle: RePEc:kap:openec:v:20:y:2009:i:3:p:317-337

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Web page: http://www.springerlink.com/link.asp?id=100323

Related research

Keywords: Firm exit; Productivity; Resource reallocation; F14; F12;

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References

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  1. J. Bradford Jensen & Andrew B Bernard, 2002. "The Deaths of Manufacturing Plants," Working Papers 02-15, Center for Economic Studies, U.S. Census Bureau.
  2. Stefano Scarpetta & Philip Hemmings & Thierry Tressel & Jaejoon Woo, 2002. "The Role of Policy and Institutions for Productivity and Firm Dynamics: Evidence from Micro and Industry Data," OECD Economics Department Working Papers 329, OECD Publishing.
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  17. Dunne, Timothy & Klimek, Shawn D. & Roberts, Mark J., 2005. "Exit from regional manufacturing markets: The role of entrant experience," International Journal of Industrial Organization, Elsevier, vol. 23(5-6), pages 399-421, June.
  18. A. Bhattacharjee & Higson, C. & Holly, S. & Kattuman, P., 2002. "Macro Economic Instability and Business Exit: Determinants of Failures and Acquisitions of Large UK Firms," Cambridge Working Papers in Economics 0206, Faculty of Economics, University of Cambridge.
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Citations

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Cited by:
  1. Joachim Wagner, 2011. "Exports, Imports and Firm Survival: First evidence for manufacturing enterprises in Germany," Working Paper Series in Economics 211, University of Lüneburg, Institute of Economics.
  2. Sofie Balcaen & Sophie Manigart & Jozefien Buyze & Hubert Ooghe, 2012. "Firm exit after distress: differentiating between bankruptcy, voluntary liquidation and M&A," Small Business Economics, Springer, vol. 39(4), pages 949-975, November.
  3. Costa, Stefano & Pappalardo, Carmine & Vicarelli, Claudio, 2014. "Financial crisis, internationalization choices and Italian firm survival," MPRA Paper 54107, University Library of Munich, Germany.
  4. Joachim Wagner, 2011. "Productivity and International Firm Activities: What do we know?," Working Paper Series in Economics 194, University of Lüneburg, Institute of Economics.
  5. Joachim Wagner, 2011. "International Trade and Firm Performance: A Survey of Empirical Studies since 2006," Working Paper Series in Economics 210, University of Lüneburg, Institute of Economics.
  6. Norback, Pehr-Johan & Tekin-Koru, Ayca & Waldkirch, Andreas, 2013. "Multinational Firms and Plant Divestiture," MPRA Paper 45957, University Library of Munich, Germany.

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