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What drives survival of urban firms? An asset-based approach in Korea

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  • Yeol Choi
  • David W. Marcouiller
  • Hyun Kim
  • Jaesong Lee
  • Sungho Park

Abstract

In this study we examine the effect of internal firm assets and external firm assets on firm survival in a metropolitan region of South Korea during a 22-year period (1990–2012). Drawing upon secondary data for three urban firm types (manufacturing, construction, and service), we apply a spatial Cox proportional hazard model and time series intervention to examine empirical associations. Results suggest that larger and older firms positively contributed to stronger regional economic outcome. Further, those in close spatial proximity to related firms survived longer. Increased survival of urban firms is associated with firm capacities in the context of external economic shocks.

Suggested Citation

  • Yeol Choi & David W. Marcouiller & Hyun Kim & Jaesong Lee & Sungho Park, 2021. "What drives survival of urban firms? An asset-based approach in Korea," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 25(4), pages 574-592, October.
    • Handle: RePEc:taf:rjusxx:v:25:y:2021:i:4:p:574-592
    DOI: 10.1080/12265934.2020.1867624
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    Cited by:

    1. Cappelletti, Matilde & Giuffrida, Leonardo M., 2021. "Procuring survival," ZEW Discussion Papers 21-093, ZEW - Leibniz Centre for European Economic Research.

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