The Performance of German Firms in the Business-Related Service Sectors: A Dynamic Analysis
AbstractWe analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents’ ordinal indication of their changes in total sales. We use a first-order Markov chain and a multinomial logit specification to model the transition probabilities. Three variants of the model are estimated: a linear index model with and without unobserved firm heterogeneity and a semiparametric model. Main results are that firm size has a positive effect on firm performance, that young firms outperform older competitors, that a bank-relationship with a single creditor has a stabilizing effect and that the degree of diversification has a negative impact on firm performance. The legal status appears to have no significant effect.
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Bibliographic InfoPaper provided by Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg in its series Working Papers of BETA with number 2001-16.
Date of creation: 2001
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Service sector; business survey; firm performance; Markov chain;
Other versions of this item:
- Nguyen Van P. & Laisney F. & Kaiser U., 2004. "The Performance of German Firms in the Business-Related Service Sector: A Dynamic Analysis," Journal of Business & Economic Statistics, American Statistical Association, vol. 22, pages 274-295, July.
- van Phu, Nguyen & Kaiser, Ulrich & Laisney, François, 2000. "The performance of German firms in the business-related service sectors : a dynamic analysis," ZEW Discussion Papers 00-32, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- L89 - Industrial Organization - - Industry Studies: Services - - - Other
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
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