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Exit, Entry and industry turbulence in Austrian Manufacturing, 1981-1994

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Author Info
Werner Hölzl () (Department of Economics, Vienna University of Economics & B.A.)

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Abstract

This research explores both industry and temporal aspects of entry, exit and industry turbulence in Austrian manufacturing in the period between 1981 to 1994. It is shown that while the net entry of both firms and establishments is quite stable over time, exit and especially the turnover and volatility of firms is influenced more by temporal effects. A regression analysis into the determinants of industry dynamics associated with entry and exit shows that sunk costs, scale economies and industry growth are primary determinants for different entry and exit regimes across 2-digit sectors, while profitability is found to be significant for dynamics related to exit but not for the entry of firms. The net entry dynamics of firms and establishments are found to be different in regard to capital intensity and profitability.

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Publisher Info
Paper provided by Vienna University of Economics and B.A. Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number geewp21.

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Date of creation: May 2002
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Handle: RePEc:wiw:wiwgee:geewp21

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Postal: Augasse 2-6, 1090 Vienna, Austria
Web page: http://www.wu-wien.ac.at/inst/vw1/gee/

For technical questions regarding this item, or to correct its listing, contact: (Werner Hoelzl).

Related research
Keywords: exit; entry; industry turbulence; Austrian manufacturing;

Find related papers by JEL classification:
L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
L6 - Industrial Organization - - Industry Studies: Manufacturing

This paper has been announced in the following NEP Reports:

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    Other versions:
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