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The Performance of German Firms in the Business-Related Service Sector : A Dynamic Analysis

Author

Listed:
  • Phu Nguyen Van

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

  • Francois Laisney

    (Centre for European Economic Research (Mannheim, Germany) - Zentrum für Europäische Wirtschaftsforschung (ZEW) - University of Mannheim = Universität Mannheim)

  • Ulrich Kaiser

    (SDU - University of Southern Denmark)

Abstract

We analyze the performance of firms from the German business-related service sector for 1994–2000. Performance is measured by ordinal assessment of changes in total sales. We estimate first-order Markov chain models using extensions of the multinomial logit model: a linear index model with alternative specifications of heterogeneity and a semiparametric model. The preferred specification involves heterogeneity connected to the firm and the type of transition. Our findings include that size has a positive effect on performance, young firms outperform older competitors, a single creditor has a stabilizing effect, diversification has a negative impact, and performance is significantly affected by legal status. Measuring performance through profit rather than sales does not alter the qualitative results.

Suggested Citation

  • Phu Nguyen Van & Francois Laisney & Ulrich Kaiser, 2004. "The Performance of German Firms in the Business-Related Service Sector : A Dynamic Analysis," Post-Print hal-00279017, HAL.
    • Handle: RePEc:hal:journl:hal-00279017
    DOI: 10.1198/073500104000000145
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    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • L89 - Industrial Organization - - Industry Studies: Services - - - Other

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