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Spatial patterns and determinants of firm exit: an empirical analysis on France

Author

Listed:
  • Giuseppe Arcuri

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

  • Marc Brunetto

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

  • Nadine Levratto

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

The purpose of this research is to study the role of spatial agglomeration economies as drivers of firm exit in France over the period 2009–2013 by focusing on two regional variables (local financial development and local specialization). The spatial autocorrelation detected in the data leads us to apply spatial econometric techniques (Spatial Dynamic Panel models and spatial GMM) that permit us to control the estimation of spatial spillover effects. Our results show that firm exit is significantly influenced by positive spatial autocorrelation. Therefore, locations with high exit rates tend to be surrounded by similar ones. However, this phenomenon differs according to the period. In addition, we find that greater local financial development reduces the exit rate in a department, whereas local specialization seems not to exert any effect.

Suggested Citation

  • Giuseppe Arcuri & Marc Brunetto & Nadine Levratto, 2019. "Spatial patterns and determinants of firm exit: an empirical analysis on France," Post-Print hal-01943083, HAL.
    • Handle: RePEc:hal:journl:hal-01943083
    DOI: 10.1007/s00168-018-0887-0
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    Cited by:

    1. Lara Abdel Fattah & Giuseppe Arcuri & Aziza Garsaa & Nadine Levratto, 2020. "Firm financial soundness and knowledge externalities: A comparative regional analysis," Papers in Regional Science, Wiley Blackwell, vol. 99(5), pages 1459-1486, October.
    2. Hanqiao Zhang, 2024. "Exit Spillovers of Foreign-invested Enterprises in Shenzhen's Electronics Manufacturing Industry," Papers 2404.18009, arXiv.org.
    3. Daragh O’Leary, 2024. "Firm interrelationships: the role of firm size," Letters in Spatial and Resource Sciences, Springer, vol. 17(1), pages 1-13, December.
    4. Josep-Maria Arauzo-Carod & Eva Coll-Martínez & Camelia Turcu, 2024. "Location attributes explaining the entry of firms in creative industries: evidence from France," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 72(1), pages 223-254, January.
    5. Ismaëlh Cissé & Jean Dubé, 2024. "Survival of new and small retail businesses facing mega‐retailers in non‐metropolitan areas—The case of Walmart in the province of Quebec," Growth and Change, Wiley Blackwell, vol. 55(1), March.

    More about this item

    Keywords

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    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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