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Market selection along the firm life cycle

Author

Listed:
  • Flora Bellone

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Patrick Musso

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Lionel Nesta

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Michel Quéré

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This article analyses market selection in French manufacturing in the nineties. It argues that the determinants of firm survival have different effects depending on firm age. Results show that exiting firms display low levels of profitability and productivity. This selection process is more severe for young firms because industry structures favor the survival of mature firms. Concerning the latter, markets select against persistent bad performers, not against temporary losses of efficiency. These results reveal the presence of barriers to firm growth—not to entry—as an important driver of industry dynamics.

Suggested Citation

  • Flora Bellone & Patrick Musso & Lionel Nesta & Michel Quéré, 2008. "Market selection along the firm life cycle," Sciences Po Economics Publications (main) hal-03415792, HAL.
    • Handle: RePEc:hal:spmain:hal-03415792
    DOI: 10.1093/icc/dtn025
    as

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