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Economic failure and the role of plant age and size : first evidence from German administrative data

Author

Listed:
  • Müller, Steffen
  • Stegmaier, Jens

    () (Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany])

Abstract

"This paper introduces a large-scale administrative panel data set on corporate bankruptcy in Germany that allows for an econometric analysis of involuntary exits where previous studies mixed voluntary and involuntary exits. Approximately 83 percent of all bankruptcies occur in plants with no more than 10 employees, and 61 percent of all bankrupt plants are not older than 5 years. The descriptive statistics and regression analysis indicate substantial negative age dependence with respect to bankruptcy risk but confirm negative size dependence for mature plants, only. Our results corroborate hypotheses stressing increasing capabilities and positional advantage, both predicting negative age dependence with respect to bankruptcy risk due to productivity improvements. The results are not consistent with the theories explaining age dependence via imprinting or structural inertia." (Author's abstract, IAB-Doku) ((en))

Suggested Citation

  • Müller, Steffen & Stegmaier, Jens, 2014. "Economic failure and the role of plant age and size : first evidence from German administrative data," IAB Discussion Paper 201413, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
  • Handle: RePEc:iab:iabdpa:201413
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    Cited by:

    1. Stephan, Gesine & Uthmann, Sven, 2014. "Akzeptanz von Vergeltungsmaßnahmen am Arbeitsplatz : Befunde aus einer quasi-experimentellen Untersuchung," IAB Discussion Paper 201427, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].

    More about this item

    Keywords

    Insolvenz; Betriebsstilllegung; Unternehmensalter; Beschäftigtenzahl; Betriebsgröße; Unternehmenserfolg; IAB-Betriebs-Historik-Panel;

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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