The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms
Autor(a) principal: | |
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Data de Publicação: | 2009 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10316/104774 https://doi.org/10.1007/s11187-009-9221-7 |
Resumo: | The pre-exiting productivity profile of mature firms relative to survivors is examined along with an evaluation of how productivity affects the probability of exit along various dimensions. An empirical approach, based on an unbalanced panel of Portuguese manufacturing firms covering a 10-year period, is used. The findings confirm that market selection forces low-productivity firms to exit, but there is also evidence that a sizeable portion of low-productivity firms do not shut down. Conversely, there is a non-negligible fraction of high-productivity firms that do actually close. Consistent with some key theoretical predictions, our analysis reveals that exiting firms have a falling productivity level over a number of years prior to exit. Finally, the results from the survival model show that both small firms and ones with low productivity are relatively much more likely to exit the market. Industry and macro-environment are also found to have a non-negligible role on the exit of mature firms. |
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The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firmsExit patternFirm survivalPre-exit performanceProductivityPortugalThe pre-exiting productivity profile of mature firms relative to survivors is examined along with an evaluation of how productivity affects the probability of exit along various dimensions. An empirical approach, based on an unbalanced panel of Portuguese manufacturing firms covering a 10-year period, is used. The findings confirm that market selection forces low-productivity firms to exit, but there is also evidence that a sizeable portion of low-productivity firms do not shut down. Conversely, there is a non-negligible fraction of high-productivity firms that do actually close. Consistent with some key theoretical predictions, our analysis reveals that exiting firms have a falling productivity level over a number of years prior to exit. Finally, the results from the survival model show that both small firms and ones with low productivity are relatively much more likely to exit the market. Industry and macro-environment are also found to have a non-negligible role on the exit of mature firms.2009info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/104774http://hdl.handle.net/10316/104774https://doi.org/10.1007/s11187-009-9221-7eng0921-898X1573-0913https://doi.org/10.1007/s11187-009-9221-7Carreira, CarlosTeixeira, Paulinoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-01-24T22:05:02Zoai:estudogeral.uc.pt:10316/104774Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:21:25.628495Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
title |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
spellingShingle |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms Carreira, Carlos Exit pattern Firm survival Pre-exit performance Productivity Portugal |
title_short |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
title_full |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
title_fullStr |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
title_full_unstemmed |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
title_sort |
The shadow of death: analysing the pre-exit productivity of Portuguese manufacturing firms |
author |
Carreira, Carlos |
author_facet |
Carreira, Carlos Teixeira, Paulino |
author_role |
author |
author2 |
Teixeira, Paulino |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Carreira, Carlos Teixeira, Paulino |
dc.subject.por.fl_str_mv |
Exit pattern Firm survival Pre-exit performance Productivity Portugal |
topic |
Exit pattern Firm survival Pre-exit performance Productivity Portugal |
description |
The pre-exiting productivity profile of mature firms relative to survivors is examined along with an evaluation of how productivity affects the probability of exit along various dimensions. An empirical approach, based on an unbalanced panel of Portuguese manufacturing firms covering a 10-year period, is used. The findings confirm that market selection forces low-productivity firms to exit, but there is also evidence that a sizeable portion of low-productivity firms do not shut down. Conversely, there is a non-negligible fraction of high-productivity firms that do actually close. Consistent with some key theoretical predictions, our analysis reveals that exiting firms have a falling productivity level over a number of years prior to exit. Finally, the results from the survival model show that both small firms and ones with low productivity are relatively much more likely to exit the market. Industry and macro-environment are also found to have a non-negligible role on the exit of mature firms. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10316/104774 http://hdl.handle.net/10316/104774 https://doi.org/10.1007/s11187-009-9221-7 |
url |
http://hdl.handle.net/10316/104774 https://doi.org/10.1007/s11187-009-9221-7 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
0921-898X 1573-0913 https://doi.org/10.1007/s11187-009-9221-7 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799134105055526912 |