MODELING PROPORTIONS: RANDOM EFFECTS MODELS OF UK FIRM ENTRY

Jan M. Podivinsky and Geoff Stewart
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Jan M. Podivinsky: Economics Division, University of Southampton, Southampton SO17 1BJ, The United Kingdom
Geoff Stewart: Economics Division, University of Southampton, Southampton SO17 1BJ, The United Kingdom

The Singapore Economic Review (SER), 2009, vol. 54, issue 03, 367-377

Abstract: A long-standing issue in industrial economics is the understanding of the relative prevalence of labor-managed firms (LMFs) and capitalist firms across industries. In proportionate terms, LMF entry tends to be highly concentrated in particular industries. We provide empirical evidence on this by modeling the proportions of industry entrants that are LMFs, using a panel of UK manufacturing industries. Random effects proportions models indicate the role and importance of risk and capital requirements as potential deterrents to LMF entry.

Keywords: Proportions data; random effects; panel data; firm entry; C23; L11 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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DOI: 10.1142/S0217590809003380

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