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The Determinants of Survival of Spanish Manufacturing Firms

Silviano Esteve-Pérez (), Amparo Sanchis-Llopis () and Juan Llopis
Authors registered in the RePEc Author Service: Juan A. Sanchis Llopis ()

Review of Industrial Organization, 2004, vol. 25, issue 3, 251-273

Abstract: This paper analyses the factors determining Spanish manufacturing firms’ survival–and exit. The data are drawn from the survey Encuesta sobre Estrategias Empresariales for the period 1990–1999. The methodology includes both non-parametric techniques and the estimation of a Cox proportional hazards model (CPHM). Our results suggest that the probability of exit is higher for small firms and also for young and mature firms. Furthermore, exporting firms and firms performing R&D activities enjoy better survival prospects. Copyright Kluwer Academic Publishers 2004

Keywords: Exit; survival analysis (search for similar items in EconPapers)
Date: 2004
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Handle: RePEc:kap:revind:v:25:y:2004:i:3:p:251-273