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Does firm performance withstand the test of time? New evidence from a transactional economy

Rey Dang, Lubica Hikkerova, L’Hocine Houanti, Nhu Tuyen Le and Manh-Chien Vu

Post-Communist Economies, 2022, vol. 34, issue 3, 328-349

Abstract: Few studies have examined how the age of a firm can influence its economic performance over time. This study fills that gap by examining this issue from a large and unique sample of Vietnamese listed companies. Overall, we find evidence of a U-shaped relationship between firm age and firm performance (an initially negative effect of firm age on firm performance before the positive returns of firm age are realised). Our main findings are consistent with the liability of the ‘market newness’ hypothesis.

Date: 2022
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DOI: 10.1080/14631377.2021.1886791

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