An analysis of new firm survival using a hazard function
- P. Holmes, A. Hunt and I. Stone (2010). Applied Economics, 185-195
- Abstract: A unique data set is used to provide a detailed examination of the survival of newly established manufacturing firms in north-east England. Using data on 781 firms established between 1973 and 2001, log-logistic hazard models are estimated separately for (i) micro-enterprises and (ii) small and medium establishments (SMEs). Both micro-enterprises and SMEs show clear evidence of positive duration dependence, followed by negative duration dependence. We find the two firm types are differentially affected by firm-specific and macro-economic variables. Increases in initial plant size impact negatively on micro-enterprise survival and positively on SME survival. 2010 Taylor & Francis.
- Theme: Growth and performance
- Keywords: data set, estimation method, firm size, macroeconomics, manufacturing, microenterprise, modeling, small and medium-sized enterprise, England, United Kingdom
- Reference type: Journal Article
- Geographic location: United Kingdom, Europe, Global North