@techreport{Prantl2003Bankruptcy,
abstract = {Exploiting the unique economic situation after German unification, I investigate how exit decisions deviate between new firms in a transition and a
comparatively stable market environment. Two competing exit mechanisms
are considered: entrepreneurial self-selection via voluntary liquidation and
external selection based on insolvency regulation. Distinguishing between
the competing exit modes proves to be crucial in semi-parametric propor-
tional hazard-rate estimations. Comparing East and West Germany, I find
distinct education and size effects and a higher share of bankruptcy-related
liquidations in East Germany. These results are argued to reflect different
industry structures, capital and labor market conditions in both parts of
Germany.},
address = {Mannheim},
author = {Susanne Prantl},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C14; L20; P30; P52; C41; 330; Exit; Bankruptcy; Voluntary Liquidation; Transition Economy; Duration Analysis; Marktaustritt; Liquidation; Konkurs; Unternehmensgr\"{u}ndung; Vergleich; Alte Bundesl\"{a}nder; Neue Bundesl\"{a}nder; Deutschland},
language = {eng},
number = {03-72},
publisher = {Zentrum f\"{u}r Europ\"{a}ische Wirtschaftsforschung (ZEW)},
title = {Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification},
type = {ZEW Discussion Papers},
url = {http://hdl.handle.net/10419/24022},
year = {2003}
}
