@techreport{vanPhu2000performance,
abstract = {We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents? ordinal indication of their changes in total sales. We use a firstorder Markov chain and a multinomial logit specification to model the transition probabilitites. Three variants of the model are estimated: a linear index model with and without unobserved firm heterogeneity and a semiparametric model. Main results are that firm size has a positive effect on firm performance, that young firms outperform older competitors, that a bank-relationship with a single creditor has a stabilizing effect and that the degree of diversification has a negative impact on firm performance. The legal status appears to have no significant effect.},
address = {Mannheim},
author = {Nguyen van Phu and Ulrich Kaiser and Fran\c{c}ois Laisney},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C14; C23; L89; 330; Markov chain; service sector; business survey; firm performance; multinomial logit model; generalized additive model; Unternehmensdienstleistung; Unternehmensentwicklung; Unternehmenswachstum; Erfolgsfaktor; Branchenentwicklung; Sch\"{a}tzung; Deutschland},
language = {eng},
number = {00-32},
publisher = {Zentrum f\"{u}r Europ\"{a}ische Wirtschaftsforschung (ZEW)},
title = {The performance of German firms in the business-related service sectors : a dynamic analysis},
type = {ZEW Discussion Papers},
url = {http://hdl.handle.net/10419/24378},
year = {2000}
}
