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http://hdl.handle.net/10419/24378
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| Title: | | The performance of German firms in the business-related service sectors : a dynamic analysis  |
| Authors: | | van Phu, Nguyen Kaiser, Ulrich Laisney, François |
| Issue Date: | | 2000 |
| Series/Report no.: | | ZEW Discussion Papers 00-32 |
| 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. |
| Subjects: | | Markov chain service sector business survey firm performance multinomial logit model generalized additive model |
| JEL: | | C14 C23 L89 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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