Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/24022 
Autor:innen: 
Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
ZEW Discussion Papers No. 03-72
Verlag: 
Zentrum für Europäische Wirtschaftsforschung (ZEW), Mannheim
Zusammenfassung: 
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.
Schlagwörter: 
Exit
Bankruptcy
Voluntary Liquidation
Transition Economy
Duration Analysis
JEL: 
C14
L20
P30
P52
C41
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
317.56 kB





Publikationen in EconStor sind urheberrechtlich geschützt.