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An analysis of new firm survival using a hazard function

Stone, I.; Hunt, A.; Holmes, P.R.

Authors

I. Stone

A. Hunt

P.R. Holmes



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.

Citation

Stone, I., Hunt, A., & Holmes, P. (2010). An analysis of new firm survival using a hazard function. Applied Economics, 42(2), 185-195. https://doi.org/10.1080/00036840701579234

Journal Article Type Article
Publication Date Jan 1, 2010
Deposit Date Jun 18, 2008
Journal Applied Economics
Print ISSN 0003-6846
Electronic ISSN 1466-4283
Publisher Taylor and Francis Group
Peer Reviewed Peer Reviewed
Volume 42
Issue 2
Pages 185-195
DOI https://doi.org/10.1080/00036840701579234
Public URL https://durham-repository.worktribe.com/output/1540803

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