The Shadow of Death – An Emperical Analysis of the Pre-Exit Performance of New German Firms
The Shadow of Death – An Emperical Analysis of the Pre-Exit Performance of New German Firms
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死亡的阴影——德国新企业退出前绩效的实证分析
DOI：
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发表时间：
2004
期刊：
影响因子：
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通讯作者：
Matthias Almus
中科院分区：
文献类型：
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作者：
Matthias Almus
本文的实证研究证实了一个程式化的事实，即企业的业绩恶化前几年退出。出于这个原因，它是评估是否市场退出显着不同，在他们的就业发展，在市场退出前几年相比，幸存的公司已被选中使用非参数匹配方法。两组之间的就业增长率的比较表明，匹配的生存企业经历更高的增长率相比，他们退出的同行长达三年前退出市场。此外，由于各种原因，德国东西部之间存在着差异。
This paper makes an empirical contribution to the confirmation of the stylized fact that the performance of firms deteriorates in the years before exit. For this reason it is evaluated whether market exits differ significantly in their employment development in the years before market drop-out compared to surviving firms that have been selected using a non-parametric matching approach. The comparison of the employment growth rates among both groups reveals that the matched surviving firms experience higher growth rates compared to their exiting counterparts up to three years before market exit. Moreover, differences exist between Eastern and Western Germany due to various reasons.