The Determinants of Survival of Spanish Manufacturing Firms

@article{Prez2004TheDO,
  title={The Determinants of Survival of Spanish Manufacturing Firms},
  author={Silviano Esteve P{\'e}rez and Amparo Sanchis Llopis and Juan Alberto Sanchis Llopis},
  journal={Review of Industrial Organization},
  year={2004},
  volume={25},
  pages={251-273}
}
This paper analyses the factors determining Spanish manufacturing firms’ survival–and exit. The data are drawn from the survey Encuesta sobre Estrategias Empresariales for the period 1990–1999. The methodology includes both non-parametric techniques and the estimation of a Cox proportional hazards model (CPHM). Our results suggest that the probability of exit is higher for small firms and also for young and mature firms. Furthermore, exporting firms and firms performing R&D activities enjoy… CONTINUE READING

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