Review of Industrial Organization

, Volume 25, Issue 3, pp 251–273

The Determinants of Survival of Spanish Manufacturing Firms

  • Silviano Esteve Pérez
  • Amparo Sanchis Llopis
  • Juan Alberto Sanchis Llopis
Article

DOI: 10.1007/s11151-004-1972-3

Cite this article as:
Pérez, S.E., Llopis, A.S. & Llopis, J.A.S. Rev Ind Organ (2004) 25: 251. doi:10.1007/s11151-004-1972-3

Abstract

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 better survival prospects.

Keywords

Exit survival analysis 

Copyright information

© Kluwer Academic Publishers 2004

Authors and Affiliations

  • Silviano Esteve Pérez
    • 1
  • Amparo Sanchis Llopis
    • 1
  • Juan Alberto Sanchis Llopis
    • 1
  1. 1.Facultad de Economía. Departamento de Economía Aplicada IIUniversidad de Valencia Edificio Departamental OrientalValenciaSpain

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