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The Determinants of Survival of Spanish Manufacturing Firms

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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.

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Authors and Affiliations

  1. Facultad de Economía. Departamento de Economía Aplicada II, Universidad de Valencia Edificio Departamental Oriental, Avenida de los Naranjos, s/n, 46022, Valencia, Spain

    Silviano Esteve Pérez, Amparo Sanchis Llopis & Juan Alberto Sanchis Llopis

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  1. Silviano Esteve Pérez
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  2. Amparo Sanchis Llopis
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  3. Juan Alberto Sanchis Llopis
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Correspondence to Silviano Esteve Pérez.

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Pérez, S.E., Llopis, A.S. & Llopis, J.A.S. The Determinants of Survival of Spanish Manufacturing Firms. Rev Ind Organ 25, 251–273 (2004). https://doi.org/10.1007/s11151-004-1972-3

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