Loading…

THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS

Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of firms. Testing these theories has been difficult because of the lack of financial data on small, young and private firms. Using a unique data set, T2LEAP, this paper considers the...

Full description

Saved in:

Bibliographic Details
Published in:	The Journal of industrial economics 2010-09, Vol.58 (3), p.661-689
Main Authors:	HUYNH, KIM P., PETRUNIA, ROBERT J., VOIA, MARCEL
Format:	Article
Language:	English
Subjects:	Business structures Canada Economic models Economic theory Employment Enterprises Financial analysis Financial leverage Financial performance Firm theory Impact analysis Industrial economics Labor productivity Manufacturers Manufacturing Market entry Productivity Publishing industry Small and medium sized enterprises Statistical significance Studies Tariffs
Citations:	Items that this one cites Items that cite this one
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

cited_by	cdi_FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3
cites	cdi_FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3
container_end_page	689
container_issue	3
container_start_page	661
container_title	The Journal of industrial economics
container_volume	58
creator	HUYNH, KIM P. PETRUNIA, ROBERT J. VOIA, MARCEL
description	Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of firms. Testing these theories has been difficult because of the lack of financial data on small, young and private firms. Using a unique data set, T2LEAP, this paper considers the survival of new firms in Canadian manufacturing from a financial perspective. Duration analysis quantifies the effects of firm, industry and aggregate factors. Findings show that nonlinear effects are found with firm leverage. Finally, likelihood decompositions offer insights into the contributing factors to firm hazard for nine entry cohorts during the period 1985–1997.
doi_str_mv	10.1111/j.1467-6451.2010.00429.x
format	article
fullrecord	<record><control><sourceid>jstor_proqu</sourceid><recordid>TN_cdi_proquest_miscellaneous_917301339</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>40985904</jstor_id><sourcerecordid>40985904</sourcerecordid><originalsourceid>FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3</originalsourceid><addsrcrecordid>eNqNkE9P2zAYxi00JLqyjzDJ4sIp3es_ie3DDlFIaaAkKDVCnKy0daRmhXRxq5VvP4egHnaaL379PM_PevUghAlMiD8_mgnhkQgiHpIJBa8CcKomxzM0Ohlf0AiA0oBISi7QV-caAFAhEyN0r2cpzh4e40TjYoqzPNNZPMfTLI_zpJ8WOtYpLnIvlQ_45qmMdeZfcVIWiwVOc12-4KSYFaVeXKLzuto6--3zHqOnaaqTWTAvbrMkngerMCIqiKgQHJZErmspSEjXNJRirchaiorAkhFh_XohrQSpoqWoJVOR5LK2XqN8tWRjdD38u-va3wfr9uZ141Z2u63ebHtwRhHBgDCmfPLqn2TTHro3v5wRXEkBysfGSA6hVdc619na7LrNa9W9GwKm79g0pq_S9FWavmPz0bE5evTngP7ZbO37f3PmrshSP3n--8A3bt92J56DkqEC7v1g8Ddub48nv-p-mUgwEZrn_NbA_PGe3z1LA-wvr8CQ-g</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>749870913</pqid></control><display><type>article</type><title>THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS</title><source>EconLit s plnými texty</source><source>International Bibliography of the Social Sciences (IBSS)</source><source>Business Source Ultimate</source><source>JSTOR Archival Journals and Primary Sources Collection</source><source>Wiley-Blackwell Read & Publish Collection</source><source>PAIS Index</source><creator>HUYNH, KIM P. ; PETRUNIA, ROBERT J. ; VOIA, MARCEL</creator><creatorcontrib>HUYNH, KIM P. ; PETRUNIA, ROBERT J. ; VOIA, MARCEL</creatorcontrib><description>Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of firms. Testing these theories has been difficult because of the lack of financial data on small, young and private firms. Using a unique data set, T2LEAP, this paper considers the survival of new firms in Canadian manufacturing from a financial perspective. Duration analysis quantifies the effects of firm, industry and aggregate factors. Findings show that nonlinear effects are found with firm leverage. Finally, likelihood decompositions offer insights into the contributing factors to firm hazard for nine entry cohorts during the period 1985–1997.</description><identifier>ISSN: 0022-1821</identifier><identifier>EISSN: 1467-6451</identifier><identifier>DOI: 10.1111/j.1467-6451.2010.00429.x</identifier><identifier>CODEN: JIEOAF</identifier><language>eng</language><publisher>Oxford, UK: Blackwell Publishing Ltd</publisher><subject>Business structures ; Canada ; Economic models ; Economic theory ; Employment ; Enterprises ; Financial analysis ; Financial leverage ; Financial performance ; Firm theory ; Impact analysis ; Industrial economics ; Labor productivity ; Manufacturers ; Manufacturing ; Market entry ; Productivity ; Publishing industry ; Small and medium sized enterprises ; Statistical significance ; Studies ; Tariffs</subject><ispartof>The Journal of industrial economics, 2010-09, Vol.58 (3), p.661-689</ispartof><rights>Copyright © 2010 Blackwell Publishing Ltd.</rights><rights>2010 The Authors. The Journal of Industrial Economics © 2010 Blackwell Publishing Ltd. and the Editorial Board of The Journal of Industrial Economics</rights><rights>Copyright Blackwell Publishing Ltd. Sep 2010</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3</citedby><cites>FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/40985904$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/40985904$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,27866,27924,27925,33223,33224,58238,58471</link.rule.ids></links><search><creatorcontrib>HUYNH, KIM P.</creatorcontrib><creatorcontrib>PETRUNIA, ROBERT J.</creatorcontrib><creatorcontrib>VOIA, MARCEL</creatorcontrib><title>THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS</title><title>The Journal of industrial economics</title><description>Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of firms. Testing these theories has been difficult because of the lack of financial data on small, young and private firms. Using a unique data set, T2LEAP, this paper considers the survival of new firms in Canadian manufacturing from a financial perspective. Duration analysis quantifies the effects of firm, industry and aggregate factors. Findings show that nonlinear effects are found with firm leverage. Finally, likelihood decompositions offer insights into the contributing factors to firm hazard for nine entry cohorts during the period 1985–1997.</description><subject>Business structures</subject><subject>Canada</subject><subject>Economic models</subject><subject>Economic theory</subject><subject>Employment</subject><subject>Enterprises</subject><subject>Financial analysis</subject><subject>Financial leverage</subject><subject>Financial performance</subject><subject>Firm theory</subject><subject>Impact analysis</subject><subject>Industrial economics</subject><subject>Labor productivity</subject><subject>Manufacturers</subject><subject>Manufacturing</subject><subject>Market entry</subject><subject>Productivity</subject><subject>Publishing industry</subject><subject>Small and medium sized enterprises</subject><subject>Statistical significance</subject><subject>Studies</subject><subject>Tariffs</subject><issn>0022-1821</issn><issn>1467-6451</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2010</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><sourceid>8BJ</sourceid><recordid>eNqNkE9P2zAYxi00JLqyjzDJ4sIp3es_ie3DDlFIaaAkKDVCnKy0daRmhXRxq5VvP4egHnaaL379PM_PevUghAlMiD8_mgnhkQgiHpIJBa8CcKomxzM0Ohlf0AiA0oBISi7QV-caAFAhEyN0r2cpzh4e40TjYoqzPNNZPMfTLI_zpJ8WOtYpLnIvlQ_45qmMdeZfcVIWiwVOc12-4KSYFaVeXKLzuto6--3zHqOnaaqTWTAvbrMkngerMCIqiKgQHJZErmspSEjXNJRirchaiorAkhFh_XohrQSpoqWoJVOR5LK2XqN8tWRjdD38u-va3wfr9uZ141Z2u63ebHtwRhHBgDCmfPLqn2TTHro3v5wRXEkBysfGSA6hVdc619na7LrNa9W9GwKm79g0pq_S9FWavmPz0bE5evTngP7ZbO37f3PmrshSP3n--8A3bt92J56DkqEC7v1g8Ddub48nv-p-mUgwEZrn_NbA_PGe3z1LA-wvr8CQ-g</recordid><startdate>201009</startdate><enddate>201009</enddate><creator>HUYNH, KIM P.</creator><creator>PETRUNIA, ROBERT J.</creator><creator>VOIA, MARCEL</creator><general>Blackwell Publishing Ltd</general><general>Blackwell Publishing</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7TQ</scope><scope>8BJ</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>201009</creationdate><title>THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS</title><author>HUYNH, KIM P. ; PETRUNIA, ROBERT J. ; VOIA, MARCEL</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2010</creationdate><topic>Business structures</topic><topic>Canada</topic><topic>Economic models</topic><topic>Economic theory</topic><topic>Employment</topic><topic>Enterprises</topic><topic>Financial analysis</topic><topic>Financial leverage</topic><topic>Financial performance</topic><topic>Firm theory</topic><topic>Impact analysis</topic><topic>Industrial economics</topic><topic>Labor productivity</topic><topic>Manufacturers</topic><topic>Manufacturing</topic><topic>Market entry</topic><topic>Productivity</topic><topic>Publishing industry</topic><topic>Small and medium sized enterprises</topic><topic>Statistical significance</topic><topic>Studies</topic><topic>Tariffs</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>HUYNH, KIM P.</creatorcontrib><creatorcontrib>PETRUNIA, ROBERT J.</creatorcontrib><creatorcontrib>VOIA, MARCEL</creatorcontrib><collection>Istex</collection><collection>CrossRef</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>The Journal of industrial economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>HUYNH, KIM P.</au><au>PETRUNIA, ROBERT J.</au><au>VOIA, MARCEL</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS</atitle><jtitle>The Journal of industrial economics</jtitle><date>2010-09</date><risdate>2010</risdate><volume>58</volume><issue>3</issue><spage>661</spage><epage>689</epage><pages>661-689</pages><issn>0022-1821</issn><eissn>1467-6451</eissn><coden>JIEOAF</coden><abstract>Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of firms. Testing these theories has been difficult because of the lack of financial data on small, young and private firms. Using a unique data set, T2LEAP, this paper considers the survival of new firms in Canadian manufacturing from a financial perspective. Duration analysis quantifies the effects of firm, industry and aggregate factors. Findings show that nonlinear effects are found with firm leverage. Finally, likelihood decompositions offer insights into the contributing factors to firm hazard for nine entry cohorts during the period 1985–1997.</abstract><cop>Oxford, UK</cop><pub>Blackwell Publishing Ltd</pub><doi>10.1111/j.1467-6451.2010.00429.x</doi><tpages>29</tpages></addata></record>
fulltext	fulltext
identifier	ISSN: 0022-1821
ispartof	The Journal of industrial economics, 2010-09, Vol.58 (3), p.661-689
issn	0022-1821 1467-6451
language	eng
recordid	cdi_proquest_miscellaneous_917301339
source	EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); Business Source Ultimate; JSTOR Archival Journals and Primary Sources Collection; Wiley-Blackwell Read & Publish Collection; PAIS Index
subjects	Business structures Canada Economic models Economic theory Employment Enterprises Financial analysis Financial leverage Financial performance Firm theory Impact analysis Industrial economics Labor productivity Manufacturers Manufacturing Market entry Productivity Publishing industry Small and medium sized enterprises Statistical significance Studies Tariffs
title	THE IMPACT OF INITIAL FINANCIAL STATE ON FIRM DURATION ACROSS ENTRY COHORTS
url	http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-18T14%3A52%3A24IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=THE%20IMPACT%20OF%20INITIAL%20FINANCIAL%20STATE%20ON%20FIRM%20DURATION%20ACROSS%20ENTRY%20COHORTS&rft.jtitle=The%20Journal%20of%20industrial%20economics&rft.au=HUYNH,%20KIM%20P.&rft.date=2010-09&rft.volume=58&rft.issue=3&rft.spage=661&rft.epage=689&rft.pages=661-689&rft.issn=0022-1821&rft.eissn=1467-6451&rft.coden=JIEOAF&rft_id=info:doi/10.1111/j.1467-6451.2010.00429.x&rft_dat=%3Cjstor_proqu%3E40985904%3C/jstor_proqu%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c5619-627740b18df87152d2587d91d87a10b317e00052a71a6b7f8396848fe05224cb3%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=749870913&rft_id=info:pmid/&rft_jstor_id=40985904&rfr_iscdi=true