A micro-analysis of Irish firm deaths during the financial crisis (2006–2010)
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22. Aug. 2020
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Artikel-Kategorie: Research Article
Online veröffentlicht: 22. Aug. 2020
Seitenbereich: 1 - 16
DOI: https://doi.org/10.2478/ijm-2010-0004
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© 2020 Bernadette Power et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Figure 1
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Figure 4
Figure 5
Estimates of Cox Proportional Hazard Model across cohorts (with Efron correction for ties)
| Zero employees (dummy) | 2.8070 |
2.8000 |
2.5559 |
2.7103 |
2.2888 |
2.3643 |
1.8708 |
1.7485 |
1.5619 |
1.4044 |
2.3399 |
2.3515 |
| 1–4 employees (dummy) | 2.3839 |
2.2396 |
2.0433 |
2.0209 |
1.8728 |
1.9320 |
1.5236 |
1.4739 |
1.4025 |
1.2854 |
2.0167 |
1.9798 |
| 5–9 employees(dummy) | 0.6038 |
0.4123 (0.3647) | 0.4429 |
0.5626 |
0.5546 |
0.6117 |
0.4683 |
0.4649 |
0.4088 |
0.4190 |
0.6365 |
0.6768 |
| 10–49 employees (reference) | ||||||||||||
| 50+ employees (dummy) | −0.7813 (0.5476) | −0.9160 (0.7595) | −0.5952 |
−0.7864 (0.5282) | −1.2315 |
−1.6639 |
−0.7745 |
−0.5609 |
−1.1967 |
−1.4514 |
−1.1194 |
−1.0761 |
| Minimum efficient scale | 0.5259 |
0.2766 (0.4136) | 0.4961 |
−0.0704 (0.2357) | 0.1682 |
0.1692 |
0.3113 |
0.3809 |
0.3784 |
0.3543 |
0.3379 |
0.5294 |
| Entry rate | −0.0631 (0.0399) | −0.0904 (0.0582) | −0.0824 |
−0.0441 (0.0332) | −0.0624 |
−0.0943 |
−0.0389 |
−0.0818 |
−0.0582 |
−0.0639 |
−0.0146 |
−0.0267 |
| Sectorial growth | 0.0059 (0.4335) | −0.1751 (0.5975) | −0.0008 (0.2698) | −0.2557 (0.4520) | −0.3820 |
−0.7363 |
−1.0207 |
−1.2379 |
−0.6106 |
−0.6844 |
−0.7563 |
−0.9628 |
| Entry size | 0.1802 |
0.2062 (0.1287) | 0.1499 |
0.2648 |
0.1282 |
0.1738 |
0.1213 |
0.1853 |
0.1489 |
0.1329 |
0.1283 |
0.1194 |
| Herfindahl Index | −0.5713 |
−0.5779 |
0.3506 0.2318) | −0.0652 (0.4111) | 0.3360 |
0.7006 |
−0.1750 |
−0.2123 |
0.1574 |
0.2390 |
0.1419 |
0.2214 |
| Entry and exit cost | −0.2417 |
−0.3151 |
−0.2386 |
−0.1392 |
−0.1917 |
−0.2164 |
−0.1575 |
−0.2106 |
−0.1906 |
−0.2230 |
−0.2238 |
−0.2657 |
| Entry rate x sectorial growth | −0.0191 (0.0541) | 0.0169 (0.0888) | 0.0276 (0.0357) | 0.0551 (0.0660) | 0.0679 |
0.1270 |
0.1175 |
0.3809 |
0.0521 |
0.0613 |
0.0798 |
0.1123 |
| Capital intensity | −0.0305 (0.0349) | −0.0108 (0.0475) | −0.0284 |
0.0278 (0.0260) | −0.0019 (0.0069) | 0.0011 (0.0122) | −0.0063 (0.0059) | −0.0818 |
−0.0101 |
−0.0257 |
0.0006 (0.0029) | 0.0014 (0.0048) |
| Low technology/low knowledge services/other (reference) | ||||||||||||
| High and medium/high technology (dummy) | 0.2550 (0.3090) | 0.0696 (0.4206) | 0.4068 |
0.5186 |
−0.0166 (0.1238) | −0.1268 (0.2054) | 0.1022 (0.1027) | 0.1464 (0.1381) | 0.0638 (0.0819) | 0.1184 (0.1192) | 0.0291 (0.0529) | 0.0763 (0.0771) |
| Knowledge-intensive services (dummy) | 0.0176 (0.1739) | 0.0573 (0.2493) | 0.0711 (0.0761) | −0.1434 (0.1468) | −0.0030 (0.0328) | 0.0071 (0.0621) | 0.0260 (0.0263) | 0.0228 (0.0432) | 0.0424 |
0.0591 |
0.0666 |
0.0986 |
| Born pre-financial crisis (dummy) | 0.1714 |
0.1348 |
−1.4809 |
−1.5047 |
||||||||
| Regional unemployment growth | 0.0383 (0.1068) | 0.1014 (0.2556) | 0.0782 (0.0497) | 0.2485 |
0.0467 |
0.0420 (0.0555) | 0.0179 (0.0187) | 0.0259 (0.0389) | 0.0243 |
0.0167 (0.0299) | 0.0146 (0.0096) | 0.0554 |
| Urban (dummy) | 0.0169 (0.0888) | 0.0757 (0.0716) | 0.0174 (0.0311) | 0.0600 |
0.0620 |
0.0163 (0.0125) | ||||||
| Percentage at work | 0.0136 (0.1250) | −0.0061 (0.0065) | 0.0032 (0.0029) | −0.0002 (0.0021) | −0.0017 (0.0016) | 0.0042 |
||||||
| Percentage with third-level education | 0.0056 (0.0120) | 0.0137 (0.0099) | −0.0001 (0.0045) | −0.0008 (0.0031) | 0.0018 (0.0025) | 0.0013 (0.0017) | ||||||
| Percentage working in agri forestry, fishing | 0.0112 (0.0187) | 0.0072 (0.0173) | −0.0224 |
−0.0143 |
0.0004 (0.0042) | −0.0070 |
||||||
| Percentage working in construction | −0.0040 (0.0308) | 0.0042 (0.0099) | 0.0067 (0.0043) | 0.0027 (0.0031) | 0.0032 (0.0025) | 0.0100 |
||||||
| Percentage working in manufacturing | −0.0101 (0.0179) | −0.0151 |
0.0029 (0.0030) | −0.0018 (0.0023) | −0.0007 (0.0018) | −0.0001 (0.0013) | ||||||
| Percentage working in commerce trade | −0.0028 (0.0127) | −0.0120 (0.0081) | −0.0030 (0.0036) | −0.0020 (0.0027) | 0.0032 (0.0022) | −0.0006 (0.0015) | ||||||
| Percentage working in transport commerce | 0.0037 (0.0144) | 0.0067 (0.0168) | 0.0142 (0.0074) | −0.0006 (0.0054) | −0.0044 (0.0043) | 0.0083 |
||||||
| Percentage working in public administration | 0.0271 (0.0310) | 0.0128 (0.0121) | −0.0026 |
−0.0129 |
0.0024 (0.0033) | 0.0003 (0.0023) | ||||||
| Percentage working in professional services | 0.0294 (0.0186) | −0.0023 (0.0076) | 0.0001 (0.0034) | −0.0089 |
−0.0039 |
−0.0038 |
||||||
| Agriculture, fishing and extractive (dummy) | −0.3651 (0.2263) | −0.6301 |
0.2061 |
−0.3567 |
0.0806 |
−0.0224 |
−0.1330 |
−0.3979 |
−0.3221 |
−0.4112 |
−0.5427 |
−0.5816 |
| Manufacturing (reference) | ||||||||||||
| Construction (dummy) | −0.1958 (0.1876) | −0.2187 (0.2517) | 0.0676 (0.0982) | 0.3564 |
0.2832 |
0.4141 |
0.2371 |
0.2828 |
0.1819 |
0.1182 |
0.4709 |
0.4370 |
| Wholesalers, retail and repair of motor vehicles (dummy) | −0.5627 |
−0.7999 |
−0.0840 (0.0896) | 0.0579 (0.1368) | 0.0127 (0.0455) | 0.0449 0.0689 | 0.0595 (0.0395) | 0.0369 (0.0516) | 0.0893 |
0.1573 |
−0.0522 |
−0.0840 |
| Accommodation and food (dummy) | −0.7694 |
−0.8601 |
−0.0701 (0.1041) | 0.0356 (0.1543) | 0.2204 |
0.2486 |
0.1835 |
0.1258 |
0.1629 |
0.1761 |
−0.0182 (0.0232) | −0.1295 |
| Professional, scientific, technical (dummy) | −0.4876 |
−0.5067 (0.3590) | −0.1712 (0.1194) | 0.1905 (0.2119) | −0.0812 (0.0565) | −0.0512 0.0985 | −0.1169 |
−0.0607 (0.0683) | −0.1302 |
−0.0933 |
−0.0789 |
−0.0959 |
| Other services (dummy) | −0.2750 |
−0.3281 (0.2142) | 0.0048 (0.0884) | 0.1095 (0.1367) | −0.0205 (0.0439) | − −0.0301 0.0664 | −0.0451 (0.0366) | −0.0996 (0.0472) | −0.0515 |
−0.0371 (0.0420) | −0.0119 (0.0191) | −0.0582 |
| N | 5258 | 3432 | 39310 | 14625 | 73212 | 32544 | 74299 | 42065 | 130832 | 37687 | 322911 | 130353 |
| Event | 753 | 479 | 4547 | 1440 | 21220 | 7649 | 25595 | 14136 | 51916 | 22328 | 104031 | 46032 |
| 2 LOG L (with covariates) | 10847 | 6503 | 88314 | 24270 | 425889 | 142146 | 530876 | 277168 | 1142381 | 443823 | 2428677 | 1002415 |
| Wald | 405 |
282 |
1294 |
519 |
3637 |
1829 | 4045 |
2477 |
6737 |
2401 |
54276 |
24654 |