Using panel data from Spain Farinas and Ruano (IJIO 2005) test three hypotheses from a model by Hopenhayn (Econometrica 1992): (H1) Firms that exit in year t were in t-1 less productive than firms that continue to produce in t. (H2) Firms that enter in year t are less productive than incumbent firms in year t. (H3) Surviving firms from an entry cohort were more productive than non-surviving fir...

Entrepreneurship capital refers to the factors of a region that drives new businesses (Audretsch and Keilbach, 2004). This study considers industry growth and performance in manufacturing, retail and service as components of entrepreneurship capital to drive the long-term growth of new establishments. Using a panel data of 2,940 counties from 2002–2007, our results support the notion that the o...

This paper investigates empirically the main determinants of firm competitiveness under conditions of economic turmoil, with the use of panel data techniques. The study is based on firm-level financial data of 693 firms from the high and medium technology manufacturing sectors in Greece, and covers the time period 1996-2011, distinguishing between the pre-crisis (1996-2007) and the post-crisis ...

Do reported reservation wages correspond to the concept of reservation wages that economists have? Using panel data on British unemployed I calculate reservation wages from a search model and compare these with reported reservation wages. It is shown that men’s reported reservation wages are greater than what the model predicts, and that for women there is hardly a relation between the two vari...

Often the cooperation behavior of enterprises is described as a rational, conscious, and planned process. If so, a model should be able to identify distinguishing features that have a significant impact on the propensity for inter-firm cooperation. The proposed model analyzes the influence of the firm’s, the entrepreneur’s, and the industry-specific characteristics on the cooperation behavior v...

The effects of recent subprime financial crisis on the US stock market are analyzed. To investigate this problem, a Bayesian panel data analysis to identify common factors that explain the movement of stock returns when the dimension is high is developed. For highdimensional panel data, it is known that previously proposed approaches cannot estimate accurately the variance–covariance matrix. An...