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作者机构:Univ Strasbourg THEME BETA F-67000 Strasbourg France Ctr European Econ Res ZEW D-68034 Mannheim Germany Odense Univ DK-5230 Odense M Denmark
出 版 物:《JOURNAL OF BUSINESS & ECONOMIC STATISTICS》 (商业与经济统计学杂志)
年 卷 期:2004年第22卷第3期
页 面:274-295页
核心收录:
学科分类:0202[经济学-应用经济学] 02[经济学] 020208[经济学-统计学] 0201[经济学-理论经济学] 07[理学] 0714[理学-统计学(可授理学、经济学学位)] 0701[理学-数学]
主 题:business survey generalized additive model Markov chain multinomial logit model unobserved heterogeneity
摘 要:We analyze the performance of firms from the German business-related service sector for 1994-2000. Performance is measured by ordinal assessment of changes in total sales. We estimate first-order Markov chain models using extensions of the multinormal logit model: a linear index model with alternative specifications of heterogeneity and a semiparametric model. The preferred specification involves heterogeneity connected to the firm and the type of transition. Our findings include that size has a positive effect on performance, young firms outperform older competitors, a single creditor has a stabilizing effect, diversification has a negative impact, and performance is significantly affected by legal status. Measuring performance through profit rather than sales does not alter the qualitative results.