BHATTACHARJEE, A.; HIGSON, C.; HOLLY, S.; KATTUMAN, P. - In: Economica 76 (2009) 301, pp. 108-131
We study the impact of the macroeconomic environment on business exit in a world where acquisition and bankruptcy are co-determined. We estimate competing risk hazard regression models using data on UK quoted firms spanning a 38-year period that witnessed several business cycles. We find that...