competition model that studies the effect of trade liberalization on exit and sectoral restructuring in the business services … sector. We assume that firms are heterogeneous in their marginal costs, allowing the model to predict domestic M&A and exit … by closedown, as well as foreign M&A. The model is brought to detailed French firm-level data on exit and M&A in the …

reductions resulted in increases in firm exit, so our findings may be consistent with redistribution of quasi-rents towards low …

that entry and exit rates are positively correlated across industries. Our objective is to investigate the effect of sunk … costs and, in particular, market size on entry and exit rates. We analyse a stochastic dynamic model of a monopolistically … show existence and uniqueness of a stationary equilibrium with simultaneous entry and exit: efficient firms survive while …

need not be the case. In a single-firm benchmark, the blockholder governs through exit, selling her stake if the firm … underperforms. With multiple firms, the blockholder may sell even a value-maximizing firm, to disguise her exit from another …

Sovereign yield spreads within currency unions may reflect the risk of outright default. Yet, if exit from the currency … country of a currency union, allowing both for default within and exit from the union. Initially, the government runs …

consequences of activism. More recent models show that blockholders can govern through the alternative mechanism of “exit …

block funding for new entrants, or limit their access to refinance after a shock. This forces inefficient default and exit … lobby for weak enforcement, and retain control of collateral. We provide evidence that industry exit rates and profit …

organizational change) and 'external' restructuring (the process by which less efficient establishments exit and more efficient …