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 …

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 …

We analyse productivity growth in UK manufacturing 1980-92 using the newly available ARD panel of establishments drawn … organizational change) and 'external' restructuring (the process by which less efficient establishments exit and more efficient … growth and 90% of TFP growth over the period; (b) much of the external restructuring effect comes from multi …

the defence in a dynamic setting with uncertainty. A firm entering a market also considers its ease of exit, foreseeing … that it may later wish to leave should market conditions deteriorate. By facilitating exit in times of financial distress …, the failing firm defence may encourage entry sufficiently that welfare is increased overall. This view of the defence has …

within a region, explicitly taking into account exit, as well as entry, costs. Protecting workers by having strict lay … investigate how uncertainty affects the attractiveness of investment in a particular location. Just how much does the ease of exit … influence the entry decision? …

In an uncertain business climate, multinational enterprises must take account of future exit costs in deciding where to …

How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … not in laggard industries. To explain this pattern, we introduce entry into a Schumpeterian growth model with multiple … rich micro-level productivity growth and patent panel data for the UK, and controlling for the endogeneity of entry by …

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and … decisions and growth of principals, in the context of franchising. We find that a 30 percent decrease in average … collateralizable housing wealth in a region delays chains' entry into franchising by 0.28 years on average, 9 percent of the average …