sample of large-cap firms from seven major industrial countries over the 1998~2002 period in order to examine the relative …

English Abstract: We empirically investigate the determinants of a firm’s exit from exporting, using Korean … interest rates are more pronounced on firms with higher debt ratio. In the primary exporting industries, the probability of a …

managerial efforts. There are two types of firms, incumbents and entrants. Each incumbent firm delegates its control to a manager … and cannot observe the manager's total effort. The managers of incumbent firms allocate their effort to two different … the number of incumbent firms, has two effects: an "output effect" which decreases the managerial incentive for productive …