We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents' ordinal indication of their changes in total sales. We use a firstorder Markov chain...

We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents' ordinal indication of their changes in total sales. We use a firstorder Markov chain...

We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents? ordinal indication of their changes in total sales. We use a firstorder Markov chain...

We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents? ordinal indication of their changes in total sales. We use a firstorder Markov chain...