There has been few studies on competition and entry of firms in local service industries. I apply Bresnahan and Reiss (1991)'s entry threshold model to study competition in the U.S. bar industry, by linking market size and the number of bars in each local market. I find that entry of each...

Entry and exit are important phenomena. This paper reviews the evidence on the size of this process and its contribution to productivity and innovation. It then develops a detailed portrait of the characteristics of new firms that survive and those that fail. In doing so, it examines the type of...

The service industry makes up more than 57%2) of the total annual value added in Korea and provides almost 70% of the jobs of the economy. While a portion of the industry is growing continuously, in terms of labor productivity, the productivity of the service sector has continued to decline, and...