Using data over a 34-year span on UK quoted firms, this paper seeks to identify the factors that increase the likelihood of exit of firms. Firms may disappear through the mutually precluding events of bankruptcies and acquisitions. We use a competing-risks hazard model to determine...

Firms exit through the mutually precluding events of bankruptcy and acquisition. We use a competing risks hazard regression model to identify the characteristics leading to each of these two outcomes using over thirty years of data on US and UK quoted firms. We find evidence about the way in...

We study the impact of the macroeconomic environment on business exit in a world where acquisition and bankruptcy are co-determined. We estimate competing risk hazard regression models using data on UK quoted firms spanning a 38-year period that witnessed several business cycles. We find that...

Modern interest in business cycles has focused on the co-movements and correlations in the major macroeconomic aggregates. In this paper we offer another dimension to business cycle analysis which looks at the cross sectional distribution of the growth rate of gross sales by US quoted companies...

Modern interest in business cycles has focused on the co-movements and correlations in the major macroeconomic aggregates. In this paper we offer another dimension to business cycle analysis which looks at the cross sectional distribution of the growth rate of gross sales by US quoted companies...