. This paper considers the post-entry/pre-exit adjustment process of firms with focus on financial dynamics (debt … contribute to post-entry dynamics, while turnover and transition effects contribute to pre-exit dynamics … private firms. With age, the post-entry struggle for life sees entrants become relatively larger and reduce their leverage …

plant experiences productivity decline and approaches exit, average wage falls, but more slowly than it rises in the case of ….S. Average wage starts out low for a new plant and increases along with labor productivity, as the plant survives and ages. As a … surviving new plants. Moreover, average wage declines slower than productivity does in failing plants, while it rises relatively …

also firm entry. The results are robust using an alternative measure of financial dependence …

substantial body of work has explored the importance of the extensive margins of plant entry and exit in employment and output …

Recent theories of industry dynamics emphasize the role of financial frictions in determining post entry performance of … hazard for nine entry cohorts …