The Performance of German Firms in the Business-Related Service Sectors: a Dynamic Analysis

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URL:	http://ub-madoc.bib.uni-mannheim.de/552
URN:	urn:nbn:de:bsz:180-madoc-5529
Dokumenttyp:	Arbeitspapier
Erscheinungsjahr:	2000
Titel einer Zeitschrift oder einer Reihe:	None
Sprache der Veröffentlichung:	Englisch
Einrichtung:	Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC-Schriftenreihe:	Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Fachgebiet:	330 Wirtschaft
Fachklassifikation:	JEL: C14 L89 C23 ,
Normierte Schlagwörter (SWD):	Deutschland , Dienstleistungssektor , Markov-Modell
Abstract:	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 and a multinomial logit specification to model the transition probabilitites. Three variants of the model are estimated: a linear index model with and without unobserved firm heterogeneity and a semiparametric model. Main results are that firm size has a positive effect on firm performance, that young firms outperform older competitors, that a ank-relationship with a single creditor has a stabilizing effect and that the degree of diversification has a negative impact on firm performance. The legal status appears to have no significant effect.