Arbeitspapier
Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification
Exploiting the unique economic situation after German unification, I investigate how exit decisions deviate between new firms in a transition and a comparatively stable market environment. Two competing exit mechanisms are considered: entrepreneurial self-selection via voluntary liquidation and external selection based on insolvency regulation. Distinguishing between the competing exit modes proves to be crucial in semi-parametric propor- tional hazard-rate estimations. Comparing East and West Germany, I find distinct education and size effects and a higher share of bankruptcy-related liquidations in East Germany. These results are argued to reflect different industry structures, capital and labor market conditions in both parts of Germany.
- Language
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Englisch
- Bibliographic citation
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Series: ZEW Discussion Papers ; No. 03-72
- Classification
-
Wirtschaft
Semiparametric and Nonparametric Methods: General
Firm Objectives, Organization, and Behavior: General
Socialist Institutions and Their Transitions: General
Comparative Studies of Particular Economies
Duration Analysis; Optimal Timing Strategies
- Subject
-
Exit
Bankruptcy
Voluntary Liquidation
Transition Economy
Duration Analysis
Marktaustritt
Liquidation
Konkurs
Unternehmensgründung
Vergleich
Alte Bundesländer
Neue Bundesländer
Deutschland
- Event
-
Geistige Schöpfung
- (who)
-
Prantl, Susanne
- Event
-
Veröffentlichung
- (who)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (where)
-
Mannheim
- (when)
-
2003
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Prantl, Susanne
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Time of origin
- 2003
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