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Determinants of Survival of Newly Created SMEs in the Brazilian Manufacturing: An Econometric StudyLuis Otavio FacanhaUniversidade Federal do Rio de Janeiro (UFRJ) Marcelo ResendeUniversidade Federal do Rio de Janeiro (UFRJ); CESifo (Center for Economic Studies and Ifo Institute for Economic Research) Vicente Cardosoaffiliation not provided to SSRN February 21, 2012 CESifo Working Paper Series No. 3735 Abstract: The paper investigates the survival of newly created small and medium enterprises in Brazilian manufacturing taking as reference the 1996-2005 period. The econometric analysis relies on time-varying version of the proportional hazard rate model that controls for unobserved heterogeneity. The evidence mostly corroborates previous findings for developed countries. Salient results include the positive role played by firm size, industry size and industry growth on survival and yet the negative influence exerted by industrial concentration and entry rate.
Number of Pages in PDF File: 21 Keywords: survival, small and medium enterprises, manufacturing industry JEL Classification: L250, M210 working papers seriesDate posted: February 21, 2012Suggested CitationContact Information
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