Institutional quality and new firm survival

被引：20

作者：

Che, Yi ^{[1
]}

Lu, Yi ^{[2
]}

Tao, Zhigang ^{[3
]}

机构：

[1] Shanghai Jiao Tong Univ, Antai Coll Econ & Management, Shanghai, Peoples R China

[2] Tsinghua Univ, Sch Econ & Management, Beijing, Peoples R China

[3] Univ Hong Kong, Fac Business & Econ, Hong Kong, Hong Kong, Peoples R China

来源：

ECONOMICS OF TRANSITION | 2017年 / 25卷 / 03期

关键词：

New firm survival; institutional quality; private enterprises; China; STATE ENTERPRISE REFORM; MULTITASK THEORY; PROPERTY-RIGHTS; CHINA; ENTREPRENEURS; TECHNOLOGY; EVOLUTION; DURATION; FINANCE; PLANTS;

D O I：

10.1111/ecot.12119

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The existing literature on firm survival focuses almost exclusively on firm- and industry-level determinants. What is generally overlooked, albeit extremely important for firm survival in developing countries, is the impact of institutional quality. Using data from manufacturing firms in China for the 1998-2005 period, we find that institutional quality has a significant and positive impact on the survival of private enterprises. Specifically, a one-standard-deviation increase in the security of property rights protection leads to an 8.8 percent decrease in the hazard rate of private enterprises. Our results are robust to the inclusion of control variables and to various checks.

引用

页码：495 / 525

页数：31