Research Output per year
Using data over a 34-year span on UK quoted firms, this paper seeks to identify the factors that increase the likelihood of exit of firms. Firms may disappear through the mutually precluding events of bankruptcies and acquisitions. We use a competing-risks hazard model to determine characteristics leading to each outcome. Hazard models make use of the data on timing of these alternative outcomes and we exploit this to focus attention on how the hazards change over the business cycles, conditional on the post-listing age of the firm. We find that the volatility in macro environment has a role in determining, in different ways, the hazard of firms going bankrupt or being acquired.
(This abstract was borrowed from another version of this item.)
|Publication status||Published - 2002|
|Event||Royal Economic Society Annual Conference 2002 - Warwick, United Kingdom|
Duration: 25 Mar 2002 → 27 Mar 2002
|Conference||Royal Economic Society Annual Conference 2002|
|Period||25/03/02 → 27/03/02|
Macro Economic Instability and Business Exit: Determinants of Failures and Acquisitions of Large UK FirmsBhattacharjee, A., Higson, C., Holly, S. & Kattuman, P., 2002, Cambridge: Faculty of Economics, University of Cambridge, 34 p. (Cambridge Working Papers in Economics; no. 0206).
Research output: Working paper
Bhattacharjee, A., Higson, C., Holly, S., & Kattuman, P. (2002). Macro Economic Instability and Business Exit: Determinants of Failures and Acquisitions of Large UK Firms. Paper presented at Royal Economic Society Annual Conference 2002, Warwick, United Kingdom. http://ideas.repec.org/p/ecj/ac2002/27.html