The dynamics of French food industries: productivity, sunk costs and firm exit

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Date

2010

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HALSHS : archive ouverte en Sciences de l’Homme et de la Société - notices sans texte intégral

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Archives ouvertes

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Centre pour la communication scientifique directe

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info:eu-repo/semantics/OpenAccess

Mots-clés En Fr

FIRM PRODUCTIVITY SUNK COST FOOD INDUSTRY EXIT INDUSTRIE AGROALIMENTAIRE

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Industrial production Industry

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Pierre Blanchard et al., « The dynamics of French food industries: productivity, sunk costs and firm exit », HALSHS : archive ouverte en Sciences de l’Homme et de la Société - notices sans texte intégral, ID : 10670/1.e874fe...

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Résumé En

A semi-parametric approach is used to estimate the unobserved individual productivity of firms. This productivity is then introduced in a model of firm exit. We also introduce the firm’s level of sunk costs as an expected barrier to exit. By using an unbalanced panel of 4818 firms in French food industries from 1999 to 2002, we find a significantly negative relationship between the probability of exit of the firm and its individual efficiency, age and sunk costs level. At the opposite, the intensity of competition in an industry increases the propensity to exit for firms in that industry.

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