Life and death of businesses: A review of research on firm mortality

Journal of Business Valuation and Economic Loss Analysis

Volumn 4, Issue 1, 2009, Pages

  Morris, James R ^a  

^a UNIVERSITY OF COLORADO   (United States)

Author keywords

Death of firms; Firm mortality; Firm value and life expectancy; Life expectancy

Indexed keywords

EID: 73149091665     PISSN: None     EISSN: 19329156     Source Type: Journal    
DOI: 10.2202/1932-9156.1050     Document Type: Article

References (31)

1. Agarwal, Rajshree. 1997. Survival of Firms over the Product Life Cycle. Southern Economic Journal 63 (January): 571-584.
2. Agarwal, Rajshree, and David Audretsch. 2001. Does Entry Size Matter? The Impact of the Life Cycle and Technology on Firm Survival. Journal of Industrial Economics 49 (1) (March): 21-43. (Pubitemid 33583949)
3. Agarwal, Rajshree, and Michael Gort. 1996. The Evolution of Markets and Entry, Exit and Survival of Firms. Review of Economics and Statistics 78 (3) (August): 489-498. (Pubitemid 126121755)
4. Agarwal, Rajshree, M.B. Sarkar, and Raj Echambadi. 2002. The Conditioning Effect of Time on Firm Survival: An Industry Life Cycle Approach. Academy of Management Journal 45 (5): 971-994.
5. Altman, Edward. 1968. Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. Journal of Finance (September): 589-609.
6. Altman, Edward. 1989. Default Risk, Mortality Rates, and the Performance of Corporate Bonds. Charlottesvlle, VA: The Research Foundation of the Institute of Chartered Financial Analysts.
7. Altman, Edward. 1993. Corporate Financial Distress and Bankruptcy, 2nd ed. John Wiley & Sons.
8. Altman, Edward, R. Haldeman, and P. Narayanan. 1977. Zeta Analysis: A New Model to Identify Bankruptcy Risk in Corporations. Journal of Banking and Finance (June).
9. Armington, Catherine. 1998. Statistics of U.S. Businesses-Microdata and Tables: SBA/Census, Data on Establishments by Firm Size. Small Business Adminstration.
10. Audretsch, David. 1991. New Firm Survival and the Technological Regime. Review of Economics and Statistics 73 (3) (August): 441-450.
11. Audretsch, David, and Talat Mahmood. 1995. New Firm Survival: New Results Using a Hazard Function. Review of Economics and Statistics 77 (1) (February): 97-103.
12. Bruderl, Josef, Peter Preisendorfer, and Rolf Ziegler. 1992. Survival Chances of Newly Founded Business Organizations. American Sociological Review 57 (2) (April): 227-242.
13. Cochran, A.B. 1981. Small Business Mortality Rates: A Review of the Literature. Journal of Small Business Management 19 (4) (October): 50-59.
14. Cox, David. 1972. Regression Models and Life-Tables. Journal of the Royal Statistical Society (May/Aug): 187-220.
15. Cox, David. 1975. Partial Likelihood. Biometrica (May/Aug): 269-276.
16. Cox, D.R., and D. Oakes. 1985. Analysis of Survival Data. NY: Chapman & Hall.
17. Dun and Bradstreet. 1994. Business Failure Record, 1993. New York: Dun and Bradstreet.
18. Dunne, Paul & Hughes, Allan. 1994. Age, Size Growth and Survival: UK Companies in the 1980s. Journal of Industrial Economics 42 (2) (June): 115-140.
19. Dunne, Timothy, Mark Roberts, and Larry Samuelson. 1988. Patterns of Firm Entry and Exit in U.S. Manufacturing Industries. Rand Journal of Economics XIX: 495-515.
20. Dunne, Timothy, Mark Roberts, and Larry Samuelson. 1989. The Growth and Failure of U.S. Manufacturing Plants. Quarterly Journal of Economics 104 (4) (November): 671-698.
21. Evans, David. 1987. The Relationship Between Firm Growth, Size and Age: Estimates for 100 Manufacturing Industries. Journal of Industrial Economics 35 (4) (June): 567-581.
22. Hair, Joseph, William Black, Barry Babin, Rolph Anderson, and Ronald Tatham. 2006. Multivariate Data Analysis, 6th edition. Pearson/Prentice Hall.
23. Kiefer, Nicholas M. 1988. Economic Duration Data and Hazard Functions. Journal of Economic Literature XXVI (June): 646-679.
24. Klepper, Steven. 1997. Industry Life Cycles. Industrial and Corporate Change 6 (1): 145-181.
25. Maddala, G. S. 1983. Limited-Dependent and Qualitative Variables in Econometrics. Cambridge University Press.
26. Mahmood, Talat. 2000. Survival of Newly Founded Businesses: A Log-Logistic Model Approach. Small Business Economics 14: 223-237.
27. Mata, Jose, and Portugal, Pedro. 1994. Life Duration of New Firms. Journal of Industrial Economics 42 (3) (September): 227-245.
28. Myers, James. 1999. Conservative Accounting and Finite Firm Life: Why Residual Income Valuation Estimates Understate Stock Price. University of Washington Business School Working Paper (August).
29. Queen, Maggie, and Richard Roll. 1987. Firm Mortality: Using Market Indicators to Predict Survival. Financial Analysts Journal (May/June): 9-26
30. Reichstein, Toke. 2003. Firm Growth Rate Distributions, Firm Size Distributions and the Industry Life Cycle. Ph.D. Dissertation, Department of Business Studies, Danish Research Unit for Industrial Dynamics, Aalborg University, Aalborg, Denmark.
31. Simons, Kenneth L. 2001. Product Market Characteristics and the Industry Life Cycle. Working Paper, Department of Economics, University of London.