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@article{ Holmes2009, title = {An analysis of new firm survival using a hazard function}, author = {Holmes, Phil and Hunt, Andrew John and Stone, Ian}, journal = {Applied Economics}, number = {2}, pages = {185-195}, volume = {42}, year = {2009}, doi = {https://doi.org/10.1080/00036840701579234}, urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-241494}, abstract = {A unique dataset is used to provide a detailed examination of the survival of newly-established manufacturing firms in north-east England. Using data on 781 firms established between 1973 and 2001, log-logistic hazard models are estimated separately for (i) micro-enterprises and (ii) small and medium establishments (SMEs). Both micro-enterprises and SMEs show clear evidence of positive duration dependence, followed by negative duration dependence. We find the two firm types are differentially affected by firm-specific and macroeconomic variables. Increases in initial plant size impact negatively on micro-enterprise survival and positively on SME survival.}, }