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| Author: | Box, M. |
| Title: | The death of firms: exploring the effects of environment and birth cohort on firm survival in Sweden |
| Journal: | Small business economics
2008 : DEC, VOL. 31:4, p. 379-393 |
| Index terms: | companies by size Scandinavia Nordic countries Sweden |
| Language: | eng |
| Abstract: | This paper examines the death of firms on a long-term perspective, exploring the life spans of nearly 2,200 firms in seven birth cohorts of Swedish joint-stock companies founded during seven separate years from 1899 to 1950. This paper's focus is on the interaction btw. the micro and macro levels, combining also structural and environmental (here as: env-al.) factors. Using a cohort approach, firm survival is related to firm age and size, and to the effect of cohort affiliation (here as: c-a.) and env-al. change over time, as well. During macroeconomic expansion, the risk of death decreases. Cohort effects are also evident. Firms founded during times of economic crisis show lower survival rates. Consequently, c-a. and env-al. forces, i.e. period effects, can explain differences in death rates in different firm populations. |
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