search query: @indexterm plant closures / total: 32
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| Author: | Reynolds, S. S. |
| Title: | Plant closings and exit behaviour in declining industries. |
| Journal: | Economica
1988 : VOL. 55:220, p. 493-503 |
| Index terms: | PLANT CLOSURES STRATEGY |
| Language: | eng |
| Abstract: | The plant closing and exit strategies of firms operating in a declining industry are examined. A dynamic, game-theoretic model is utilized. The perfectness criterion is used to restrict the set of Nash equilibria. They are two key equilibrium results. First, when firms have the same number of plants, high cost plants close before lower cost plants. Second, a larger firm begins closing plants before a smaller firm, as long as cost differences are not large. |
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