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The Performance of German Firms in the Business-Related Service Sectors: A Dynamic Analysis

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  • Phu NGUYEN VAN
  • Ulrich KAISER
  • François LAISNEY

Abstract

We analyze the performance of firms in the German business-related services sector. A quarterly business survey provides the panel data base of our study. Firm performance is measured by the survey respondents’ ordinal indication of their changes in total sales. We use a first-order Markov chain and a multinomial logit specification to model the transition probabilities. Three variants of the model are estimated: a linear index model with and without unobserved firm heterogeneity and a semiparametric model. Main results are that firm size has a positive effect on firm performance, that young firms outperform older competitors, that a bank-relationship with a single creditor has a stabilizing effect and that the degree of diversification has a negative impact on firm performance. The legal status appears to have no significant effect.

Suggested Citation

  • Phu NGUYEN VAN & Ulrich KAISER & François LAISNEY, 2001. "The Performance of German Firms in the Business-Related Service Sectors: A Dynamic Analysis," Working Papers of BETA 2001-16, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  • Handle: RePEc:ulp:sbbeta:2001-16
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    References listed on IDEAS

    as
    1. Almus, Matthias & Nerlinger, Eric A, 1999. "Growth of New Technology-Based Firms: Which Factors Matter?," Small Business Economics, Springer, vol. 13(2), pages 141-154, September.
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    More about this item

    Keywords

    Service sector; business survey; firm performance; Markov chain;
    All these keywords.

    JEL classification:

    • L89 - Industrial Organization - - Industry Studies: Services - - - Other
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General

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