Brown, J. David (contributor); … - 2008
2 3 4
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jisct jt it st ct jt jisct
PExit X Y W G UNDOC
where firm j's probability of exit in time t is determined by … firm-specific characteristics in t,
jt
X ;
the firm's industry-specific characteristics at time t,
it
Y ; the firm … ct jist
PUNDOC X Y W G
POPDEN HISPENROL CS UNDOC
αα α α α
α αα υ
−
=+ + + +
++ + +
- 18 -
where
jt
X ,
it
Y ,
st …