Kiyota, Kozo; Takizawa, Miho - Research Institute of Economy, Trade and Industry (RIETI) - 2006
This paper examines the pre-exit productivity performance and asks how productivity affects future survival, controlling for firm size and unobserved firm heterogeneity. Based on firm-level data in Japan for 1995-002, we found that firms did not face "sudden death" but there was a "shadow of...