This paper explores how the determinants of new-firm duration vary according to exit route: bankruptcy, voluntary … liquidation, or merger. Using a sample of new firms in Japan, we provide evidence that the effects of entrepreneur-, firm-, and …

This paper explores heterogeneous exits—bankruptcy, voluntary liquidation, and merger—by focusing on new firms. Using a … low price–cost margins, new firms are more likely to exit through voluntary liquidation and merger. Region …

This paper explores heterogeneous exits-bankruptcy, voluntary liquidation, and merger-by focusing on new firms. Using a … low price-cost margins, new firms are more likely to exit through voluntary liquidation and merger. Region …

values are materially affected by the strength of the mean reversion of profitability. Voluntary liquidation before default …

: entrepreneurial self-selection via voluntary liquidation and external selection based on insolvency regulation. Distinguishing between …

: entrepreneurial self-selection via voluntary liquidation and external selection based on insolvency regulation. Distinguishing between …