Podivinsky, Jan M. and Stewart, Geoff
Modelling proportions: random effects models of UK firm entry
Singapore Economic Review, 54, (3), . (doi:10.1142/S0217590809003380).
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A long-standing issue in industrial economics is the understanding of the relative prevalence of labour-managed firms (LMFs) and capitalist firms across industries. In proportionate terms, LMF entry tends to be highly concentrated in particular industries. We provide empirical evidence on this by modelling the proportions of industry entrants that are LMFs, using a panel of UK manufacturing industries. Random effects proportions models indicate the role and importance of risk and capital requirements as potential deterrents to LMF entry.
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