{"id":114388,"date":"2024-01-22T18:53:27","date_gmt":"2024-01-22T17:53:27","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/114388\/"},"modified":"2024-11-07T04:21:33","modified_gmt":"2024-11-07T03:21:33","slug":"firm-growth-european-industry-dynamics-and-domestic-business-cycles-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/114388\/","title":{"rendered":"Firm Growth, European Industry Dynamics and Domestic Business Cycles"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-114388","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single Market program the EU 27 member countries share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms' behaviour at the expense of domestic fluctuations. Empirically, the results of a two-part model for a sample of European manufacturing firms reject this hypothesis. Additionally, subsidiaries of multinational enterprises constitute the most stable firm cohort throughout the observed business cycle.","onlinedate":"2010-07-19 02:00:00","lang":"English","publication_series":"","publication_date":"20100701","publication_date_year":"","publication_date_full":false,"publication_num_pages":"30","keywords":"[\"European integration\",\"Firm growth\",\"domestic business cycle\",\"industry dynamics\",\"multinational enterprises\",\"two-part model\"]","jelcodes":"[]","related_publications":"[]","pdf":338848,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"377","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44410],"research_groups":[3491],"collaboration":"","persons":[3600],"persons_data":"[{\"personId\":3600,\"personName\":\"Harald Oberhofer\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Oberhofer, H.<\\\/span> (2010). <span>Firm Growth, European Industry Dynamics and Domestic Business Cycles<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (377). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/40160\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/40160<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Oberhofer H<\\\/span>. <span class=\\\"title\\\"><span>Firm Growth, European Industry Dynamics and Domestic Business Cycles<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2010 Jul;(377).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{a0526592029c403abb5d246d6c1f5faa,<\\\/div><div>  title    = \\\"Firm Growth, European Industry Dynamics and Domestic Business Cycles\\\",<\\\/div><div>  abstract = \\\"Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single Market program the EU 27 member countries share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms' behaviour at the expense of domestic fluctuations. Empirically, the results of a two-part model for a sample of European manufacturing firms reject this hypothesis. Additionally, subsidiaries of multinational enterprises constitute the most stable firm cohort throughout the observed business cycle.\\\",<\\\/div><div>  keywords = \\\"European integration, Firm growth, domestic business cycle, industry dynamics, multinational enterprises, two-part model, European integration, Firm growth, domestic business cycle, industry dynamics, multinational enterprises, two-part model\\\",<\\\/div><div>  author   = \\\"Harald Oberhofer\\\",<\\\/div><div>  year     = \\\"2010\\\",<\\\/div><div>  month    = jul,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Firm Growth, European Industry Dynamics and Domestic Business Cycles<\\\/p><p>AU  - Oberhofer, Harald<\\\/p><p>PY  - 2010\\\/7<\\\/p><p>Y1  - 2010\\\/7<\\\/p><p>N2  - Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single Market program the EU 27 member countries share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms' behaviour at the expense of domestic fluctuations. Empirically, the results of a two-part model for a sample of European manufacturing firms reject this hypothesis. Additionally, subsidiaries of multinational enterprises constitute the most stable firm cohort throughout the observed business cycle.<\\\/p><p>AB  - Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single Market program the EU 27 member countries share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms' behaviour at the expense of domestic fluctuations. Empirically, the results of a two-part model for a sample of European manufacturing firms reject this hypothesis. 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