{"id":1676,"date":"2023-02-13T16:19:19","date_gmt":"2023-02-13T16:19:19","guid":{"rendered":"https:\/\/www.fiw.ac.at\/publications\/firm-growth-european-industry-dynamics-and-domestic-business-cycles\/"},"modified":"2023-02-13T16:19:19","modified_gmt":"2023-02-13T16:19:19","slug":"firm-growth-european-industry-dynamics-and-domestic-business-cycles","status":"publish","type":"publication","link":"https:\/\/www.fiw.ac.at\/en\/publications\/firm-growth-european-industry-dynamics-and-domestic-business-cycles\/","title":{"rendered":"Firm growth, European industry dynamics and domestic business cycles"},"content":{"rendered":"\n 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 (SMP) the EU 27 member states share a common market. Accordingly, the European industry business cycle is expected to become a more influential predictor of European firms&#x27; behavior 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 (MNEs) constitute the most stable firm cohort throughout the observed business cycle.\n\n\n","protected":false},"featured_media":0,"menu_order":0,"template":"","jelcode":[86,34,212,105,213],"keyword":[967,175,965,966,285,968],"class_list":["post-1676","publication","type-publication","status-publish","hentry","jelcode-f15","jelcode-f23","jelcode-l11","jelcode-l16","jelcode-l25","keyword-domestic-business-cycle","keyword-european-integration","keyword-firm-growth","keyword-industry-dynamics","keyword-multinational-enterprises","keyword-two-part-model"],"acf":{"year":2010,"month":9,"day":"","volume":"","number":"055","pages":32,"reviewed":"0","citeid":"FIW_WP_055","fiwseries":"FIW Working Papers","event":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Firm growth, European industry dynamics and domestic business cycles - FIW<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fiw.ac.at\/en\/publications\/firm-growth-european-industry-dynamics-and-domestic-business-cycles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Firm growth, European industry dynamics and domestic business cycles - FIW\" \/>\n<meta property=\"og:description\" content=\"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 (SMP) the EU 27 member states share a common market. 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