| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1818 |
| DP1818 Product Market Integration and Wages: Evidence from a Cross-Section of Manufacturing Establishments in the United Kingdom | |
| Alistair Mitchell Ulph; John Driffill; Meloria Meschi | |
| 发表日期 | 1998-03-09 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | This paper studies the impact that capital market imperfections have on the natural selection of the most efficient firms by estimating the effect of the pre-deregulation level of leverage on the survival of trucking firms after the Carter deregulation. Highly leveraged carriers are less likely to survive the deregulation shock, even after controlling for various measures of efficiency. This effect is stronger in the imperfectly competitive segment of the motor carrier industry. High debt seems to affect survival by curtailing investments and reducing the price per-ton-mile that a carrier can afford to charge after deregulation. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Capital structures Product market competition Trucking industry |
| URL | https://cepr.org/publications/dp1818 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530954 |
| 推荐引用方式 GB/T 7714 | Alistair Mitchell Ulph,John Driffill,Meloria Meschi. DP1818 Product Market Integration and Wages: Evidence from a Cross-Section of Manufacturing Establishments in the United Kingdom. 1998. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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