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ICC Advance Access originally published online on July 8, 2008
Industrial and Corporate Change 2008 17(4):753-777; doi:10.1093/icc/dtn025
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© The Author 2008. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.

This article appears in the following Industrial and Corporate Change issue: Special Issue: Schumpeterian Themes on Industrial Evolution, Structural Change and their Microfoundations [View the issue table of contents]

Market selection along the firm life cycle

Flora Bellone, Patrick Musso, Lionel Nesta and Michel Quéré

Correspondence: Flora Bellone, Université de Nice Sophia-Antipolis, avenue Doyen Trotabas, 06050 NICE Cedex 1, France, and CNRS-GREDEG, 250 rue Albert Einstein, Valbonne – Sophia Antipolis, 06560 France. e-mail: flora.bellone{at}gredeg.cnrs.fr

Correspondence: Patrick Musso, Université de Nice Sophia-Antipolis, avenue Doyen Trotabas, 06050 NICE Cedex 1, France, and CNRS-GREDEG, 250 rue Albert Einstein, Valbonne – Sophia Antipolis, 06560 France. e-mail: patrick.musso{at}gredeg.cnrs.fr

Correspondence: Lionel Nesta, Observatoire Français des Conjonctures Economiques, Département de Recherche sur l'Innovation et la Concurrence, 250, rue Albert Einstein, Valbonne – Sophia Antipolis, 06560 France. e-mail: lionel.nesta{at}ofce.sciences-po.fr

Correspondence: Michel Quéré, CEREQ, Marseille, France. e-mail: michel.quere{at}cereq.fr

This article analyses market selection in French manufacturing in the nineties. It argues that the determinants of firm survival have different effects depending on firm age. Results show that exiting firms display low levels of profitability and productivity. This selection process is more severe for young firms because industry structures favor the survival of mature firms. Concerning the latter, markets select against persistent bad performers, not against temporary losses of efficiency. These results reveal the presence of barriers to firm growth—not to entry—as an important driver of industry dynamics.


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