Table 12
Hazard rate analysis of firm exits in the Canadian
retailing sector
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| Relative labour productivity | Relative multifactor productivity | |||
|---|---|---|---|---|
| coefficient | t statistics | coefficient | t statistics | |
| Variable | ||||
| Employment in log | -0.387 | -66.64 | -0.361 | -64.38 |
| Relative labour productivity in log | -0.250 | -40.63 | … | … |
| Relative multifactor productivity in log | … | … | -0.245 | -36.03 |
| Binary variables for entry cohort | ||||
| 1986 | … | … | … | … |
| 1987 | -0.017 | -0.76 | -0.016 | -0.76 |
| 1988 | -0.019 | -0.84 | -0.019 | -0.85 |
| 1989 | -0.048 | -2.11 | -0.049 | -2.16 |
| 1990 | 0.095 | 4.29 | 0.095 | 4.27 |
| 1991 | 0.116 | 5.17 | 0.115 | 5.15 |
| 1992 | 0.119 | 5.01 | 0.117 | 4.94 |
| 1993 | 0.165 | 6.93 | 0.165 | 6.92 |
| 1994 | 0.122 | 4.85 | 0.121 | 4.79 |
| 1995 | -0.263 | -9.33 | -0.263 | -9.33 |
| 1996 | -0.367 | -11.33 | -0.367 | -11.33 |
| Diagnosis statistics | ||||
| Observations | … | 71,278 | … | 71,278 |
| Log likelihood | … | -352,539 | … | -352,731 |
Note(s):
Estimation uses the Cox partial likelihood proportional hazards model.
All regressions control for fixed effects for 3-digit Standard Industrial
Classification industries.
Source(s):
Statistics Canada, Longitudinal Employment Analysis Program; Canada
Revenue Agency, Corporate Tax Statistical Universal File.
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