Cover

Half-title

Title

Copyright

Contents

Preface

Knowledge gaps in industrial economics and the importance of panel data

Study objectives

Acknowledgements

1 The dynamics of competition

Introduction

Conceptual approaches to competition

Measuring the dynamics of competition

2 Greenfield entry and closedown exit

Introduction

Measurement issues

Data sources and definitions

The magnitude of greenfield entry and closedown exit

Entry and exit by size-class

Conclusion

3 Entry, exit, and the merger process

Introduction

The importance of mergers

Mergers compared with plant creation and destruction

Success as measured by exit rates

Conclusion

4 The rise and fall of incumbents

Introduction

The rise and fall of firms in the short run

Long-run rates of change in firm size

Turnover as measured by change in market share

Changes in size-class and market share

A comparison of the sources of turnover in market share

Conclusion

5 Patterns of large- and small-firm mobility

Introduction

Mobility patterns within industries

Inter-industry differences

Conclusion

6 Plant turnover in Canada and the United States

Data considerations

Measurement of job creation, destruction, and reallocation

Annual rates of job turnover

Cumulative five-year employment-turnover measures

Job turnover and industry characteristics

The importance of inter-industry labour reallocation

Conclusion

7 Measures of market structure and the intensity of competition

Introduction

Concentration statistics: the conventional wisdom

The relationship between structure and mobility

An evaluation of concentration statistics

Change in concentration levels

Concentration and mobility as indicators of the state of competition

Conclusion

8 The relationship between mobility and concentration

Introduction

The relationship between concentration and mobility

On the inside looking out: the influence of mobility on concentration

Conclusion

9 Turnover and productivity growth

Introduction

Productivity and plant turnover

Measuring the effect of plant turnover on productivity growth

Productivity growth as manna from heaven

Conclusion

10 Merger success

Introduction

Market-share change for mergers

Mergers and productivity

Mergers and labour costs

Mergers and profitability

Conclusion

11 Turnover in domestic and foreign enterprises

Introduction

Analytical background: multinational enterprises

Entry activity of multinationals in Canada

Empirical evidence on industry differences

Control changes and performance

Industry differences in productivity

The effect of nationality on the impact of mergers by foreign-ownership tranche

Conclusions

12 Industry efficiency and firm turnover in the Canadian manufacturing sector

Introduction

Measuring efficiency

Efficiency in Canadian manufacturing

Industry characteristics associated with efficiency

Turnover and industry efficiency

The determinants of turnover

Conclusion

13 Firm turnover and profitability

Introduction

Profitability and competition

Inter-temporal stability of industry profits

Profitability and competition

Conclusion

14 Modelling entry

Introduction

The measurement of entry

Models of entry

Estimation procedures appropriate to count data

The effect of entry barriers

Conclusion

15 Conclusion

Industry dynamics

Implications for market performance

Concentration and firm turnover

The merger process

International comparisons

APPENDIX A: MEASURING FIRM TURNOVER - METHODOLOGY

Relating definitions to objectives

Conceptual issues

The databases

Definitions of establishment and enterprise

Dating entry and exit

Validation of identifiers

Implementation problems

APPENDIX B: DEFINITION OF CONCENTRATION AND MOBILITY MEASURES

Measures of concentration (based on shipments)

Measures of mobility

Industry characteristics variable list

Principal components and canonical correlates used

NOTES

Preface

1. The dynamics of competition

2. Greenfield entry and closedown exit

3. Entry, exit, and the merger process

4. The rise and fall of incumbents

5. Patterns of large- and small-firm mobility

6. Plant turnover in Canada and the United States

7. Measures of market structure and the intensity of competition

8. The relationship between mobility and concentration

9. Turnover and productivity growth

10. Merger success

11. Turnover in domestic and foreign enterprises

12. Industry efficiency and firm turnover in the Canadian manufacturing sector

13. Firm turnover and profitability

14. Modelling entry

Appendix A

REFERENCES

AUTHOR INDEX

SUBJECT INDEX