SURVIVAL AND GROWTH IN RETAIL AND SERVICE INDUSTRIES: EVIDENCE FROM FRANCHISED CHAINS*
利用特许经营连锁数据，研究发现企业年龄和规模影响增长与生存，且连锁特征有直接作用；年轻连锁规模越大反而退出率越高，连锁规模随时间趋同。
Abstract Using data on franchised chains, which are the type of single‐product entities emphasized in industry dynamics models, we show that age and size affect growth and survival even after controlling for chain characteristics and unobserved chain‐specific efficiency. This implies that age and size affect firm growth and survival for reasons other than those emphasized in learning‐type models. We also find that several chain characteristics affect growth and survival directly, and thus controlling for firm characteristics is important. Finally, we find that chain size increases rather than decreases exit among young chains, and chains converge in size over time.