Abstract
The existing literature on …rm survival focuses almost exclusively on …rm- and industry-level determinants. What is generally overlooked, albeit extremely important for …rm survival in developing countries, is the impact of institutional quality. Using data from manufacturing …rms in China for the 1998-2005 period, we …nd that institutional quality has a signi…cant and positive impact on the survival of private enterprises. Speci…cally, a one-standard-deviation increase
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