TY  - JOUR
PY  - 1998//
TI  - The Effect of Latent Hazards on Firm Exit in Manufacturing Industries
JO  - International review of law and economics
A1  - Merolla, A.Todd
SP  - 13
EP  - 24
VL  - 18
IS  - 1
N2  - This paper provides a theoretical and empirical examination of the impact of latent hazards on manufacturing firms. I discuss the effects of corporate structure and changes in legal regime on firm exit and derive several testable propositions. The empirical analysis tests whether a firm's expected liability from latent hazards affects the length of time the firm remains in business. I find that firms in more hazardous industries have shorter life spans. This research is the first extensive empirical study on the exit decisions of firms in hazardous industries.<p /> 
LA  - 
SN  - 0144-8188
UR  - http://dx.doi.org/10.1016/S0144-8188(97)00054-9
ID  - ref1
ER  -