caa a22 4500 467994188 CHVBK 20180323112553.0 cr unu---uuuuu 170328e19900601xx s 000 0 eng 10.1007/BF00389674 doi (NATIONALLICENCE)springer-10.1007/BF00389674 Modeling the timing of business firm exits [Elektronische Daten] [Peter Garrod, Walter Miklius] The previous theoretical studies of the timing of business exits have employed two different approaches. They have either developed sequential decision-making models or models based on gambler's ruin. The purpose of this paper is to evaluate both approaches. For this task some simple models of the exit process are developed and it is shown that both types of models are capable of generating the observed patterns of firm mortality. The reasonableness of the assumptions and the importance of key variables in the two models are tested using a case study of restaurant exits. We find that the sequential decision-making model would have to be rather complex to serve as a realistic descriptive model of the exit process. Gambler's ruin models, on the other hand, provide a realistic descriptive model not only of the environment in which a large portion of this industry operates, but of the decision process as well. Models based on gambler's ruin may, therefore, provide a potentially useful approach for modeling exit process in other industries dominated by small firms. Kluwer Academic Publishers, 1990 Garrod Peter University of Hawaii at Manoa, 96822, Honolulu, HI, U.S.A. aut Miklius Walter University of Hawaii at Manoa, 96822, Honolulu, HI, U.S.A. aut Small Business Economics Kluwer Academic Publishers 2/2(1990-06-01), 141-153 0921-898X 2:2<141 1990 2 11187 https://doi.org/10.1007/BF00389674 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF00389674 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Garrod Peter University of Hawaii at Manoa, 96822, Honolulu, HI, U.S.A aut NATIONALLICENCE 700 1- Miklius Walter University of Hawaii at Manoa, 96822, Honolulu, HI, U.S.A aut NATIONALLICENCE 773 0- Small Business Economics Kluwer Academic Publishers 2/2(1990-06-01), 141-153 0921-898X 2:2<141 1990 2 11187 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer