SMBs

Growth And Survival Determinants Of Chinese Private Firms: Fieldwork Evidence And Econometric Estimates

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Executive Summary

This paper reports on one of the first empirical attempts to investigate small firm growth and survival, and their determinants, in the Peoples' Republic of China. The work is based on field work evidence gathered from a sample of 83 Chinese private firms (mainly SMEs) collected initially by face-to-face interviews, and subsequently by follow-up telephone interviews a year later. The authors extend the models of Gibrat (1931) and Jovanovic (1982), which traditionally focus on size and age alone (e.g. Brock and Evans, 1986), to a 'Comprehensive' growth model with two types of additional explanatory variables: firm-specific (e.g. business planning); and environmental (e.g. choice of location).

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