英文摘要 |
Industry-switching behavior shows the multiplicity of firm dynamics and prevails in reality, but no related paper addresses how a firm performs its industry-switching. Based upon the input-output table, we create an industry-switching degree index (ISDI) which outperforms the traditional categorization methods to objectively characterize how each firm evolves in industry-switching behavior. Through Heckman’s two-step estimation we find that, in Taiwan’s electronics industry, the firm’s TFP positively motivates the firm to switch but it tends to not affect its ISDI. The industry-level factor, the competition effect, and some firm-specific characteristics significantly determine a firm’s switching decision and its degree of industry-switching. |