Survival duration of plants : Evidence from U. S. petroleum refining industry

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題名:	Survival duration of plants : Evidence from U. S. petroleum refining industry
作者:	Chen, Ming-yuan
貢獻者:	淡江大學產業經濟學系
關鍵詞:	Duration analysis;Post-deregulation survival;Regulatory subsidy;Technology use;Multiplant coordination
日期:	2000-06-15
上傳時間:	2009-11-30 18:08:12 (UTC+8)
摘要:	This paper presents a duration analysis on the survival of US petroleum refining plants for the 1981–1986 period, when the industry as a whole declines in response to the decontrol of crude oil markets. The purpose is to examine the duration dependence and determinants of post-deregulation plant lifetimes. The Weibull model with the correction for unobserved individual heterogeneity provides a better fit to the data. Empirical results show that plant size, age, regulatory subsidies, technology use, and multiplant coordination are key determinants of refinery life duration after deregulation. In addition, major integrated oil companies tend to make timely restructuring via refinery closures and sales. The interactive effects of size and technology use and of multiplant coordination and integrated organization are also important to the refinery survival.
關聯:	2000 Taipei international conference on industrial economics
顯示於類別:	[產業經濟學系暨研究所] 會議論文

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