Firm Organization and Retail Industry Dynamics
نویسنده
چکیده
This paper investigates the spatial organization and dynamics of retail markets using establishment level data on entry, exit, and location choice in the retail alcoholic beverage industry. Establishments are classi ̄ed into two groups based on ̄rm a±liation: chain vs. stand-alone stores. Stand-alone stores are further broken down into two categories according to product lines o®ered: diversi ̄ed vs. specialized stores. The organization and dynamics of the various groups di®er markedly. The number of chain stores per capita declines signi ̄cantly with market size, and these stores exhibit lower entry and exit rates in larger markets. This behavior cannot be readily reconciled with the competitive industry theory. In contrast, both the number per capita and the turnover rates of stand-alone stores are invariant to market size, a behavior consistent with that of a competitive industry. These ̄ndings suggest a dominant ̄rms-competitive fringe organization as one potential characterization of retail markets.
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