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Byline: Georgios Fotopoulos (1), Helen Louri (2) Keywords: Entry; exit; failure; hazard; new firms Abstract: This paper attempts to identify the determinants ofhazard confronting 219 new manufacturing firmsestablished in 1982--84 and followed up to1992 using a Cox regression model. Three sets ofvariables are combined in the analysis: firm, sectorand cohort specific. Financial, firm specificcharacteristics such as larger initial financialcapital size, conservative borrowing, heavier fixedasset commitment and lower diversification in terms ofholding other firms' assets are estimated to reducefirm hazard. Higher sectoral entry and lower sunk costsectoral requirements by increasing marketcontestability increase risk of failure together withcyclical variations. Author Affiliation: (1) Department of Economics, University of Thessaly, Argonafton &amp Filellinon St., 382 21, Volos, Greece (2) Athens University of Economics and Business, 76 Patission Street, Athens, 10434, Greece Article History: Registration Date: 16/10/2004

A correction notice for an article published in the periodical 'Growth and Change', Spring 2001 issue, entitled 'Regional Variations of Firm Births, Deaths and Growth Patterns in the UK, 1980-1991' is presented.

A study is presented which proposes that industrial concentration, as measured through localisation, is a more significant factor in the death of companies than in their creation. It is seen that in the UK, areas of higher concentration of industry level have lower levels of company births and deaths.