On the real effects of private equity investment: evidence from new ...

Table 3Entry rates by industry in Europe against the US benchmarkNew firms as %of all firms, 1998-1999, EuropeNew firms as% of all firms,1998-1999, US2-digit NACE rev 1.1 code and industry nameManufacturing15. Food products and beverages 9.6 10.416. Tobacco products 16.1 14.817. Textiles 9.3 13.718. Wearing apparel; dressing and dying of fur 9.5 12.819. Tanning and dressing of leather; luggage, handbags, saddlery,harness, and footwear 8.6 18.220. Wood and products of wood and cork, except furniture 11.2 1221. Pulp, paper and paper products 9.5 10.622. Publishing, printing and reproduction of recorded media 11.2 1123. Coke, refined petroleum products, and nuclear fuel 10.8 11.524. Chemicals and chemical products 9.3 12.225. Rubber and plastic products 10.9 926. Other non-metallic mineral products 9.3 11.627. Basic metals 12.2 9.828. Fabricated metal products, except machinery and equipment 11.5 11.429. Machinery and equipment not elsewhere classified 10.4 8.630. Office machinery and computers 15.8 17.431. Electrical machinery and apparatus not elsewhere classified 11.0 11.832. Radio, television, and communication equipment and apparatus 13.8 16.533. Medical, precision, and optical instruments, watches, and clocks 9.7 11.434. Motor vehicles, trailers, and semi-trailers 10.8 10.435. Other transport equipment 13.0 1636. Furniture; manufacturing not elsewhere classified 11.7 15.8Construction45. Construction 13.7 16.3Trade50. Sale, maintenance and repair of motor vehicles andmotorcycles; retail sale of automotive fuel 13.4 10.251. Wholesale trade and commission trade, except of motor vehicles 14.9 10.652. Retail trade, except of motor vehicles and motorcycles; repair ofpersonal and household goods 15.2 14.4Hotels and restaurants55. Hotels and restaurants 14.8 11.8Transportation60. Land transport; transport via pipelines 16.0 16.861. Water transport 11.9 11.262. Air transport 13.5 12.463. Supporting and auxiliary transport activities, and travel agencies 14.5 13.5Services70. Real estate activities 16.0 10.671. Renting of machinery and equipment without operator and ofpersonal and household goods 18.0 12.672. Computer and related services 22.4 21.473. Research and development 17.0 13.174. Other business activities 18.4 19.4Other93. Other services activities 17.0 13The values reported are averaged over 1998 and 1999, for Europe (column 2) and the US (column 3). Thefraction of new firms is calculated as the number of firms 2 or less years old over all firms in this particularindustry. Source: Amadeus database (column 2) and Dun and Bradstreet (column 3)ECBWorking Paper Series No 1078August 200939