The CarrollSwaminathan Brewery FIVE Data - Dartmouth...

TheCarrollSwaminathanBreweryFIVEData

by

GlennR.Carroll

LaurenceW.LaneProfessorofOrganizationsGraduateSchoolofBusiness

StanfordUniversity

AnandSwaminathan

GoizuetaChairandProfessorofOrganizationandManagementGoizuetaBusinessSchool

EmoryUniversity

©2009

Carroll‐SwaminathanBreweryData2

Copyright©2009GlennCarrollandAnandSwaminathan FIVEProjectDocumentation

Contents

1.ConditionsofUse ........................................................................................................... 3 2.DataSetAuthors ............................................................................................................ 4 3.DataSetSummary.......................................................................................................... 4 4.Author’sResearchUsingThisDataSet .......................................................................... 5 5.AdditionalReferences.................................................................................................... 5 6.DataSetSources ............................................................................................................ 6 7.DataDescription ............................................................................................................ 6 8.Tables ........................................................................................................................... 11 8.1.DescriptiveStatistics,File1:CarrollSwaminathantimebrewFIVEdata .................. 11 8.2.DescriptiveStatistics,File2:CarrollSwaminathanexpbrewFIVEdata.................... 12

9.VariableListandDefinitions:File1:CarrollSwaminathantimebrewFIVEdata............. 13 9.1.YearofObservation .............................................................................................. 13 9.2.OtherVariables ..................................................................................................... 13

10.VariableListandDefinitions:File2:CarrollSwaminathanexpbrewFIVEdata ............ 15 10.1.YearofObservation ............................................................................................ 15 10.2.FirmIdentifiers.................................................................................................... 16 10.3.Entry/ExitVariables............................................................................................. 17 10.4.OtherVariables ................................................................................................... 18



1.ConditionsofUse ThedatasetsdescribedinthisdocumentarepartoftheFIVEProjectonFirmandIndustry Evolution and Entrepreneurship, organized by Constance Helfat (TuckSchool of Business at Dartmouth) and Steven Klepper (Carnegie‐MellonUniversity).Ifyoudownloadorotherwiseobtainanyofthedatasetsdescribedin thisdocument,orobtainmodifiedversionsof thesedata sets, youagree toabidebytheconditionsofusesetforthhere.TheorganizersoftheFIVEProject,ConstanceHelfatandStevenKlepper,arenotresponsibleforthecontentofanyoftheFIVEProjectdatasets.TheFIVEProjectorganizers and the FIVE Project data set authors make no representations orwarranties of any kind concerning anyof the FIVE Project data, includingwithregardtotheabsenceorpresenceoferrors.AllFIVEProjectdatasetsareprotectedbycopyright.Thecopyrightholders foreachdatasetareindicatedonthefirstpageofthedocumentationforeachdataset. Permission is granted to reproduce FIVE Project data for non‐profiteducationalandresearchuseonly.RequeststoreproduceFIVEProjectdataforotheruses shouldbeaddressed to:ProfessorConstanceHelfat,TuckSchoolofBusinessatDartmouth,Hanover,NH03755,[email protected] document describes the Carroll‐Swaminathan Brewery FIVE Data, whichshouldbereferredtobythisname inanyderivativeworks. Inanywrittenandpublishedwork,usersofthesedatashouldcitethisdocument,oneofthedatasetauthors’originalarticles(eitherCarrollandSwaminathan,1991orCarrollandSwaminathan,1992),theprimarysourceofthedata(Bull,etal,1984),andtheFIVEProject:DataOverview(Helfat&Klepper,2007).Youmaycreateanewdata setbymodifyingaFIVEProjectdata set, includingbutnotlimitedtoaddingorremovingdataormergingdatafromdifferentFIVEProject data sets. If you utilize any FIVE Project data to create new data sets,withinsixyears fromthedate thatyouobtain theFIVEProjectdata,youmustprovide the FIVE Projectwith a copy of yourmodified data set by contacting:ConstanceHelfat,[email protected] written documents or statistical estimates that use FIVE Project data,includingbutnot limitedtoworkingpapersandpublications,mustbereportedto:ConstanceHelfat,[email protected](specifiedbytheauthorofthisdocument):If you supplement the Carroll‐Swaminathan Brewery FIVE Data, you mustrename that variant of the original data with Carroll‐Swaminathan appearing



firstinthelistofdatasetauthors,alongwiththewordFIVE.Forexample,ifJoeCampusaddedproductperformancecharacteristics,thedatasetwouldbecalledthe “Carroll‐Swaminathan‐Campus Brewery FIVE Data.” If you merge two ormoreFIVEdatasets,thenewnameofthedatasetmustincludethenamesofalloftheoriginaldatasetauthorsandthewordFIVE.

2.DataSetAuthorsGlennR.CarrollLaurenceW.LaneProfessorofOrganizationsGraduateSchoolofBusinessStanfordUniversityAnandSwaminathanGoizuetaChairandProfessorofOrganizationandManagementGoizuetaBusinessSchoolEmoryUniversity

3.DataSetSummaryThis report documents a public‐use data set on the life histories of all knownAmerican breweries operating from 1633 to late 1988. The data were codedfrom a variety of sources, including especially Bull et al.’s (1984) AmericanBreweries. Thedata collectioneffortdescribedherewas supported inpartbytheInstituteofIndustrialRelations,U.C.,Berkeley,andtheCenterforResearchinManagement,U.C.,Berkeley.File1:IndustryDataFilename:Carroll‐Swaminathan_timebrew_FIVEdataThis data set includes annual time‐series data on environmental and industryvariables. This file contains one observation per year. Each record contains 54variablesitemizedinSection9below.Thefilecontains356records,oneeachfortheyears1633to1988.File2:FirmDataFilename:Carroll‐Swaminathan_expbrew_FIVEdataThisdatasetincludesthelifehistoriesofthepopulationofU.S.breweriesfrom1633to1988.Thisfilecontainsoneobservationperbrewingfirmforeachyearof itsexistence.Each recordcontains thirteenvariables, itemized inSection10below. The file contains 124,064 records, representing the firm‐years of 7667brewingfirms.



4.Author’sResearchUsingThisDataSetandExtensionsThereof

CarrollGandHannanM.1989.Densitydelayintheevolutionoforganizationalpopulation.AdministrativeScienceQuarterly34:411‐431.

CarrollGandSwaminathanA.1991. DensitydependentorganizationalevolutionintheAmericanbrewingindustryfrom1633to1988.ActaSociologica34:155‐175.

CarrollGandSwaminathanA.1992.TheorganizationalecologyofstrategicgroupsintheAmericanbrewingindustryfrom1975to1990.Industrial&CorporateChange1:65‐99.

CarrollG.,andSwaminathanA.2000.Whythemicrobrewerymovement?OrganizationaldynamicsofresourcepartitioningintheU.S.brewingindustry.AmericanJournalofSociology106:715‐762.

CarrollG,PreisendorferP,SwaminathanA,andWiedenmayerG.1993.Breweryandbrauerei:theorganizationalecologyofbrewing.OrganizationStudies14:155‐188.

CarrollG.,andWade,J.B.1991.DensitydependenceintheorganizationalevolutionoftheAmericanbrewingindustryacrosslevelsofanalysis.SocialScienceResearch20:271‐302.

Swaminathan,A.1996.Environmentalconditionsatfoundingandorganizationalmortality:Atrial‐by‐firemodel.AcademyofManagementJournal39:1350‐1377.

Swaminathan,A.1998.Entryintonewmarketsegmentsinmatureindustries:EndogenousandexogenoussegmentationintheU.S.brewingindustry.StrategicManagementJournal19:389‐404.

Wade,J.B.,Swaminathan,A.,andSaxon,M.S.1998.NormativeandresourceflowconsequencesoflocalregulationsintheAmericanbrewingindustry,1845‐1918.AdministrativeScienceQuarterly43:905‐935.

5.AdditionalReferencesBA.Variousyears.BrewersAlmanac.Washington,DC:U.S.Brewers

Association.BullD,FriedrichMandGottschalkR.1984.AmericanBreweries.TrumballCT:

Bullworks.BCD.Variousyears.BusinessConditionsDigest.Washington,D.C.:Department

ofCommerce,BureauofEconomicAnalysis.CM.Variousyears.CensusofManufactures.Washington,D.C.:Bureauofthe

Census.DavidPandSolarP.1977.“Abicentenarycontributiontothehistoryofthecost

oflivinginAmerica,”ResearchinEconomicHistory2:1‐80.ERP.1988.EconomicReportofthePresident.Washington,D.C.:U.S.

GovernmentPrintingOffice.



FriedrichMandBullD.1976.TheRegisterofUnitedStatesBreweries1876‐1976.VolIandII.TrumbullCT:Bullworks.

Helfat,CE&Klepper,S.2007.FIVEProject:DataOverview.http://papers.ssrn.com/paper=1028022.

HS.1975.HistoricalStatisticsoftheUnitedStatesColonialTimesto1970,Part1and2.WashingtonD.C.:U.S.DepartmentofCommerce.

InstituteofFermentationandBrewingStudies.Variousyears.MicrobrewersResourceHandbook.BoulderCO:InstituteofFermentationandBrewingStudies.

ModernBreweryAge.Variousyears.ModernBreweryAgeBluebook.NorwalkCT:ModernBreweryAge.

SA.Variousyears.StatisticalAbstractoftheUnitedStates.Washington,D.C.:BureauoftheCensus.

TremblyVandTremblayC.1988.“Thedevelopmentofacquisition:evidencefromtheU.S.brewingindustry.”JournalofIndustrialEconomics37:21‐46.

TumaN.1981.InvokingRATE.MenloParkCA:SRIInternational.

6.DataSetSources Bull, Friedrich and Gottschalk’s (1984) American Breweries constitutes theprimary source of data. Bull et al. claim to have recorded information on allAmericanbeerproducers, adefinitionwhichexcludescompanies that sellbeerproducedundercontractbyothers(so‐calledcontractbrewers).

7.DataDescriptionThe preface to the Bull et al. volume remarks that “a tremendous amount ofresearchhasgone intocompilingAmericanBreweries. Experts invariousareasof the country have contributed their knowledge, which was coordinated bylong‐time brewery historian Robert Gottschalk” (p. 3). The data entries aredescribedas follows: “Ineach listing,wehaveattemptedto find the foundingcompanynameandaddress.Thefirstlistingundereachnumericalentryreflectsthefoundingyearafterthename.Thisisfollowedbytheyearthecompanywentoutofbusinessorchangednameoraddress”(p.3).SeveralentriesinBulletal.(1984)werechangedinthecodingprocessbecauseoneofitsauthorsindicatedto us that new information had been uncovered and the printed volume hadinadvertentlyomittedsomebreweries(Gottschalk,personalcommunication).BecausethelistingsintheBulletal.volumepertaintoplants(breweries)ratherthan to firms,weaggregated thehistories forallplantsbelonging to thesamefirm. That is, the data now record firm‐level event histories on foundings andclosures.Wealsoextendedthecoverageuptotheautumnof1988.Thesetasks



wereaccomplishedwiththeaidoftheModernBreweryAgeBluebooks(ModernBrewery Age, various years), Tremblay and Tremblay (1988) and theMicrobrewery Resource Handbooks (Institute of Fermentation and BrewingStudies, various years). We also talked with individual brewers whenappropriate.Figure1showsthenumberoffirmsintheAmericanbrewingindustryfrom1633to1988.Thecommonorganizationalpopulationpatternof slow initial growth,thenrapidgrowth(toapeakofabout2800),followedbyverysharpdecline, isevident.ThedeclinephaseisinterruptedbytheFederalProhibitionfrom1920to1933.

Figure 2 shows a typical page from the Bull et al. volume. A number ofassumptionsweremadeabout theseentriesandthesearereflected in the fileavailable foranalysis.Wealsotransformedthedata incertainwaystomake itamenabletoanalysis.Thissectionliststhesetransformations.Wedeletedallcaseswithextremelyindefinitedatesoffoundingandclosure.Forexample, someentries inBull et al. listeddatesas “1870’s”. These caseswereexcludedentirely.We have ignored the intermediate “stages” for each firm in constructing anevent history file. For example, in Figure 2, the four stages AL 1a to 1d aretreatedasasinglefirm,onethatisfoundedin1891anddiesin1907.



Figure2:Alabama:ListingofPagefrom“AmericanBreweries”



Ifthestartingyearforthefirststageismissingoriscodedasa“?”intheoriginalrecord,wehaveassumedtheendingyearofthatparticularstageasthestartingyear,e.g.,inFigure2,AK5KlondikeBreweryisassumedtohavebeenfoundedin1916.Asimilarassumptionwasmadetotreatmissingvaluesfortheendingyearofthelaststage,i.e.,ittakesthevalueofthestartingyearofthelaststage.Thedata in the sourceare recordedat theplant level.Wehave includedonlyonecaseperfirm,i.e.,multi‐plantoperationshavebeenexcluded.Wehavetriedtokeeptheoriginalbreweryasthefocalrecord.Wehavecoded3typesofendingevents:

• Dissolution:Indicatesthedisappearanceandclosureofabrewingfirm.• Acquisition:Forthepost‐WorldWarIIperiod,thishasbeencodedfrom

TremblayandTremblay(1988),andfortheearlierperiod,wehadtorelyoninference,i.e.,weassumedthatafirmwasacquiredattheendoftheprevious stagewhen thedataentry for thenext stage identified it asabranchoperation.

• Suspension:Thiseventreferstosuspensionofoperations.Forexample,in Figure 2, AL 8c suspended operations in 1915. Most, but not all,suspensions occurred as a result of prohibition either at the state ornationallevel.

Wealsocodedtwotypesoffoundingevents,newfoundingsand“restarts.”Forexample,inFigure2,AL8ato8cistreatedasafirmwithafoundingdate1890and AL 8d is treated as another firm with a founding date 1934. The secondfoundingisclassifiedasarestart.



Forexample,inFigure2,AL8wouldbecodedasfollows:

ybirth tf sf oybirth nrestart lastgap cumgap1890 1915 3 1890 0 0 01934 1934 1 1890 1 19 19

ybirth Yearofbirthtf Yearinwhichendingeventoccurs(timeoffinish)sf Endingevent(stateatfinish): 1 Dissolution 2 Acquisition 3 Suspension 0 Alivein1988oybirth Originalyearofbirth(yearoforiginalfounding)nrestart 1to6forthefirsttothesixthrestartforanyparticular

firmlastgap Numberofyearsbetweentheprevioussuspensionand

thetimeofrestartcumgap Numberofyearslostcumulativelyasaresultof

suspensionsWe have deleted all years of state and national prohibition. We have alsoconstructed two dummy variables, begpro for any year in which a spell ofprohibitionwas imposed and endpro for the first year after the repeal of anyprohibition. Prohibition years differ from state to state as can be found inFriedrichandBull(1976).Afterhavingcompleted theabove‐mentionedmanipulations,weexpanded theeventhistoriesintooneyearspells.

CarrollSwaminathanBreweryData11


8.Tables

8.1.DescriptiveStatistics,File1:CarrollSwaminathan_timebrew_FIVEdataVariable Obs Mean Std.Dev. Min Maxyear 356 1810.5 102.9126 1633 1988totres 197 80757.85 70397.71 3929 241078totrur 197 34996.77 19615.01 3728 63211forborn 137 10015.47 3554.828 2245 17696gerborn 137 1551.044 640.4694 584 2785ukborn 137 937.3504 260.5424 379 1403landarea 197 2640.924 770.5409 868 3541gerimm 167 42.10479 47.45413 .1 250.6ukimm 167 29.96527 26.54718 .9 108.7ireimm 167 28.39281 35.5282 0 221.3ireborn 137 1046.35 613.9969 172 1872malepop 167 46796.89 33283.51 4897 117360catholic 95 27051.85 14486.47 8277 52655protest 35 68203.63 7230.462 52162 79287relmemb 96 75387.66 39515.63 21699 142926gnp 118 306.1305 308.3948 23.1 1145.9unemp 97 7.110309 5.101031 1.2 24.9failrate 119 79.20168 39.37361 4 242busform 39 107.4385 14.61608 87.9 138.3cpifood 34 157.8471 94.6625 68.9 360.1recess 133 .3684211 .4842001 0 1trough 133 .2330827 .4243929 0 1peak 133 .2255639 .4195333 0 1deflate1 82 56.57195 31.54329 21.7 135.2deflate2 50 42.418 29.12711 11.2 114.1prohvote 21 130345.7 88786.03 10305 264133popvote 3 65552 45961.45 29100 117183wdrawal 122 6.03e+07 5.25e+07 1765827 1.96e+08undefined 108 6.37e+07 4.69e+07 1765827 1.78e+08fedtax 109 4.529358 3.641995 .6 9wpibeer 22 134.4636 38.43366 97.3 210.5rpibeer 22 139.9045 44.72997 95.1 230.4totemp 44 59724.16 15386.07 22872 84849totpay 44 493429.1 318559.2 38815 1307900prodemp 45 42430.4 11229.76 18551 63668



Variable Obs Mean Std.Dev. Min Maxmanhrs 35 85414.03 22512.77 57500 142001wages 45 321016.6 221145.8 25776 883500valueadd 45 1436429 1026764 67034 4534800costofml 45 1631870 1780213 51598 6669700valuship 45 3059384 2771118 122050 1.12e+07newcapex 28 259038.4 210806.3 60028 665700totest 18 621.1667 481.0527 109 1530gt20est 7 159.8571 70.02007 74 266firm4 9 39.66667 21.62175 11 78firm8 9 54.55556 24.79471 17 94firm20 8 78.375 19.46379 44 99firm50 6 96.33333 4.589844 88 100gt21pop 87 92046.97 34138.77 40879 167087totimm 167 317.4731 263.7756 6.4 1285.3allcpi 201 169.0249 93.70258 89 589unskwage 201 438.9353 762.3043 31 4059nbirth 356 21.53652 88.15614 0 1398ndeath 356 21.08146 64.13855 0 615dens 356 348.4944 636.9728 1 2798

8.2.DescriptiveStatistics,File2:

CarrollSwaminathan_expbrew_FIVEdataDistributionofbrewingfirmsbyoriginanddestinationstates.OriginState

Nrestart Frequency Percent CumulativeFrequency

CumulativePercent

0 6318 82.41 6318 82.411 1111 14.49 7429 96.902 193 2.52 7622 99.413 35 0.46 7657 99.874 6 0.08 7663 99.955 2 0.03 7665 99.976 2 0.03 7667 100.00



DestinationState

Sfend Frequency Percent CumulativeFrequency

CumulativePercent

0(Alive) 162 2.11 162 2.111(Dissolved) 5911 77.10 6073 79.212(Acquired) 245 3.20 6318 82.41

3(Suspended) 1349 17.59 7667 100.00

9.VariableListandDefinitions:

File1:CarrollSwaminathan_timebrew_FIVEdataThis file contains a record for each year from 1633h to 1988. It contains 54variables.Missingvaluesarecodedasblanksforallvariables.

9.1.YearofObservationYear[Variablename:year]:Calendaryear.Sources:HS,SA.

9.2.OtherVariablesInorderofappearance,theadditionalvariablesare:

VariableName

Description Sources

totres U.S.ResidentPopulationin000’s HS,SAtotrur U.S.RuralPopulationin000’s ““forborn ForeignBornPopulationin000’s ““gerborn GermanBornPopulationin000’s ““ukborn U.K.BornPopulationin000’s ““landarea U.S.LandArea ““gerimm GermanImmigrantsin000’s ““ukimm U.K.Immigrantsin000’s ““ireimm IrishImmigrantsin000’s ““



VariableName

Description Sources

ireborn IrishBornPopulationin000’s ““malepop U.S.MalePopulationin000’s ““catholic RomanCatholicPopulationin000’s ““protest ProtestantPopulationin000’s ““relmemb MembershipinReligiousBodiesin

000’s““

gnp GNPat1958PricesinBillionsof$ ““unemp UnemploymentRateinCivilian.Pop. ““failrate BusinessFailures/10000Firms ““busform IndexofNetBusinessFormation ““cpifood CPI(BLS)ForFoodAwayfromHome ““recess YearsofRecession BCDtrough TroughYearinEconomicCycle “peak PeakYearinEconomicCycle “deflate1 GNPPriceDeflatorBase1958 HS,SAdeflate2 GNPPriceDeflatorBase1982 ERPprohvote ProhibitionPartyVoteCount HS,SApopvote Peoples’PartyVoteCount HS,SAwdrawal Tax‐PaidWithdrawalsinBarrels BA,CMundefined Variabledefinitionunknown fedtax FederalExciseTaxonBeerin

$/Barrel““

wpibeer WholesalePriceIndexforMaltBevs. ““rpibeer RetailPriceIndexforMaltBevs. ““totemp TotalNo.ofAllEmployeesinMalt

Bev.Industry““

totpay TotalPayrollAllEmployeesinMBI($000’s)

““

prodemp NumberofProductionWorkersinMBI

““

manhrs Man‐HoursforProductionWorkers(000’s)

““

wages WagesforProductionWorkers($000)inMBI

““

valueadd ValueAddedbyManufacturers($000)inMBI

““

costofml CostofMaterials($1000)inMBI ““valuship ValueofShipments($1000)inMBI ““newcapex NewCapitalExp.($1000)inMBI ““totest TotalNo.ofEstablishmentsinMBI ““



VariableName

Description Sources

gt20est Establishmentswithmorethan20EmployeesinMBI

““

firm4 4‐FirmConcentrationRatioinMBI CMfirm8 8‐FirmConcentrationRatioinMBI “firm20 20‐FirmConcentrationRatioinMBI “firm50 50‐FirmConcentrationRatioinMBI “gt21pop PopulationGreaterthan21yearsin

000’sHS,SA

totimm ImmigrationfromAllCountriesin000’s

““

allcpi IndexofConsumerPrices DavidandSolarunskwage IndexofMoneyWageRates

UnskilledLabor“

nbirth NumberofBreweryFoundings CarrollSwaminathanexpbrewFIVEdata

ndeath NumberofBreweryFailures “dens ExistingNumberofBreweries “

10.VariableListandDefinitions:

File2:CarrollSwaminathan_expbrew_FIVEdataThisfilecontainsarecordforeachfirm‐yearofabrewery’sexistence.Itcontains13variables.Therearenomissingvalues;theyarealreadyeliminatedfromthefile.10.1.YearofObservationTimeofStart[Variablename:ts]:Historicalyearatwhichthefirm‐yearofobservationbegins.TimeofFinish[Variablename:tf]:Historicalyearatwhichthefirm‐yearofobservationends.



10.2.FirmIdentifiersDataSetFirmID(firmidentifierassignedintheoriginaldataset)[Variablename:cumid]:Thisvariablegivesauniqueidentificationcodecreatedby the data set authors for each brewing firm. (Because the firms are notidentified by name, this data set does not include FIVE Firm IDs.) “Restarting”firmsretaintheirpreviousidentificationnumber.EachfirmIDindicatesthestateinwhichthebrewerywaslocated(accordingtothecodetablethatfollows)andabrewerynumberbystate.

Code State01 Alabama02 Alaska03 Arizona04 Arkansas05 California06 Colorado07 Connecticut08 Delaware09 DistrictofColumbia10 Florida11 Georgia12 Hawaii13 Idaho14 Illinois15 Indiana16 Iowa17 Kansas18 Kentucky19 Louisiana20 Maine21 Maryland22 Massachusetts23 Michigan24 Minnesota25 Missouri26 Montana27 Nebraska28 Nevada



Code State29 NewHampshire30 NewJersey31 NewMexico32 NewYork33 NorthCarolina34 NorthDakota35 Ohio36 Oklahoma37 Oregon38 Pennsylvania39 RhodeIsland40 SouthCarolina41 SouthDakota42 Tennessee43 Texas44 Utah45 Vermont46 Virginia47 Washington48 WestVirginia49 Wisconsin50 Wyoming

10.3.Entry/ExitVariablesOriginalYearofBirth[Variablename:oybirth]:Originalyearofbirthforthefirm(theyearthatthefirmwasoriginallyfounded).YearofBirth[Variablename:ybirth]:Thisvariablegivesthedateatwhichthefirmwaseitherfounded(originalyearofbirth,oybirth)orresumedoperationaftersuspension.RestartedafterSuspension[Variablename:nrestart]:Variablethatindicatesthenumberoftimesthisfirmhasbeensuspendedinpreviousoperations.NumberofYearsofSuspensionforFirmsRestartingOperations[Variable name: lastgap]: Counts only time elapsed between last suspensionandrestarttime.



TotalNumberofYearsofSuspensionforFirmsRestartingOperations[Variablename:cumgap]:Countstimeelapsedinallsuspensionspriortorestarttime.StateatFinish[Variablename:sfend]:Givesmortality‐defineddestinationstateatendoffirm‐yearofobservation(tf).Codedasfollows:

0 Censored(nomortalityevent)1 Deathbydissolution2 Deathbyacquisition3 Deathbysuspension

ApproximateEventHistory[Variablename:appeh]:Dummyvariablethatindicatesfirmsforwhichonlyapproximateeventhistorieswereavailable.Birthanddeathyearswererandomlygeneratedforthedecadesinwhichthefirmswerereportedtobeinexistence.Thedistributionofeventsbytype(nrestartandsfend)islistedintheTablessectionabove.

10.4.OtherVariablesBeginningofProhibitionPeriod[Variablename:begpro]:Dummyvariablethattakesthevalueofonewhentfisayear inwhichastateor federalprohibitionbegins,andzerootherwise.Stateprohibitionsareconsideredonlyforbreweriesoperatinginthestate.EndingofProhibitionPeriod[Variablename:endpro]:Dummyvariablethattakesthevalueofonewhentsisa year in which a state or federal prohibition ends and zero otherwise. Stateprohibitionsareconsideredonlyforbreweriesoperatinginthestate.Dummyfor1874BirthYear[Variablename:dumf1874]:Dummyvariablethattakesthevalueofonewhenybirthequals1874andzerootherwise.

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