As the amount of regulation continues to increase and private security firms play a more and more vital role in a modern society’s security, policy makers and practitioners acknowledge the need for sound research. Moreover, studying regulation and private security industry dynamics can enable a better alignment of regulation to its objectives, namely to control abusive and corrupt conduct of some private security companies and to improve the professionalism of the industry. Using novel data on the width and the restrictiveness of private security regulation and data on firm birth rate, firm death rate and firm survival rate, an instrumental variable approach is employed in a panel data random effect models, covering the period from 2013 to 2017. As regulation increases, we document a decrease in firm birth rate, firm death rate as well as firm survival rate of recent newcomers. Regarding firm birth rate and death rate, we document a gradually decreasing impact of older regulation. However, while additional regulation negatively affects survival rate, we find no impact of older regulation on company survival. Incumbents clearly gain an advantage from lobbying to increase regulation and consequently raising barriers to entry.

中文翻译：

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法规对私人保安行业动态的影响

随着法规数量的不断增加，以及私人保安公司在现代社会的安全中扮演着越来越重要的角色，决策者和从业人员都承认有必要进行合理的研究。此外，研究法规和私人安全行业动态可以使法规更好地与其目标保持一致，即控制某些私人安全公司的滥用行为和腐败行为，并提高该行业的专业水平。使用关于私人安全监管的宽度和限制的新颖数据以及关于公司出生率，公司死亡率和公司生存率的数据，在面板数据随机效应模型中采用了工具变量方法，涵盖了2013年至2017年的时间。随着法规的提高，我们记录了公司出生率的下降，刚死者的实际死亡率和存活率。关于公司的出生率和死亡率，我们记录了旧法规的影响逐渐减小。但是，尽管其他法规会对生存率产生负面影响，但我们发现旧法规对公司生存率没有影响。任职者显然可以通过游说来加强监管，从而提高准入门槛，从而从中受益。