The scarring effect of recessions

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Establishment exits in Germany: the role of size and age (2012, background): “Pointing to a ‘‘scarring effect of recessions,’’ Ouyang (2009) argued that in economic downturns young firms which have less accurate information on their true productivity than mature firms may exit due to declining profitability although they are potentially highly productive.”
The Dynamics of Employment Growth: New Evidence from 18 Countries (2014, background): “As highlighted in more recent theoretical and empirical contributions, recessions might not be cleansing processes but they might rather produce long-term scarring effects, especially in the presence of distortions (Barlevy, 2002 and Ouyang, 2009; Caballero and Hammour, 2005).”
The Cyclicality of Productivity Dispersion (2011, unknown): “43 The construction of the ouptut variable improves on previous research in two ways: First, some work has ignored the role of inventories when constructing output variables (exceptions are Hyowook Chiang’s measure or Petrin et al. (2011)).”
Impact of operational and marketing capabilities on firm performance: Evidence from economic growth and downturns (2014, background): “In contrast, other economists like Ouyang (2009) have shown that in addition to eliminating inefficient firms, recessions also eliminate superior firms or firms with great future potential if these firms lack the resources and skills necessary to survive adverse economic conditions.”