Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry
AbstractThis paper studies 40 years of evolution in the German laser industry to test the generality of evolutionary patterns observed in the U.S. laser industry. Key characteristics found in the U.S. industry are also present in Germany. There is sustained entry into the industry, and neither a shakeout nor first-mover advantages of early entrants are observed. A survival analysis finds that, similar to the U.S. industry, laser firm spin-offs have been systematically more successful than academic startups. Differences in survival and determinants of the spin-off process are traced for alternative kinds of spin-offs, including firms started by serial entrepreneurs.
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Bibliographic InfoArticle provided by Springer in its journal Review of Industrial Organization.
Volume (Year): 30 (2007)
Issue (Month): 3 (May)
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Web page: http://www.springerlink.com/link.asp?id=100336
Entrepreneurship; Industry life cycle; Integrating distributors; Spin-offs; Submarkets; L10; L26; M13;
Other versions of this item:
- Guido Buenstorf, 2006. "Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry," Papers on Economics and Evolution 2005-20, Max Planck Institute of Economics, Evolutionary Economics Group.
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
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