Innovation, Technological Conditions and New Firm Survival
AbstractHigh neo-natal mortality is one of the most salient ‘facts’ about firm performance in the industrial organization literature. We model firm survival and examine the relative influence of firm, industry and macroeconomic factors on survival for new vis-à-vis incumbent firms. In particular, we focus on how the intensity of innovation in each industry affects firm survival. Our results imply that while new firms, compared with incumbent firms, thrive in risky and innovative industries, they are also more susceptible to business cycle effects such as changes in the rate of growth of aggregate demand, interest rates and the availability of equity finance. JEL Classification: L11, F13, 034
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Bibliographic InfoPaper provided by Melbourne Institute of Applied Economic and Social Research, The University of Melbourne in its series Melbourne Institute Working Paper Series with number wp2006n26.
Length: 25 pages
Date of creation: Nov 2006
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parallel imports; vertical control; intellectual property;
Other versions of this item:
- Paul H. Jensen & Elizabeth Webster & Hielke Buddelmeyer, 2008. "Innovation, Technological Conditions and New Firm Survival," The Economic Record, The Economic Society of Australia, vol. 84(267), pages 434-448, December.
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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