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Mayflies and long-distance runners: The effects of new business formation on industry growth

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  • Falck, Oliver

Abstract

This paper analyzes the effects of new business formation on industry growth. Dynamic panel techniques are used to test two hypotheses. First, does hit-andrun competition secure efficiency in an industry? Second, do innovative startups lead to amplified innovations by diminishing the knowledge filter? The results illustrate how new businesses can be viewed as either mayflies or longdistance runners. --

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Bibliographic Info

Paper provided by University of Passau, Faculty of Business and Economics in its series Passauer Diskussionspapiere, Volkswirtschaftliche Reihe with number V-39-05.

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Date of creation: 2005
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Handle: RePEc:zbw:upadvr:v3905

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Postal: 94030 Passau
Phone: ++49 (0)851 509 0
Fax: ++49 (0)851 509 1005
Web page: http://www.wiwi.uni-passau.de/index.php?L=2
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Keywords: Entry and exit; growth; hit-and-run competition; innovation; dynamic panel techniques;

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References

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  1. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(367), pages 630-53, September.
  2. Zoltan J. Acs & Bo Carlsson & Pontus Braunerhjelm & David B. Audretsch, . "The Missing Link," Papers on Entrepreneurship, Growth and Public Policy, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group 2005-08, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  3. Michael Fritsch & Pamela Mueller, 2004. "The Effects of New Business Formation on Regional Development over Time," Papers on Entrepreneurship, Growth and Public Policy, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group 2004-36, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  4. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  5. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262011468, December.
  6. Kappler, Marcus, 2004. "Determination of Potential Growth Using Panel Techniques," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 04-69, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  7. Pedroni, Peter, 1999. " Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 653-70, Special I.
  8. Agarwal, Rajshree, 1998. "Evolutionary trends of industry variables," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 16(4), pages 511-525, July.
  9. Pamela Mueller, 2005. "Exploring the Knowledge Filter - How Entrepreneurship and University-Industry Relations Drive Economic Growth," ERSA conference papers ersa05p610, European Regional Science Association.
  10. Michael Fritsch & Pamela Mueller, 2004. "Effects of New Business Formation on Regional Development over Time," Regional Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 38(8), pages 961-975.
  11. Geroski, P. A., 1995. "What do we know about entry?," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 13(4), pages 421-440, December.
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Citations

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Cited by:
  1. Michael Fritsch & Florian Noseleit, 2013. "Start-ups, long- and short-term survivors, and their contribution to employment growth," Journal of Evolutionary Economics, Springer, Springer, vol. 23(4), pages 719-733, September.
  2. Michael Fritsch & Florian Noseleit, 2011. "Start-ups, Long- and Short-Term Survivors and their Effect on Regional Employment Growth," ERSA conference papers ersa10p1102, European Regional Science Association.
  3. Yvonne Schindele & Michael Fritsch & Florian Noseleit, 2011. "Micro-level Evidence on the Survival of German Manufacturing Industries - A Multidimensional Analysis (refereed paper)," ERSA conference papers ersa10p549, European Regional Science Association.
  4. Fritsch, Michael, 2013. "New Business Formation and Regional Development: A Survey and Assessment of the Evidence," Foundations and Trends(R) in Entrepreneurship, now publishers, now publishers, vol. 9(3), pages 249-364, February.
  5. repec:iab:iabzaf:v:41:i:1:p:55-69 is not listed on IDEAS
  6. Michael Fritsch, 2008. "How does new business formation affect regional development? Introduction to the special issue," Small Business Economics, Springer, Springer, vol. 30(1), pages 1-14, January.
  7. Michael Fritsch & Alexandra Schroeter, 2011. "Why does the effect of new business formation differ across regions?," Small Business Economics, Springer, Springer, vol. 36(4), pages 383-400, May.
  8. Michael Fritsch, 2011. "The effect of new business formation on regional development - Empirical evidence, interpretation, and avenues for further research," Jena Economic Research Papers, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics 2011-006, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  9. Bos Jaap W.B. & Stam Erik, 2011. "Gazelles, Industry Growth and Structural Change," Research Memorandum 018, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  10. Fritsch, Michael, 2008. "Die Arbeitsplatzeffekte von Gründungen : ein Überblick über den Stand der Forschung (The employment effects of new businesses : a survey of the current state of research)," Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 41(1), pages 55-69.
  11. Michael Fritsch & Florian Noseleit, 2013. "Indirect employment effects of new business formation across regions: The role of local market conditions," Papers in Regional Science, Wiley Blackwell, vol. 92(2), pages 361-382, 06.
  12. Andersson, Martin & Baltzopoulos, Apostolos & Lööf, Hans, 2010. "R&D Strategies and Entrepreneurial Spawning," Working Paper Series in Economics and Institutions of Innovation, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies 228, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.

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