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The “Liability of Newness” in the Food/Agribusiness Sector

Author

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  • Johnson, Aaron J.
  • Dibrell, Clay
  • Inman, Ruth
  • Holcomb, Rodney B.

Abstract

“Liability of Newness” reflects the reality that only half of new businesses survive the first five years and less than one-third survive beyond 10 years. This study is designed to help new businesses—and assist organizations (e.g. universities, nonprofits) —address this liability of newness and achieve “legitimacy” by exploring the connection between organizational legitimacy and firm performance. A survey of food businesses in the Western United States was performed to examine legitimacy strategies and legitimacy forms. This study offers a first-ever quantified look at legitimacy and its impact and, as such, offers some answers and questions for future consideration.

Suggested Citation

  • Johnson, Aaron J. & Dibrell, Clay & Inman, Ruth & Holcomb, Rodney B., 2018. "The “Liability of Newness” in the Food/Agribusiness Sector," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 36(2).
    • Handle: RePEc:ags:jloagb:302481
    DOI: 10.22004/ag.econ.302481
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    Keywords

    Agribusiness; Agribusiness;

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