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Knowledge and Creative Destruction over the Industry Life Cycle: The Case of the German Automobile Industry

  • UWE CANTNER
  • JENS J. KRÜGER
  • KRISTINA VON RHEIN

The paper investigates how pre-entry experience, post-entry experience and innovative activity affected the survival of German automobile firms over the period 1886-1936. A statistical survival analysis is performed which links instrumental variable estimation with the Cox regression. The main results are that all three knowledge components exert an independent and significantly positive effect on firm survival. Moreover, innovative activity is able to compensate for post-entry experience, in accord with Schumpeterian creative destruction. Copyright (c) The London School of Economics and Political Science 2008.

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Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 76 (2009)
Issue (Month): 301 (02)
Pages: 132-148

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Handle: RePEc:bla:econom:v:76:y:2009:i:301:p:132-148
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  1. Richard C. Levin & Alvin K. Klevorick & Richard R. Nelson & Sidney G. Winter, 1988. "Appropriating the Returns from Industrial R&D," Cowles Foundation Discussion Papers 862, Cowles Foundation for Research in Economics, Yale University.
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  10. Klepper, Steven & Simons, Kenneth L., 2005. "Industry shakeouts and technological change," International Journal of Industrial Organization, Elsevier, vol. 23(1-2), pages 23-43, February.
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  14. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2004. "Firm Survival in the German Automobile Industry," Jenaer Schriften zur Wirtschaftswissenschaft 08/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  15. Kiefer, Nicholas M, 1988. "Economic Duration Data and Hazard Functions," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 646-79, June.
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