IDEAS home Printed from https://ideas.repec.org/a/col/000520/020634.html
   My bibliography  Save this article

Relevancia, evolución y tendencias de la supervivencia empresarial. Una revisión de literatura en finanzas

Author

Listed:
  • Zuluaga Arango, Paula

    (Universidad Autónoma de Manizales)

  • Rincón, Diego Useche

    (Bordeaux School of Economics)

  • RojasBerrio, Sandra Patricia

    (Universidad Nacional de Colombia)

Abstract

El objetivo de este artículo es presentar una revisión de literatura que muestre la relevancia, evolución y tendencias sobre la producción científica relacionada con la supervivencia empresarial identificada en las bases de datos Web of Science y Scopus entre 1973 y 2020. Para los registros obtenidos se realizó un análisis de red apoyado en la teoría de grafos, aplicando herramientas como R, bibliometrix y Gephi que permiten identificar la importancia del tema y construir la evolución teórica de su abordaje usando los algoritmos de la herramienta Tree of Sciencie (TOS), con el cual se identifican documentos seminales, estructurales y tendencias, por medio del análisis de clusterización. Los resultados muestran cuatro subáreas de análisis de la supervivencia: desde el emprendimiento, las estrategias y la influencia de la innovación, las variables que influyen en ella y la tipología de salida en la bolsa de valores. ********************************************************************************************************************************************************************************************* The objective of this article is to present a literature review that shows the relevance, evolution, and trends on scientific production related to business survival identified in the Web of Science and Scopus databases between 1973 and 2020. For the records obtained, a a network analysis based on graph theory, applying tools such as R, bibliometrix and Gephi that allow identifying the importance of the topic and building the theoreticalevolution of its approach using the algorithms of the Tree of Science (TOS) tool, with which seminal, structural documents and trends are identified, through clustering analysis. The results show four subareas of survival analysis: from entrepreneurship, strategies and the influence of innovation, the variables that influence it and the type of exit on the stock market. ********************************************************************************************************************************************************************************************* O objetivo deste artigo é apresentar uma revisao de literatura que mostre a relevancia, evolucao e tendencias da producao científica relacionada a sobrevivencia empresarial identificada nas bases de dados Web of Science e Scopus entre 1973 e 2020. Para os registros obtidos, uma análise de rede com base na teoria dos grafos, aplicando ferramentas como R, bibliometrix e Gephi que permitem identificar a importancia do tema e construir a evolucao teórica de sua abordagem usando os algoritmos da ferramenta Tree of Science (TOS), com os quais documentos seminais, estruturais e tendencias sao identificadas, por meio de análise de agrupamento. Os resultados mostram quatro subáreas de análise de sobrevivencia: desde o empreendedorismo, as estratégias e a influencia da inovacao, as variáveis que a influenciam e o tipo de saída na bolsa.

Suggested Citation

  • Zuluaga Arango, Paula & Rincón, Diego Useche & RojasBerrio, Sandra Patricia, 2023. "Relevancia, evolución y tendencias de la supervivencia empresarial. Una revisión de literatura en finanzas," Revista Tendencias, Universidad de Narino, vol. 24(1), pages 252-278, January.
  • Handle: RePEc:col:000520:020634
    as

    Download full text from publisher

    File URL: https://revistas.udenar.edu.co/index.php/rtend/article/view/7919
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mata, Jose & Portugal, Pedro, 1994. "Life Duration of New Firms," Journal of Industrial Economics, Wiley Blackwell, vol. 42(3), pages 227-245, September.
    2. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    3. Darja Peljhan & Katja Zajc Kejžar & Nina Ponikvar, 2020. "Ownership Structure And Firm Exit Routes," Applied Economics, Taylor & Francis Journals, vol. 52(15), pages 1671-1686, March.
    4. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    5. Eshref Trushin & Mehmet Ugur, 2021. "Intra-industry firm heterogeneity, sub-optimal adaptation and exit hazard: a fitness landscape approach to firm survival and learning," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 30(5), pages 494-515, July.
    6. Diego Useche & Sophie Pommet, 2021. "Where do we go? VC firm heterogeneity and the exit routes of newly listed high-tech firms," Small Business Economics, Springer, vol. 57(3), pages 1339-1359, October.
    7. Del Sarto, Nicola & Isabelle, Diane A. & Di Minin, Alberto, 2020. "The role of accelerators in firm survival: An fsQCA analysis of Italian startups," Technovation, Elsevier, vol. 90.
    8. Enrico Santarelli & Marco Vivarelli, 2007. "Entrepreneurship and the process of firms’ entry, survival and growth," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(3), pages 455-488, June.
    9. Mata, Jose & Portugal, Pedro & Guimaraes, Paulo, 1995. "The survival of new plants: Start-up conditions and post-entry evolution," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 459-481, December.
    10. Mehmet Ugur & Marco Vivarelli, 2021. "Innovation, firm survival and productivity: the state of the art," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 30(5), pages 433-467, July.
    11. Diego Useche, 2015. "Patenting Behaviour and the Survival of Newly Listed European Software Firms," Industry and Innovation, Taylor & Francis Journals, vol. 22(1), pages 37-58, January.
    12. Son Le & Mark Kroll & Bruce Walters, 2017. "TMT Departures and Post‐IPO Outside Director Additions: Implications for Young IPO Firms’ Survival and Performance," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(1), pages 149-169, January.
    13. He, Shan & Li, C. Wei, 2016. "Human Capital, Management Quality, and the Exit Decisions of Entrepreneurial Firms," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 51(4), pages 1269-1295, August.
    14. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    15. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    16. José Mata & Claudia Alves, 2018. "The survival of firms founded by immigrants: Institutional distance between home and host country, and experience in the host country," Strategic Management Journal, Wiley Blackwell, vol. 39(11), pages 2965-2991, November.
    17. Feng, Cong & Patel, Pankaj C. & Xiang, Kexin, 2020. "The well-trodden path: Complementing market and entrepreneurial orientation with a strategic emphasis to influence IPO survival in the United States," Journal of Business Research, Elsevier, vol. 110(C), pages 370-385.
    18. Mohd Irfan & Sarani Saha & Sanjay Kumar Singh, 2018. "A random effects multinomial logit model for the determinants of exit modes," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 45(4), pages 791-809, September.
    19. Tobias Ebert & Thomas Brenner & Udo Brixy, 2019. "New firm survival: the interdependence between regional externalities and innovativeness," Small Business Economics, Springer, vol. 53(1), pages 287-309, June.
    20. Neuhauser, Karyn L. & Thompson, Thomas H., 2016. "Survivability following reverse stock splits: What determines the fate of non-surviving firms?," Journal of Economics and Business, Elsevier, vol. 83(C), pages 1-22.
    21. Geroski, P. A., 1995. "What do we know about entry?," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 421-440, December.
    22. Pedro Duque & Luis-Salvador Cervantes-Cervantes, 2019. "Responsabilidad Social Universitaria: una revisión sistemática y análisis bibliométric," Estudios Gerenciales, Universidad Icesi, vol. 35(153), pages 451-464, December.
    23. Richard A. Bettis & Constance E. Helfat & J. Myles Shaver & Douglas J. Miller & Hsiao-Shan Yang, 2016. "The dynamics of diversification: Market entry and exit by public and private firms," Strategic Management Journal, Wiley Blackwell, vol. 37(11), pages 2323-2345, November.
    24. Nina Ponikvar & Katja Zajc Kejžar & Darja Peljhan, 2018. "The role of financial constraints for alternative firm exit modes," Small Business Economics, Springer, vol. 51(1), pages 85-103, June.
    25. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-670, May.
    26. Demirtas, Gul & Simsir, Serif Aziz, 2016. "The effect of CEO departure on target firms’ post-takeover performance: Evidence from not-delisting target firms," Finance Research Letters, Elsevier, vol. 16(C), pages 55-65.
    27. Gang, KwangWook, 2018. "The impact of pre-entry experiences on entry decisions and firm survival," Technological Forecasting and Social Change, Elsevier, vol. 137(C), pages 249-258.
    28. Hu, Gang & Lin, Ji-Chai & Wong, Owen & Yu, Manning, 2019. "Why have many U.S.-listed Chinese firms announced delisting recently?," Global Finance Journal, Elsevier, vol. 41(C), pages 13-31.
    29. Wennberg, Karl & Delmar, Frédéric & McKelvie, Alexander, 2016. "Variable risk preferences in new firm growth and survival," Journal of Business Venturing, Elsevier, vol. 31(4), pages 408-427.
    30. Sophie Pommet, 2017. "The impact of the quality of VC financing and monitoring on the survival of IPO firms," Post-Print halshs-01656310, HAL.
    31. M. Sinan Goktan & Robert Kieschnick & Rabih Moussawi, 2018. "Corporate Governance and Firm Survival," The Financial Review, Eastern Finance Association, vol. 53(2), pages 209-253, May.
    32. Mehdi Rasouli Ghahroudi & Yasuo Hoshino & Stephen Turnbull, 2018. "Foreign Direct Investment:Ownership Advantages, Firm Specific Factors, Survival and Performance," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 10942, September.
    33. Dev K. Dutta & Vishal K. Gupta & Xiujian Chen, 2016. "A Tale of Three Strategic Orientations: A Moderated-Mediation Framework of the Impact of Entrepreneurial Orientation, Market Orientation, and Learning Orientation on Firm Performance," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 313-348, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kelly Andrea Aguirre & Diego Paredes Cuervo, 2023. "Water Safety and Water Governance: A Scientometric Review," Sustainability, MDPI, vol. 15(9), pages 1-16, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Colombelli, Alessandra & Krafft, Jackie & Vivarelli, Marco, 2016. "New Firms and Post-Entry Performance: The Role of Innovation," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201602, University of Turin.
    2. Alessandra Colombelli & Jackie Krafft & Marco Vivarelli, 2016. "To be born is not enough: the key role of innovative start-ups," Small Business Economics, Springer, vol. 47(2), pages 277-291, August.
    3. Canarella, Giorgio & Miller, Stephen M., 2018. "The determinants of growth in the U.S. information and communication technology (ICT) industry: A firm-level analysis," Economic Modelling, Elsevier, vol. 70(C), pages 259-271.
    4. Alessandro Gambini & Alberto Zazzaro, 2013. "Long-lasting bank relationships and growth of firms," Small Business Economics, Springer, vol. 40(4), pages 977-1007, May.
    5. Bergner, Sören Martin & Bräutigam, Rainer & Evers, Maria Theresia & Spengel, Christoph, 2017. "The use of SME tax incentives in the European Union," ZEW Discussion Papers 17-006, ZEW - Leibniz Centre for European Economic Research.
    6. Antal-Pomázi, Krisztina, 2011. "A finanszírozási források szerepe a kis- és középvállalkozások növekedésében [The role of sources of finance in the growth of small and medium-sized enterprises]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 275-295.
    7. Elena Cefis & Cristina Bettinelli & Alex Coad & Orietta Marsili, 2022. "Understanding firm exit: a systematic literature review," Small Business Economics, Springer, vol. 59(2), pages 423-446, August.
    8. Mita Bhattacharya, 2014. "Business Growth, Size and Age: Evidence from the Business Longitudinal Survey (BLS) Data in Australia," Australian Economic Papers, Wiley Blackwell, vol. 53(3-4), pages 129-138, December.
    9. José Miguel Benavente & Alexander Galetovic & Ricardo Sanhueza, 2005. "La dinámica industrial y el financiamiento de las pyme," Documentos de Trabajo 201, Centro de Economía Aplicada, Universidad de Chile.
    10. Silviano Esteve Pérez & Fabio Pieri & Diego Rodriguez, 2015. "Age and productivity as determinants of firm survival over the product life cycle," Working Papers 1502, Department of Applied Economics II, Universidad de Valencia.
    11. Helena Persson, 2004. "The Survival and Growth of New Establishments in Sweden, 1987-1995," Small Business Economics, Springer, vol. 23(5), pages 423-440, October.
    12. Kim, Sang-Joon & Bae, John & Oh, Hannah, 2019. "Financing strategically: The moderation effect of marketing activities on the bifurcated relationship between debt level and firm valuation of small and medium enterprises," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 663-681.
    13. Daniel Fackler & Claus Schnabel & Joachim Wagner, 2013. "Establishment exits in Germany: the role of size and age," Small Business Economics, Springer, vol. 41(3), pages 683-700, October.
    14. Raquel Ortega-Argilés & Rosina Moreno, 2005. "Firm Competitive Strategies And The Likelihood Of Survival - The Spanish Case," ERSA conference papers ersa05p347, European Regional Science Association.
    15. Agustí Segarra & Maria Callejón, 2002. "New Firms' Survival and Market Turbulence: New Evidence from Spain," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 20(1), pages 1-14, February.
    16. Ornella Wanda Maietta & Fernanda Mazzotta, 2018. "Firm Survival and Innovation: Knowledge Context Matters!," CSEF Working Papers 496, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    17. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
    18. Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Wang, He, 2017. "Do state and foreign ownership affect investment efficiency? Evidence from privatizations," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 408-421.
    19. Vinay Patel, 2015. "Price Discovery in US and Australian Stock and Options Markets," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 27, July-Dece.
    20. Audrey Wen-hsin Hsu & Suz-Jung Huang & Sophia Hsintsai Liu, 2015. "Investment layers, regional environments, and investment efficiency: evidence from FDI in China," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 22(3), pages 291-310, September.

    More about this item

    Keywords

    adquisiciones; finanzas; fusión de empresas; inversión; mercado financiero;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:col:000520:020634. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Universidad de Narino (email available below). General contact details of provider: https://edirc.repec.org/data/fenarco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.