Survival Of Spanish Innovative Firms: Effects Of Innovation
This paper analyzes the determinants of business failure through a binomial logistic model for a sample of 223 Spanish innovative companies and the year 2006. The results show that profitability, guarantees, efficiency and age of firms negatively influence the probability of failure. Innovation also exerts an indirect effect on the probability of bankruptcy through profitability.
Volume (Year): 21 (2012)
Issue (Month): 2 ()
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