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Survival Of Spanish Innovative Firms: Effects Of Innovation


  • Baltar Salgado, Evangelina
  • Fernández López, Sara
  • Vivel Búa, Milagros
  • Neira Gómez, Isabel


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.

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  • Baltar Salgado, Evangelina & Fernández López, Sara & Vivel Búa, Milagros & Neira Gómez, Isabel, 2012. "Survival Of Spanish Innovative Firms: Effects Of Innovation," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 21(2).
  • Handle: RePEc:sdo:regaec:v:21:y:2012:i:2_5

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    References listed on IDEAS

    1. Verónica Amarante & Ivone Perazzo, 2009. "Crecimiento económico y pobreza en Uruguay, 1991-2006," REVISTA CUADERNOS DE ECONOMÍA, UN - RCE - CID, December.
    2. Cornia, Giovanni Andrea, 2012. "Inequality Trends and their Determinants: Latin America over 1990-2010," WIDER Working Paper Series 009, World Institute for Development Economic Research (UNU-WIDER).
    3. Verónica Amarante & Andrés Dean & Rodrigo Arím, 2013. "Unemployment Insurance Design and Its Effects: Evidence for Uruguay," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, June.
    4. Bruno Martorano, 2014. "The Impact of Uruguay's 2007 Tax Reform on Equity and Efficiency," Development Policy Review, Overseas Development Institute, vol. 32(6), pages 701-714, November.
    5. Arim, Rodrigo & Cruces, Guillermo Antonio & Vigorito, Andrea, 2009. "Programas sociales y transferencias de ingresos en Uruguay: los beneficios no contributivos y las alternativas para su extensión," Políticas Sociales 146, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    6. Amarante, Veronica & Vigorito, Andrea, 2011. "Uruguayâ..s Income Inequality and Political Regimes during 1981â..2010," WIDER Working Paper Series 094, World Institute for Development Economic Research (UNU-WIDER).
    7. Bucheli, Marisa & Furtado, Magdalena, 2005. "Uruguay 1998-2002: la distribución del ingreso en la crisis," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    8. repec:unu:wpaper:wp2012-09 is not listed on IDEAS
    9. David De Ferranti & Guillermo E. Perry & Francisco H.G. Ferreira & Michael Walton, 2004. "Inequality in Latin America : Breaking with History?," World Bank Publications, The World Bank, number 15009.
    10. Jorge Notaro, 2005. "Employment and unemployment in Uruguay 1984-2005," Documentos de Trabajo (working papers) 05-02, Instituto de Economía - IECON.
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    Business failure; Innovation; Logit;


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