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Entrepreneurial Spawning and Firm Characteristics

  • Michel A. HABIB

    (University of Zurich, Swiss Finance Institute and CEPR)

  • Ulrich HEGE

    (HEC School of Management Paris)


    (EDHEC Business School)

We analyze the implications of entrepreneurial spawning for a variety of rm characteristics such as size, focus, profitability, and innovativeness. We examine the dynamics of spawning over time. Our model accounts for much of the empirical evidence relating to the relation between spawning and firm characteristics. Firms that have higher patent quality spawn more, as do firms that have higher knowhow. Older firms spawn less, they are more diversified and less profitable. Spawning frequency, focus, and profitability are positively related where spawning is driven by the value of organizational fit; they are negatively related with firm size.

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Paper provided by Swiss Finance Institute in its series Swiss Finance Institute Research Paper Series with number 11-01.

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Length: 36 pages
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Handle: RePEc:chf:rpseri:rp1101
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