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The New Industrial Organization and Small Business

Author

Listed:
  • Kwoka Jr., J.E.
  • White, L.J.

Abstract

The small business sector is an important part of the American landscape, in both absolute and relative terms. Despite its absolute growth, however, the sector accounts for a diminishing share of private sector activity. But its importance, and changes in importance, vary across industrial sectors of the economy. Drawing on the theoretical and empirical insights developed in recent books by John Sutton, we suggest that the presence or absence of endogenous strategic behaviors of the larger firms with respect to advertising, promotion, researh and development, and other sunk cost expenditures may well play an important role in explaining the differing levels of small business importance, both cross-sectionally and over time. We conclude the paper with suggestions for research in directions that could shed further light on these ideas.

Suggested Citation

  • Kwoka Jr., J.E. & White, L.J., 2000. "The New Industrial Organization and Small Business," New York University, Leonard N. Stern School Finance Department Working Paper Seires ec-00-03, New York University, Leonard N. Stern School of Business-.
  • Handle: RePEc:fth:nystfi:ec-00-03
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    Cited by:

    1. Hinson, Roger A. & Sinoha, Ramona & Reaves, Dixie Watts, 2006. "Industry Concentration Impacts on Business Strategies Used by Small Produce Wholesalers," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35291, Southern Agricultural Economics Association.
    2. Joost van Acht & Joop Stam & Roy Thurik & Ingrid Verheul, 2004. "Business Ownership and Unemployment in Japan," Tinbergen Institute Discussion Papers 04-036/3, Tinbergen Institute.
    3. Maryanchyk Ivan, "undated". "Market Structure and Profitability in a Transition Economy: Ukrainian Case," EERC Working Paper Series 03-06e, EERC Research Network, Russia and CIS.
    4. David Audretsch & Roy Thurik, 2004. "A Model of the Entrepreneurial Economy," Papers on Entrepreneurship, Growth and Public Policy 2004-12, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    5. Rui Baptista & Roy Thurik, 2004. "The Relationship between Entrepreneurship and Unemployment: is Portugal an Outlier?," Papers on Entrepreneurship, Growth and Public Policy 2004-40, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    6. Ioannis Kessides & Li Tang, 2010. "Sunk Costs, Market Contestability, and the Size Distribution of Firms," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 37(3), pages 215-236, November.
    7. Lawrence J. White, 2002. "Trends in Aggregate Concentration in the United States," Journal of Economic Perspectives, American Economic Association, vol. 16(4), pages 137-160, Fall.

    More about this item

    Keywords

    INDUSTRIAL ORGANIZATION ; BUSINESS ORGANIZATION ; SIZE OF ENTERPRISE;

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • D20 - Microeconomics - - Production and Organizations - - - General

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