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Innovation and the Survival of New Firms Across British Regions

  • Christian Helmers
  • Mark Rogers

This paper analyses the survival of the complete cohort of more than 162,000 limited companies incorporated in Britain in 2001 over the subsequent five-year period.� For this purpose, we estimate firms' hazards of failure and survival functions using nonparametric and semi-parametric techniques.� The paper focuses on two important policy-related issues.� The first is to what extent survival rates vary across regions in Britain.� A second, and related, policy issue concerns innovation.� The data available allows us to look at the intellectual property (IP) activity of all British firms, including that of the 162,000 new firms in 2001.� The results indicate substantial differences in survival rates across regions, and also that IP activity is associated with a higher probability of survival.� These differences across regions, and the importance of IP activity, remain when we condition on a large range of regional, industry and firm-level characteristics shifting firms' hazards of failure.

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File URL: http://www.economics.ox.ac.uk/materials/working_papers/paper416.pdf
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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 416.

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Date of creation: 01 Dec 2008
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Handle: RePEc:oxf:wpaper:416
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  1. Michael Fritsch & Udo Brixy & Oliver Falck, 2006. "The Effect of Industry, Region, and Time on New Business Survival – A Multi-Dimensional Analysis," Review of Industrial Organization, Springer, vol. 28(3), pages 285-306, 05.
  2. Nicholas Bloom & John Van Reenen, 2002. "Patents, Real Options and Firm Performance," Economic Journal, Royal Economic Society, vol. 112(478), pages C97-C116, March.
  3. Klette, Tor Jakob & Kortum, Samuel, 2002. "Innovating Firms and Aggregate Innovation," Memorandum 02/2002, Oslo University, Department of Economics.
  4. Christine Greenhalgh & Mark Rogers, 2007. "Trade Marks and Performance in UK Firms: Evidence of Schumpeterian Competition through Innovation," Economics Series Working Papers 300, University of Oxford, Department of Economics.
  5. Elena Cefis & Orietta Marsili, 2005. "A Matter of Life and Death: Innovation and Firm Survival," LEM Papers Series 2005/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  6. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  7. Paul H. Jensen & Elizabeth Webster & Hielke Buddelmeyer, 2006. "Innovation, Technological Conditions and New Firm Survival," Melbourne Institute Working Paper Series wp2006n26, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  8. Philippe Aghion & Nicholas Bloom & Richard Blundell & Rachel Griffith & Peter Howitt, 2002. "Competition and innovation: an inverted U relationship," IFS Working Papers W02/04, Institute for Fiscal Studies.
  9. Greenhalgh, Christine & Rogers, Mark, 2006. "The value of innovation: The interaction of competition, R&D and IP," Research Policy, Elsevier, vol. 35(4), pages 562-580, May.
  10. Sarah Bridges & Alessandra Guariglia, 2008. "Financial Constraints, Global Engagement, And Firm Survival In The United Kingdom: Evidence From Micro Data," Scottish Journal of Political Economy, Scottish Economic Society, vol. 55(4), pages 444-464, 09.
  11. Dunne, Timothy & Roberts, Mark J & Samuelson, Larry, 1989. "The Growth and Failure of U.S. Manufacturing Plants," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 671-98, November.
  12. Sandro Mendonça & Tiago Santos Pereira & Manuel Mira Godinho, 2004. "Trademarks as an Indicator of Innovation and Industrial Change," LEM Papers Series 2004/15, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  13. Landes, William M & Posner, Richard A, 1987. "Trademark Law: An Economic Perspective," Journal of Law and Economics, University of Chicago Press, vol. 30(2), pages 265-309, October.
  14. Mata, Jose & Portugal, Pedro, 1994. "Life Duration of New Firms," Journal of Industrial Economics, Wiley Blackwell, vol. 42(3), pages 227-45, September.
  15. Elena Cefis & Orietta Marsili, 2005. "A matter of life and death: innovation and firm survival," Industrial and Corporate Change, Oxford University Press, vol. 14(6), pages 1167-1192, December.
  16. Andrew B. Bernard & J. Bradford Jensen, 2006. "Firm Structure, Multinationals, and Manufacturing Plant Deaths," Working Paper Series WP06-7, Peterson Institute for International Economics.
  17. Audretsch, David B, 1991. "New-Firm Survival and the Technological Regime," The Review of Economics and Statistics, MIT Press, vol. 73(3), pages 441-50, August.
  18. repec:fth:harver:1473 is not listed on IDEAS
  19. Richard Disney & Jonathan Haskel & Ylva Heden, 2003. "Entry, Exit and Establishment Survival in UK Manufacturing," Journal of Industrial Economics, Wiley Blackwell, vol. 51(1), pages 91-112, 03.
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