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Is the First to Market the First to fail?: Empirical Evidence for Manufacturing Business

Listed author(s):
  • Robinson, W.T.
  • Min, S.
Registered author(s):

    While the empirical relationship between order of market entry and firm survival has not been established, conventional wisdom describes how the market pioneer faces the greatest market and technological uncertainty. Memorable phrases reflect the associated survival risk, such as "the first to market is the first to fail" and "pioneer is the one with the arrows in their back". To access survival risk in the face of both market and technological uncertainty, this study compares survival rates for 189 market pioneers versus 320 early followers.

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    File URL: http://www.krannert.purdue.edu/programs/phd/Working-paper-series/Year-1998/1115.pdf
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    Paper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number 1115.

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    Length: 25 pages
    Date of creation: Jul 1998
    Handle: RePEc:pur:prukra:1115
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    Web page: http://www.krannert.purdue.edu/programs/phd

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    1. Hueckel, G., 1997. "Laborr Command in 'The Wealth of Nations': A Search for "System"," Purdue University Economics Working Papers 1099, Purdue University, Department of Economics.
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    4. Allen, Jeffrey W. & Lummer, Scott L. & McConnell, John J. & Reed, Debra K., 1995. "Can Takeover Losses Explain Spin-Off Gains?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 30(04), pages 465-485, December.
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    8. Ledyard, J.O. & Noussair, C. & Porter, D., 1994. "The Allocation of Shared Resource within an Organization," Purdue University Economics Working Papers 1063, Purdue University, Department of Economics.
    9. Hueckel, G., 1997. "Smith's Uniform "Toil and Trouble": A "Vain Subtlety"?," Purdue University Economics Working Papers 1100, Purdue University, Department of Economics.
    10. Kenneth Matheny & Charles Noussair, 2000. "An experimental study of decisions in dynamic optimization problems," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 15(2), pages 389-419.
    11. Baye, M.R. & Kovenock, D. & De Vries, C.G., 1993. "The Solution to the Tullock Rent-Seeking Game when r>2: Mixed-Strategy Equilibria and Mean Dissipation Rates," Purdue University Economics Working Papers 1039, Purdue University, Department of Economics.
    12. Sugato Chakravarty & John J. McConnell, 1997. "An Analysis of Prices, Bid/Ask Spreads, and Bid and Ask Depths Surrounding Ivan Boesky's Illegal Trading in Carnation's Stock," Financial Management, Financial Management Association, vol. 26(2), Summer.
    13. Wahal, Sunil & McConnell, John J., 2000. "Do institutional investors exacerbate managerial myopia?," Journal of Corporate Finance, Elsevier, vol. 6(3), pages 307-329, September.
    14. Baye, M.R. & Kovenock, D., 1993. "The Solution of the Tullock Rent-Seeking Game when R > 2 : Mixed-Strategy Equilibria and Mean Dissipation Rates," Discussion Paper 1993-68, Tilburg University, Center for Economic Research.
    15. Hunsaker, J. & Kovenock, D., 1995. "The Pattern of Exit from Declining Industries," Purdue University Economics Working Papers 1072, Purdue University, Department of Economics.
    16. McConnell, John J. & Servaes, Henri, 1995. "Equity ownership and the two faces of debt," Journal of Financial Economics, Elsevier, vol. 39(1), pages 131-157, September.
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