Technological arbitrage opportunities and interindustry differences in entry rates |
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Authors: | Sergey Anokhin Joakim Wincent |
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Institution: | 1. Kent State University, United States;2. Voronezh State University, Russian Federation;3. Luleå University of Technology, Sweden;4. University of Vaasa, Finland;5. Hanken School of Economics, Arkadiankatu 22, 001 01 Helsinki, Finland |
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Abstract: | In this study we investigate the relationship between technological arbitrage opportunities and entry rates in twenty-six industries over the course of five years. Arbitrage opportunities are shown to be a positive and significant predictor of business entry rates. Such positive effect is weakened in industries with strong appropriability regime including effective patents, secrecy, and lead time. Adding arbitrage opportunities to the typical determinants of entrepreneurship such as innovative opportunities significantly increases predictive power of the regression models. |
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Keywords: | Arbitrage opportunity Start-up rates Appropriability regime |
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