Early internationalization and the role of immigration in new venture survival

Immigrant-started new ventures face the liability of ethnicity because of their founders’ disadvantaged immigration status. It is extremely difficult for them to acquire human, social and financial capital and access market in founders’ country of residence to survive. This study empirically examines the survival of immigrant-started new ventures. We find that an early internationalization strategy could enhance those ventures’ survival and that immigration status moderates the effect of an early internationalization strategy on their survival. This study contributes to both immigrant and international entrepreneurship literature. Managerial and policy implications are also discussed.     

银行卡支付平台竞争绩效及其生存区间分析

银行卡支付平台具有双边市场属性,其交叉网络外部性强度深刻地影响着整个电子支付行业竞争格局。研究采用一个两阶段博弈模型分析银行卡支付平台竞争绩效及其生存区间,结果表明“赢者通吃”并非银行卡市场的常态,平台共存的条件在于交叉网络外部性要么足够大,要么就是足够小。     

Business model innovation and third-party alliance on the survival of new firms

In this study, we address the question of how the degree of business model innovation affects the survival of new firms. We present a newly constructed data set of 129 new firms that launched electronic trading platforms in the US bond market between 1995 and 2004 following the advent of Internet technology. We analyze the founding and survival of these new firms during the period of our study. We find that new firms with a high or low degree of business model innovation are more likely to survive for longer than new firms with a moderate degree of business model innovation. We show that partnering with third-party firms with complementary assets reduces the survival of new firms as the degree of business model innovation increases. We discuss the implications of our findings for managers, policy-makers and researchers.     

Non-founder human capital and the long-run growth and survival of high-tech ventures

This paper considers the impact of non-founder human capital on high-tech firms' long-run growth and survival. Drawing upon threshold theory, we explore how lack of access to complementary skills at different points in the life course impacts founders' thresholds for exit. We examine these factors using a unique longitudinal dataset tracking the performance and survival of a sample of UK high-tech firms over thirteen years as the firms move from youth into maturity. We find that firms that survive but do not grow are characterized by difficulty in accessing complementary managerial skills in youth, while firms that grow but subsequently exit are characterized by shortfalls of specialized complementary skills during adolescence. Firms that grow and survive do not report skills shortfalls. We discuss the implications of these resource constraints for entrepreneurs’ decisions to persist or exit through the life course.     

The competing risks of acquiring and being acquired: Evidence from Colombia's financial sector

This paper studies the determinants of the probability of participating in a process of merging or acquisition for financial institutions in Colombia. We use survival analysis techniques and competing risks models to estimate the probability of participating in such processes as an acquiring or acquired firm. Using an especially rich database containing financial information of Colombian banks for the period 1990–2007, we find that both macroeconomic and microeconomic variables are important determinants of this probability. However, there are differential effects for the acquiring firm and the acquired firm. Particularly, while firm size and solvency are significant determinants of the probability of being an acquiring firm, efficiency is an important determinant of the probability of being acquired. Also, the concentration index, which plays no role for acquiring firms, plays an important role in the probability of being acquired.     

Survival in Cournot games

In a model that encompasses a general equilibrium framework, we consider a monopolist (a producer) with subjective beliefs that endogenously hedges against fluctuations in input prices in a complete market. We allow for entries and Cournot competition in this economy, and we study how erroneous beliefs affect long-run survival for those firms. We introduce a notion of entropy of beliefs, and we use it to characterize the class of beliefs for which the monopolist eventually disappears almost surely. When disappearance occurs, the whole market power switches to the entrant making the most accurate predictions in our sense. The class of beliefs for which survival occurs is much broader than that of perfectly competitive settings.     

The Role of Service Operations Management in New Retail Venture Survival

While the factors related to the survival of established retail firms are well researched, current understanding of drivers of new retail venture survival is limited. We assess the influence of retail operations characteristics on the survival of new retail ventures. Based on data from 15,901 Portuguese retail ventures that were founded between 2006 and 2010 and followed until 2014, the new retail ventures with faster inventory turnover or higher staff expenses per employee had a higher likelihood of survival while higher investment in intangible assets had a negative but negligible effect on survival. The implications of these findings for entrepreneurs of new retailing ventures are discussed.     

高技术企业生存风险预测模型的研究

高技术企业在经营过程存在生存风险,预测高技术企业的生存风险,使企业能及时采取相应措施,是高技术企业保持可持续发展的有效途径。利用人工神经网络可以建立高技术企业生存风险预测模型,模型是利用BP神经网络误差反向传播学习算法建模,通过神经网络的学习来确定的,用效率、效益、结构类共13个指标作为生存风险评价指标体系,根据专家咨询及企业实地调查确定企业生存风险安全性数值范围;预测时只需把生存风险的指标数据输入模型,由模型计算出企业安全系数,通过企业安全系数来判断其生存风险。在实证研究中,通过样本企业的学习和检验确定预测模型,把待测的企业的指标数据输入模型计算出安全系数,实证表明,高技术企业生存风险预测模型具有较高的准确性。     

生存分析在股市期市涨跌预测中的应用

运用生存分析（Survival Analysis）方法和台湾2009-2011年每日发布的公开数据,建立Cox回归模型（Cox regression model）,预测台湾隔日加权股价指数期货涨跌。实证分析显示:涨幅模型预测结果的正确率为74.47%,绩效验证中平均收益有35.73点;跌幅模型预测的正确率为75.32%,绩效验证中平均收益有37.99点;将涨跌幅模型综合在一起考虑时,在绩效验证中可知平均收益可达38.68点。     

金融危机下中小企业生存问题思考

在金融危机的影响下,中小企业虽然得到了国家政策的支持,但存在名惠而实不至现象,仍然承受着资金短缺和需求不振的重压。在目前形势下,中小企业面临前所未的生存危机,对此,本文分析中小企业的生存困境,结合实际提出有关建议和对策。