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The influence of related and unrelated industry diversity on retail firm failure |
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| Affiliation: | 1. School of Fashion, Ryerson University, 350 Victoria Street, Toronto, Canada M5B 2K3;2. School of Marketing, Seneca College, 8 The Seneca Way, Markham, Ontario, Canada;3. Ted Rogers School of Management, Ryerson University, 350 Victoria Street, Toronto, Canada M5B 2K3;1. The Business School, University of Gloucestershire, Park Campus, The Park, Cheltenham GL50 2RH, United Kingdom;2. School of Materials, The University of Manchester, PO Box 88, Manchester M60 1QD, United Kingdom;1. PhD Scholar, Department of Business Management, University of Calcutta,, Flat 1 A, Surya Garden, 114 A Kankulia Road, Kolkata, West Bengal 700029, India;2. School of Management and Social Science, Haldia Institute of Technology, HIT Campus, Haldia, West Bengal 721657, India;3. International Management Institute – Kolkata, India;1. IUT de Colmar (University of « Haute-Alsace »), Research fellow at the Beta UMR 7522, Professional contact: 34 rue du Grillenbreit BP 50568, 68008 Colmar cedex, France;2. EM Strasbourg Business School (Strasbourg University), Professional contact: 61, avenue de la Forêt-Noire, 67085 Strasbourg Cedex, France |
| Abstract: | The purpose of this paper is to analyse the influence of related and unrelated industry diversity on retail firm failure with a focus on Swedish retailers. The paper develops competing hypotheses from organizational theory and the economics of agglomeration concerning the survival chances of retail firms located in geographic proximity. Hypotheses are tested using a hazard model and a sample of 48,953 retail firms observed during 2002–2010. Key findings show that increases in the local share of similar retail firms is positively related to the risk of failure while there is a negative relation between increases in local industry diversity and the risk of failure. These results indicate that knowledge transfer from a diverse set of industries are important in lowering the failure risk. Differentiating among small and specialized retail firms indicate that there is significant intra-industry heterogeneity in the influence of local industrial composition on the likelihood of failure. |
| Keywords: | Firm failure Retail Hazard model Industry diversity |
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