Technological Regimes and Firm Survival: Evidence Across Sectors and Over Time |
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Authors: | Pei-Chou Lin Deng-Shing Huang |
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Affiliation: | (1) Department of Public Financ, Jin-Wen Institute of Technology, 99, Anjhong Rd., Sindian City, Taipei County, 231, Taiwan;(2) Institute of Economics, Academia Sinica, 128, Sec. 2, Sinica Rd., Nankang, Taipei, 11529, Taiwan, Republic of China |
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Abstract: | In addition to the usual variables representing firm- and industry-specific features that impact the firm’s survival, this paper uses three R&D related variables to reflect two Schumpeterian technological regimes: creative destruction (the entrepreneurial regime) and creative accumulation (the routinized regime). After controlling for age, size, entry barriers, capital intensity, the profit margin, the concentration ratio, the profit-cost ratio and entry rates, the empirical results confirm the theoretical relationship between technological regimes and the survival rate of new firms: new firms are more likely to survive under the entrepreneurial regime. Moreover, this effect is larger within the younger cohorts of firms than within the older ones. |
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Keywords: | firm survival technological regimes Taiwanese manufacturing. |
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