Does the hazard rate for new plants vary between low- and high-tech industries? |
| |
Authors: | Talat Mahmood |
| |
Institution: | (1) Wissenschaftszentrum Berlin für Sozialforschung Market Processes and Corporate Development, Reichpietschufer 50, DW-1000 Berlin 30, Germany |
| |
Abstract: | Based on a longitudinal data base the hazard rates of over 12000 newly established plants in U.S. manufacturing industry in 1976 are estimated and then compared between low and high-tech industries. It is found that the hazard rate differs across industries, and it also varies between low and high-tech industries. The hazard rate in lowtech industries is reduced in the presence of scale economies, whereas the exposure to risk tends to be higher in high-tech industries. The influence of start-up size in reducing the hazard rate is apparently similar between low and high-tech industries, but its role is found to be more important in the high-technological industries. Market growth and R&D intensity exert no influence on the hazard rate in either the low- or high-tech industries. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|