Product Innovation and Survival in a High-Tech Industry

被引：110

作者：

Fontana, Roberto ^{[2
,3
]}

Nesta, Lionel ^{[1
]}

机构：

[1] Obser Francais Conjonctures Econ, Dept Rech Innovat & Concurrence, F-06560 Valbonne, France

[2] Univ Pavia, Dept Econ, I-27100 Pavia, Italy

[3] Bocconi Univ, KITeS, I-20139 Milan, Italy

来源：

REVIEW OF INDUSTRIAL ORGANIZATION | 2009年 / 34卷 / 04期

关键词：

Competing risk model; High-technology industries; Firm survival; Market positioning; Quality frontier; FIRM SURVIVAL; ENTRY; MARKET; SELECTION; EVOLUTION; DURATION; TURNOVER; EXIT;

D O I：

10.1007/s11151-009-9210-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We investigate the relationship between product innovation and firm survival for a sample of 121 firms in a high-tech industry. We find that location near the technological frontier is an important determinant of firm survival. Firms that are located near the frontier are also more likely to be acquired than to exit by liquidation if they cannot survive as free-standing enterprises. This suggests that product location in the technology space acts as a signal of firm quality. Greater R&D efforts increase the probability of surviving; in the event that the firm does exit, however, its R&D efforts do not significantly influence whether it exits via acquisition or exits via liquidation.

引用

页码：287 / 306

页数：20

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