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Innovation et sélection des firmes : L’industrie des équipements en réseaux locaux

Abstract : We investigate whether the form of exit is triggered by the form of entry and technical expertise, an exercise which has been persistently missing in the literature, for a sample of 121 firms in the LAN switch industry. We find that pre-entry experience, technical expertise, and intangible assets are important determinants of firm survival. Extending the analysis to the case of heterogeneous exit, we find that firms with high pre-entry experience and higher technical expertise are more likely to exit by acquisition than by failure. Conversely, possessing a larger intangible capital and previous experience in related markets does not lead to a higher probability of being acquired.
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https://hal-sciencespo.archives-ouvertes.fr/hal-03462023
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Submitted on : Wednesday, December 1, 2021 - 3:55:41 PM
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Roberto Fontana, Lionel Nesta, Sandrine Selosse. Innovation et sélection des firmes : L’industrie des équipements en réseaux locaux. Revue de l'OFCE, Presses de Sciences Po, 2007, pp.121 - 142. ⟨10.3917/reof.100.0121⟩. ⟨hal-03462023⟩

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