11,825 research outputs found

    Incubator Age and Incubation Time: Determinants of Firm Survival after Graduation?

    Get PDF
    On the basis of a sample of 149 graduate firms from five German technology oriented business incubators, this article contributes to incubator/incubation literature by investigating the effects of the age of the business incubators and the firms’ incubation time in securing long-term survival of the firms after leaving the incubator facilities. The empirical findings from Cox-proportional hazards regression and parametric accelerated failure time models reveal a statistically negative impact for both variables incubator age and incubation time on post-graduation firm survival. One possible explanation for these results is that, when incubator managers become increasingly involved in various regional development activities (e.g. coaching of regional network initiatives), this may reduce the effectiveness of incubator support and therefore the survival chances of firms.firm survival, hazard rates, business incubators, local technology policy

    ARE THE DYNAMICS OF KNOWLEDGE-BASED INDUSTRIES ANY DIFFERENT?

    Get PDF
    The concept of «knowledge-based industries» (KBIs) has been widely used both in the academy and in policy-making over the last decade, due to the increasing role those industries play – both in terms of value added and employment – in contemporary, advanced economies. In this paper we discuss the extent to which KBIs differ from other industries in what concerns some of the stylised facts and regularities of industry dynamics usually found in the literature. In particular, we analyse the patterns and the determinants of firm entry and post-entry performance (measured in terms of survival of new firms), comparing KBIs groups with the remaining industries, using data for the Portuguese economy in the second half of the 1990s. We find that KBIs and the firms within them show some signs of distinctiveness in their dynamics as compared to the general case. In particular, on average, KBIs firms have higher survival chances, and entry within the KBIs groups is less responsive to incentives.knowledge-based industries; market entry; firm survival

    The role of industry, occupation, and location specific knowledge in the survival of new firms

    Full text link
    How do regions acquire the knowledge they need to diversify their economic activities? How does the migration of workers among firms and industries contribute to the diffusion of that knowledge? Here we measure the industry, occupation, and location-specific knowledge carried by workers from one establishment to the next using a dataset summarizing the individual work history for an entire country. We study pioneer firms--firms operating in an industry that was not present in a region--because the success of pioneers is the basic unit of regional economic diversification. We find that the growth and survival of pioneers increase significantly when their first hires are workers with experience in a related industry, and with work experience in the same location, but not with past experience in a related occupation. We compare these results with new firms that are not pioneers and find that industry-specific knowledge is significantly more important for pioneer than non-pioneer firms. To address endogeneity we use Bartik instruments, which leverage national fluctuations in the demand for an activity as shocks for local labor supply. The instrumental variable estimates support the finding that industry-related knowledge is a predictor of the survival and growth of pioneer firms. These findings expand our understanding of the micro-mechanisms underlying regional economic diversification events

    Duration Dependence and Nonparametric Heterogeneity: A Monte Carlo Study

    Get PDF
    We examine the behaviour of the nonparametric maximum likelihood estimator (NPMLE) for a discrete duration model with unobserved heterogeneity and unknown duration dependence. We find that a nonparametric specification of either the duration dependence or unobserved heterogeneity, when the other feature of the hazard is known to be absent, leads to estimators that are well behaved even in modestly sized samples. In contrast, there is a large and systematic bias in the parameters of these components when both are specified nonparametrically, as well as a complementary bias in the coefficients on observed heterogeneity. Furthermore, these biases diminish very gradually as sample size increases. We find that a minor modification of the quasilikelihood that penalizes specifications with many points of support leads to a dramatic improvement.Duration model, unobserved heterogeneity, NPMLE

    Voluntary Turnover and Job Performance: Curvilinearity and the Moderating Influences of Salary Growth, Promotions, and Labor Demand

    Get PDF
    In this study we investigated the relation between job performance and voluntary employee turnover for 5,143 exempt employees in a single firm in the petroleum industry. As hypothesized, we found support for Jackofsky\u27s (1984) curvilinear hypothesis as turnover was higher for low and high performers than it was for average performers. Three potential moderators of this curvilinearity were examined in an attempt to explain conflicting results in the performance turnover literature and contradictory predictions from turnover models. As predicted, pay growth, promotions, and labor demand each differentially influenced the turnover patterns of low, average, and high performers. Most notably, paying high performers according to their performance predicted substantial decrements in turnover. A utility analysis indicated that the benefits of paying high performers according to their performance more than offset the costs and that such an approach was a superior strategy when compared to a more egalitarian pay growth policy

    The Timing of Change for Automobile Transactions: A Competing Risk Multispell Specification

    Get PDF
    With the increasing number of panel data sets available in transport, the opportunity exists for the study of the time frame a household uses in making transport decisions. Panels collect data at regular points in time, and record information related to occurrences over the period since the last wave. Some panels record the precise time of an event during a panel wave. The opportunity to record event histories complete with identification of the states associated with a phenomenon such as automobile ownership together with the duration spent in each state provides powerful data for modelling the ‘when’ component of change through time. The ability to trace the timing of change and to model it will give transportation planners one missing element of forecasting - the timing of change. This paper develops a number of competing risk multispell models to obtain insights into the time spent in each of three states of automobile transactions (no change, replace used with used vehicle, and replace used with new vehicle), the factors which affect the probability of leaving a state, the probability of staying with a state, the effect of past history on current behaviour, and whether the population segments into distinct groups with different change probabilities. A data set of 12 years of annual observations (1974-1985) of a sample of Sydney households is used to illustrate the application of event history models
    corecore