Technological regimes and firm survival

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This paper investigates whether the type of technological regime moderates the effects of entry timing, entry size (i.e., initial resources), and active (post-entry) learning on firm survival. By analyzing a unique dataset of newly founded Korean manufacturing firms, we find that the effects of the factors influencing firm survival differ substantially across technological regimes. Specifically, entry size has the greatest positive effect on firm survival under the regime characterized by low technological opportunity and high R&D appropriability, under which opportunities for disruptive innovation are stagnant and the advantages of initial resources are more likely to persist. Post-entry active learning through R&D, on the contrary, has the greatest effect on firm survival under the regime of high technological opportunity and low R&D appropriability, under which active learning through contemporaneous R&D effort is more crucial for firm survival than initial resource advantages mostly due to the possibility of creative destruction.
Publisher
ELSEVIER SCIENCE BV
Issue Date
2016-02
Language
English
Article Type
Article
Keywords

RESEARCH-AND-DEVELOPMENT; RESOURCE-BASED VIEW; MARKET-STRUCTURE; SCHUMPETERIAN PATTERNS; COMPETITIVE ADVANTAGE; DYNAMIC CAPABILITIES; 1ST-MOVER ADVANTAGES; PRODUCTIVITY GROWTH; DOMINANT DESIGNS; LIFE-CYCLE

Citation

RESEARCH POLICY, v.45, no.1, pp.232 - 243

ISSN
0048-7333
DOI
10.1016/j.respol.2015.09.006
URI
http://hdl.handle.net/10203/207879
Appears in Collection
MT-Journal Papers(저널논문)
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