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Survival of New Technology Based Firms in the UK and Germany

Citation

Cowling, M and Fryges, HR and Licht, G, Survival of New Technology Based Firms in the UK and Germany, the Babson College Entrepreneurship Research Conference, 2006, Babson College, pp. 1-11. ISBN 0-910897-27-1 (2006) [Conference Edited]


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Abstract

The survival statistics pose a number of important questions from both policy and theory perspectives. Of particular interest is the high degree of difference in the key variables influencing survival between the two country cohorts. In a majority of cases, a variable shown to be important in one or both model variants for, say, Germany does not register as significant at all for the UK(and vice versa). When the variable is seen as significant, the direction of the coefficient is on occasion reversed. For example, the provision of Government finance at a later stage is associated with a reduced probability of survival in Germany and an increased probability in the UK. Overall, the results serve to challenge accepted wisdom in a number of areas. In Germany, the negative associations (with survival) of firm age, angel financing and government finance at later stage are interesting. Similarly, in the UK, the negative effects of employment size at start-up, the role of government finance at start-up, and the contribution of venture capital are also somewhat counter-intuitive.

Item Details

Item Type:Conference Edited
Keywords:new technology based firms; firm survival
Research Division:Economics
Research Group:Applied Economics
Research Field:Industry Economics and Industrial Organisation
Objective Division:Economic Framework
Objective Group:Microeconomics
Objective Field:Microeconomics not elsewhere classified
Author:Fryges, HR (Dr Helmut Fryges)
ID Code:85369
Year Published:2006
Deposited By:Australian Innovation Research Centre
Deposited On:2013-07-02
Last Modified:2013-11-09
Downloads:0

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