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Survival of New Technology Based Firms in the UK and Germany
conference contribution
posted on 2023-05-24, 22:20 authored by Cowling, M, Fryges, HR, Licht, GThe 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.
History
Publication title
Frontiers of Entrepreneurship Research, Proceedings of the Twenty-Sixth Annual Entrepreneurship ConferenceVolume
26(22)Editors
A. ZacharakisPagination
1-11ISBN
0-910897-27-1Department/School
TSBEPublisher
the Babson College Entrepreneurship Research ConferencePlace of publication
Babson Park, MAEvent title
Frontiers of Entrepreneurship Research 2006Event Venue
Babson CollegeDate of Event (Start Date)
2006-01-01Date of Event (End Date)
2006-01-01Repository Status
- Restricted