Determinants of survival of newly created SMEs in the Brazilian manufacturing industry: an econometric study

Resende, Marcelo; Cardoso, Vicente; Façanha, Luís Otávio

doi:10.1007/s00181-015-0981-4

Cited by 23 publications

(24 citation statements)

References 45 publications

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“…This suggests that in more concentrated markets, the probability of survival is lower. In other words, firms operating in highly competitive markets are more likely to survive than those in poorly competitive markets, and this concurs with the results of and Resende et al (2016). Moreover, the entry variable exerts a negative influence on the survival rates of firms, and so there is evidence that the entry of new firms increases competition, and consequently, reduces the chance of survival, which is in line with the evidence provided in Varum et al (2014).…”

Section: Resultssupporting

confidence: 86%

Survival of Firms in Crisis: Evidence from Antalya Tourism City

Türkcan¹,

Erkuş‐Öztürk

2019

Advances in Hospitality and Tourism Research (AHTR)

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Firm survival in tourism cities has long been a topic of discussion, due to particularly the fragile nature of the tourism industry. Crises make tourism cities even more fragile, which makes them an ideal case for studying the effects of crises on firm survival. Antalya, Turkey's leading tourist destination, has suffered from economic and political crises in recent years. This study investigates the factors influencing firm survival in a crisisridden tourism city. The results of a time-discrete survival analysis show that firm survival depends on firm-, industry-, and location-specific factors. Business survival declines in times of downturns. The survival rate is higher for smaller and younger firms and lower for corporate firms. There are no differences between foreign owned and domestic firms.

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Section: Resultssupporting

confidence: 86%

Survival of Firms in Crisis: Evidence from Antalya Tourism City

Türkcan¹,

Erkuş‐Öztürk

2019

Advances in Hospitality and Tourism Research (AHTR)

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“…Resende et al . 2016) but survival rates decline when the industry matures (Falck 2007), or in industries with a high minimum efficient size of establishments or high number of new entrants (Fritsch et al . 2006).…”

Section: New Venture Survival: Analysis Of the Literaturementioning

confidence: 99%

“…1995; Resende et al . 2016). However, being small is not necessarily a liability in cases where technology and industry lifecycle stage shape the relationship between firm size and the likelihood of survival (Agarwal and Audretsch 2001); where trade, fiscal and monetary reforms in the operating environment attenuate small firms’ survival disadvantages (Klapper and Richmond 2011); and in industries with complex technologies where patent‐portfolio quality reduces the risk of failure (Useche 2015).…”

Section: New Venture Survival: Analysis Of the Literaturementioning

confidence: 99%

New Venture Survival: A Review and Extension

Soto-Simeone

Sirén

Antretter

2020

Int J Management Reviews

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This paper provides an evaluative overview of the new venture survival literature. Since Stinchcombe's primary attempt to explain the mortality rates of new ventures, different research fields, including entrepreneurship, management and sociology, have devoted considerable attention to the antecedents of new venture survival. Despite this lively research commitment, a comprehensive review of the literature on new venture survival-as one of the most essential performance measures for new ventures-is missing. Covering 54 years of research, this paper provides an overview of the factors affecting new venture survival and highlights important methodological aspects in this research field. The review concludes by discussing opportunities for future research.

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“…There are many studies that aim to disentangle the main drivers that affect new firms' success (Aghion, Fally, and Scarpetta 2007; Astebro and Bernhardt 2003; Audretsch 1995; Bastié, Cieply, and Cussy 2011; Bastié, Cieply, and Cussy 2013; Calvino, Criscuolo, and Menon 2015; Carter and Van Auken 2006; Cooper and Gimeno‐Gascon 1992; Deloof, La Rocca, and Vanacker 2019; Franco and Haase 2010; Geroski, Mata, and Portugal 2010; Hogarth and Karelaia 2012; Honjo and Kato 2016; Ogane 2016; Praag and Mirjam 2003; Resende, Cardoso, and Façanha 2016). Among the most effective determinants, the start‐ups' initial ability to access external financing, especially bank loans, has been considered relevant.…”

Section: Introductionmentioning

confidence: 99%

Does Initial Access to Bank Loans Predict Start‐ups' Future Default Probability? Evidence From Italy

Castaldo

Luca

Barile

2020

Contemporary Economic Policy

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In Europe, several countries have established public loan guarantee funds throughout direct/indirect loan programs to facilitate the access of SMEs and start-ups to bank credit. This paper investigates whether start-ups' level of access to bank loans during the early stage represents an imprinting factor with effects on the likelihood of survival once the firm reaches maturity. We rely on a firm-level longitudinal data set of 49,111 Italian startups born from 2003 to 2005. Implementing a 2SLS regression analysis we show that the initial level of start-up bank debt negatively influences the probability of default controlling for firm characteristics and performance. (JEL G21, M20, H32) * The authors would like to thank an anonymous referee that kindly reviewed this manuscript and provided valuable comments and suggestions, and the CERVED group for the data provided. The authors are also grateful to

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Determinants of survival of newly created SMEs in the Brazilian manufacturing industry: an econometric study

Cited by 23 publications

References 45 publications

Survival of Firms in Crisis: Evidence from Antalya Tourism City

Survival of Firms in Crisis: Evidence from Antalya Tourism City

New Venture Survival: A Review and Extension

Does Initial Access to Bank Loans Predict Start‐ups' Future Default Probability? Evidence From Italy

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