The Resource-Based Theory of the Firm and Firm Survival

Abstract

firm survival, resource-based theory, hazard rates, manufacturing, technological opportunity., C41, L1, L26, L60,

Lingering illness or sudden death? Pre-exit employment developments in German establishments

“…Therefore, these agents are interested to know how likely a firm is to survive, what determines firm exits, and whether there is a "shadow of death" visible already some time before a firm finally closes down, thus making preventive actions possible. Although there is some literature on the determinants of firm exits (e.g., Disney et al, 2003 for the UK; Bernard and Jensen, 2007 for the United States; Bellone et al, 2008 for France;Box, 2008 for Sweden;Esteve-Pérez and Mañez-Castillejo, 2008 for Spain; Fackler et al, 2013 for Germany), much less is known about the processes taking place before closure. In order to fill this research gap, this article analyzes whether firm closures occur suddenly and unexpectedly or whether employment processes can be observed that indicate an upcoming closure.…”

On the importance of forest assets for micro-firm performance

“…Firm age and size are generally positively associated with survival (Bartelsman et al 2005;Esteve-Pérez & Mañez-Castillejo 2008, cf. Shane 2003, and there are risks associated with newness as well as being a small-size firm 7 (Box 2008).…”

“…According to the 'resource-based perspective' (Alsos et al 2003;Alsos & Carter 2006), firms may develop a competitive advantage through the possession of unique combinations of different resources (Esteve-Pérez & Mañez-Castillejo 2008;Chen et al 2009;Grande et al 2011), encompassing both tangible physical resources (e.g., natural resources and financial assets) and intangible human resources (e.g., competence and information networks) (Cefis & Marsili 2005;Grande et al 2011). Access to financial assets is crucial for both firm entry as well as performance and survival in the short and long term (Binks & Ennew 1996;Headd 2003;Musso & Schiavo 2008;Krasniqi 2009): 'the more own capital is available, the more successful will the small business owner be ' (van Praag 2003: 6;cf.…”

“…Environmental econom-Katarina Haugen and Urban Lindgren ic conditions at the time of firm founding have been found to continue to influence firm development through lasting cohort effects (Box 2008), which may produce enduring heightened or lowered levels of risk throughout the 'lives' of businesses started during a particular period (Box 2008;Holmes et al 2010) as well as interact with the importance of firm age and size (Wagner 1994). Other contextual factors include changing market conditions due to, e.g., the entry of new firms which alter the competitive structure (Esteve-Pérez & Mañez-Castillejo 2008).…”

Family-owned and non family-owned SMEs: empirical evidence of survival determinants

“…Various studies (Agarwal and Audretsch, 2001;Cabral and Mata, 2003;Esteve-Pérez and Mañez-Castillejo, 2008;Siriopoulos and Lalountas, 2008;Holmes et al, 2010;Vaona, 2010;Giovannetti et al, 2011;Maçãs Nunes and Serrasqueiro, 2012) have analyzed the factors influencing firm survival. However, the specific approach focusing on the determinants factors of the survival of family-owned firms, in general, and family-owned SMEs, in particular, has been neglected in the literature.…”