Learning about failure: Bankruptcy, firm age, and the resource-based view

• 成果类型: Article
• 署名作者: Thornhill, S; Amit, R
• 署名单位: Western University (University of Western Ontario); University Western Ontario Hospital; University of Pennsylvania
• 刊物名称: ORGANIZATION SCIENCE
• ISSN/ISSBN: 1047-7039
• DOI: 10.1287/orsc.14.5.497.16761
• 发表日期: 2003
• 页码: 497-509
• 关键词: liability of newness; resource-based view; bankruptcy

摘要

Systematic differences in the determinants of firm failure between firms that fail early in their life and those that fail after having successfully negotiated the early liabilities of newness and adolescence are identified. Analysis of data from 339 Canadian corporate bankruptcies suggests that failure among younger firms may be attributable to deficiencies in managerial knowledge and financial management abilities. Failure among older firms, on the other hand, may be attributable to an inability to adapt to environmental change.