Entry, Innovation and Exit from LAN Switch Industry

Abstract : We investigate whether the form of exit is triggered by the form of entry and technical expertise, an exercise which has been persistently missing in the literature, for a sample of 121 firms in the LAN switch industry. We find that pre-entry experience, technical expertise, and intangible assets are important determinants of firm survival. Extending the analysis to the case of heterogeneous exit, we find that firms with high pre-entry experience and higher technical expertise are more likely to exit by acquisition than by failure. Conversely, possessing a larger intangible capital and previous experience in related markets does not lead to a higher probability of being acquired.
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Pré-publication, Document de travail
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  • HAL Id : hal-00973045, version 1
  • SCIENCESPO : 2441/6127

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Roberto Fontana, Lionel Nesta. Entry, Innovation and Exit from LAN Switch Industry. 2007. ⟨hal-00973045⟩

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