Learning about Failure: Bankruptcy, Firm Age, and the Resource-Based View
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Penn collection
Management Papers
Degree type
Discipline
Subject
liability of newness
resource-based view
bankruptcy
Business Administration, Management, and Operations
Business Analytics
Business and Corporate Communications
Business Intelligence
Management Information Systems
Management Sciences and Quantitative Methods
Organizational Behavior and Theory
resource-based view
bankruptcy
Business Administration, Management, and Operations
Business Analytics
Business and Corporate Communications
Business Intelligence
Management Information Systems
Management Sciences and Quantitative Methods
Organizational Behavior and Theory
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Author
Thornhill, Stewart
Amit, Raphael
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Abstract
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.
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Publication date
2003-01-01