This study investigates the influence of regional factors on firm survival, with a particular focus on the startup and growing phases of firms. By employing Cox-proportional hazard models, the analysis centers on Mississippi establishments and considers regional attributes such as industry specialization, diversity and workforce education levels. The findings reveal that industry specialization does not significantly impact firm survival, while industry diversity has a negative effect, indicating a lack of discernible agglomeration benefits within Mississippi's business environment. Interestingly, regions characterized by educated and skilled workers exhibit a positive association with firm survival, particularly in the growing stage rather than during the startup phase. The findings emphasize the need to tailor strategies based on the firm's specific maturity stage in order to enhance their chances of survival.

Η εξέλιξη των επιχειρήσεων και η ανάπτυξή τους έχει απασχολήσει από παλιά την ακαδημαϊκή κοινότητα (Gibrat 1931). Ένα εξιδεικευμένο τμήμα της βιβλιογραφίας αυτής ασχολείται με τον προσδιορισμό των παραγόντων επιβίωσης των επιχειρήσεων, που αποτελεί αντικείμενο της παρούσας διατριβής. Οι παράγοντες αυτοί μπορεί να αναφέρονται σε ίδια χαρακτηριστικά των επιχειρήσεων και του κλάδου στον οποίο ανήκουν ή και σε μακροοικονομικούς παράγοντες. Ο προαναφερθείς σκοπός επιτυγχάνεται μέσα από την ανάπτυξη των θεωρητικών υποθέσεων με βάση τις οποίες καταρτίζεται το οικονομετρικό υπόδειγμα. Το κύριο βάρος της εργασίας εστιάζεται στην ανάλυση των συνεχών υποδειγμάτων κινδύνου και το έλεγχο των υποθέσεων στα οποία βασίζονται. Ειδικότερα εξετάζεται η επίδραση της μορφής των δεδομένων και της χρονικής συνάθροισης στους εκτιμητές των εφαρμοζόμενων στην μέχρι σήμερα εμπειρική έρευνα υποδειγμάτων. Συγκρίνοντας διαφόρους τύπους διακριτών και συνεχών υποδειγμάτων κινδύνου οδηγούμεθα στο συμπέρασμα ότι τα μέχρι σήμερα εφαρμοζόμενα συνεχή υποδείγματα καταλήγουν σε μεροληπτικά αποτελέσματα. Η εφαρμογή διακριτών υποδειγμάτων κινδύνου PCE, που αποτελεί και την συνεισφορά μας στη βιβλιογραφία, περιορίζει σε σημαντικό βαθμό τα μειονεκτήματα των εφαρμοζόμενων στην εμπειρική έρευνα υποδειγμάτων. Η εφαρμογή της παραπάνω μεθοδολογίας προϋποθέτει δεδομένα τύπου longitudinal τα οποία δεν είναι συνήθως διαθέσιμα. Αυτό εξηγεί το γεγονός των περιορισμένων εμπειρικών εργασιών στο χώρο της επιβίωσης των επιχειρήσεων. Δεδομένης της δυσκολίας εξεύρεσης κατάλληλων δεδομένων η εμπειρική εφαρμογή στηρίχθηκε σε δεδομένα δημοσίων εγγραφών της ελληνικής κεφαλαιαγοράς για την περίοδο 1993-2002. Από όσο είμαστε σε θέση να γνωρίζουμε είναι η πρώτη φορά στη βιβλιογραφία που διεξάγεται παρόμοια έρευνα με ελληνικά δεδομένα δημοσίων εγγραφών. Τέλος, η διατριβή καταλήγει στην εξαγωγή των βασικών συμπερασμάτων και προτάσεων σχετικά με μελλοντική έρευνα. / Most economic phenomena are measured over long time intervals and this naturally leads us to see time as a discrete variable. More precisely, the underlying duration process occurs in continuous time, while the observed data comes in grouped form. In applied research, while firm life data are grouped into time intervals, continuous hazard models are used. The purpose of this paper is to investigate the sensitivity of regression coefficients and the coefficient duration dependence of the discrepancy between the statistical model and the data generating process.

This dissertation focused on the longitudinal analysis of business start-ups using three waves of data from the Kauffman Firm Survey. The first essay used the data from years 2004-2008, and examined the simultaneous relationship between a firm’s capital structure, human resource policies, and its impact on the level of innovation. The firm leverage was calculated as, debt divided by total financial resources. Index of employee well-being was determined by a set of nine dichotomous questions asked in the survey. A negative binomial fixed effects model was used to analyze the effect of employee well-being and leverage on the count data of patents and copyrights, which were used as a proxy for innovation. The paper demonstrated that employee well-being positively affects the firm's innovation, while a higher leverage ratio had a negative impact on the innovation. No significant relation was found between leverage and employee well-being. The second essay used the data from years 2004-2009, and inquired whether a higher entrepreneurial speed of learning is desirable, and whether there is a linkage between the speed of learning and growth rate of the firm. The change in the speed of learning was measured using a pooled OLS estimator in repeated cross-sections. There was evidence of a declining speed of learning over time, and it was concluded that a higher speed of learning is not necessarily a good thing, because speed of learning is contingent on the entrepreneur's initial knowledge, and the precision of the signals he receives from the market. Also, there was no reason to expect speed of learning to be related to the growth of the firm in one direction over another. The third essay used the data from years 2004-2010, and determined the timing of diversification activities by the business start-ups. It captured when a start-up diversified for the first time, and explored the association between an early diversification strategy adopted by a firm, and its survival rate. A semi-parametric Cox proportional hazard model was used to examine the survival pattern. The results demonstrated that firms diversifying at an early stage in their lives show a higher survival rate; however, this effect fades over time.

This longitudinal study investigates firm-survival in a peripheral region. The analysis relies on a unique longitudinal dataset, encompassing all firms in 17 Stockholm Archipelago islands during 2000-2019, collected through data triangulation methods. The study employs multivariate analysis accomplished by three-level logistic regression models of repeated observations (level-1) of the same distinct firms (level-2) situated in specific islands (level-3). The main novel results suggest that firms on islands with higher population density have an increased probability of exit – specifically, that there exists an overcrowding of local markets and a harsher selection process in these islands. While time-distance to the mainland have been discussed as problematic, the effect on firm-survival is insignificant. However, local access to essential services and infrastructures significantly lowers the likelihood of firm-exit. Islands with increasing institutional thickness have increased community dynamics with more knowledge spillovers, community-level learning, and entrepreneurial ecosystems, leading to a higher likelihood of firm-survival. A higher ratio of summer visitors increases the probability of exit, suggesting that firms on islands with seasonal dependability may have difficulties surviving the off-season. / Trots dess närhet till Sveriges största och snabbast växande marknad delar Stockholms skärgård många drag med andra regioner som befinner sig i periferin, det vill säga utkanten. Bland annat har skärgården svårigheter att dra nytta av den ekonomiska dynamik som är karakteristisk för centrala regioner. Trots den problematik som kan vara typisk för perifera områden (såsom brist på resurser och avfolkning), betonar forskare att beslutsfattare måste utgå ifrån den lokalspecifika och regionala kontexten. Små och medelstora företag i periferin förväntas inte enbart bidra med ökade intäkter till regionen, utan förväntas även tillmötesgå sysselsättningsefterfrågan. Frågan om vilka företag som överlever, och inte minst förklaringarna till företags överlevad, är därför särskilt viktig i dessa regioner. Trots att orsakerna till företags överlevnad länge diskuterats inom forskningen, råder det brist på studier som tar upp den kontext som avser periferi och faktorer som är betydelsefulla för en specifik kontext. Denna studie utgör ett bidrag till en sådan analys. Studiens resultat visar att överlevnadsmöjligheterna är sämre för företag som befinner sig på öar med högre andel fastboendebefolkning. Detta indikerar att på större öar, med en relativt sett högre befolkningsnivå, är konkurrensen mer påtaglig. Vidare, trots att transportmöjligheter till fastlandet ofta anges som problem i diskussioner, slår studien fast att tidsavståndet till huvudorter på fastlandet inte är viktigt för företags överlevnadsmöjligheter. Däremot har företag sämre utsikter för överlevnad på öar med högre andel sommargäster i relation till vinterbesökare. Tillgången till fiber/bredband, livsmedelsbutiker som är öppna året runt, och förskolor bidrar betydligt till överlevnadsmöjligheterna. Vidare konstaterar studien att ett mer aktivt föreningsliv på en ö ökar möjligheterna för överlevnad. För att komma fram till dessa samt andra resultat, har studien använt sig av en longitudinell ansats, som innebär att studieobjekten (företagen) följs över tid, liksom ett unikt empiriskt underlag. Detta material har samlats från flera olika typer källor, underlag och databaser som beskriver både öar och företag i Stockholms skärgård, där undersökningsperioden är mellan år 2000 och år 2019. Vidare tillämpar studien en i forskning om företags överlevnad tidigare mindre beprövad statistisk metod: i korthet undersöker studien företag och öarna där de finns, som om dessa vore enskilda ”individer”. Dessa ”individer” följs från sin födsel –från att de bildas – till dess att de dör, det vill säga läggs ned. Under tiden ”individerna” följs, så undersöks även vilken betydelse de yttre betingelserna på öarna liksom faktorer i företagens omgivning har för deras överlevnadsförmåga. Specifikt studeras 1 341 företag på 17 av Stockholms skärgårdens öar (kärnöar).

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Yes / This study investigates the relationship between internal corporate governance mechanisms and firm survival during a financial crisis. Using a sample of FTSE 350 listed companies for the time period 2003–2010, our results show significant differences in the corporate governance mechanisms of firms that survived and those that failed during the 2007–2009 financial crisis. The findings indicate that compliance with the UK Corporate Governance Code is negatively associated with the survival of firms when they experience exogenous shocks. However, the existence of insider CEOs and a higher number of board committees in organisations increase the chances of survival during an economic downturn. These findings have policy implications and show that non-compliance with a prescribed code of corporate governance does not necessarily lead to poor governance. Moreover, the establishment of extra board committees and CEO succession planning are shown as important dynamics in firms’ strategic decisions, as they have implications for the survival of firms during difficult economic conditions.

This dissertation explores how logic duality, that is the coexistence of two institutional logics in an industry, affects firm strategic behaviors, and how in return firm strategic behaviors contribute (or not) to maintain logics segregated. Theoretically, I investigate the liability firms face when entering industries governed by a different logic, the wayincumbent organizations respond to the conformity demands of logic foreigners, and the determinants of firm-level institutional capital. Empirically, I study investment funds, filmmaking organizations and production firms in the French film industry (1987-2008), and find strong support for the proposed theory. By revealing strategies available to firms in dual-logicsettings and highlighting sources of institutional capital, this study contributes to the strategic management literature. The result is also a contribution to our understanding of why industries resist the "inexorable push towards homogenization" predicted by new institutional theory. By shedding light on the positive and negative effects of logic duality for firms, this work has also implications for practice.

新竹科學園區對我國的社經發展有著卓越的貢獻，就2006年的統計數據來看，年營業額佔全國工業生產毛額的比率約35%，佔台灣GDP的比率則將近10%，佔全國出口貿易總值的8%，就業人數則約佔全國就業者的1.2%，其實質重要性可見一般，所以竹科廠商的存活是與全國、地方的社經發展緊密交織無可劃分，竹科廠商的退出可能會造成經濟成長停滯、工作機會短少、政策資源錯置等問題。 既有研究多半強調竹科成功的要素，但往往會使我們將目光只放在成功廠商，而忽視廠商退出竹科的現象，又或者未正視高科技產業的特質之一：高風險，因此本研究將試圖運用事件史分析來捕捉在竹科特殊的產業生態中，高科技產業其風險的真正面貌，並運用資源基礎、資源依賴以及組織生態學的觀點來探討竹科的不同廠商所涉風險之影響因素。 / The Hsinchu science park has made remarkable contributions to Taiwan’s development, so far as statistics in 2006, the annual sales volume takes up 35% of the national industrial production volume, nearly 10% of Taiwan’s GDP, it also accounts for 8% of the national export trade. The employment of the Hsinchu science park takes up 1.2% of the total employment of Taiwan. Its significant importance is easy to be understood fully at a glance, so the survival of firms in the Hsinchu science park interweaved with Taiwan’s society and development. Firm exit not only makes the working opportunity deficient, but also affect the usage of policy resources and the socio-economic development of Taiwan. Academic researches about the Hsinchu science park only emphasized the successful element, placed sight on the successful manufacturer, and ignored the phenomenon that some firms have exited from the Hsinchu science park. Actually, one characteristic of the Hi-Tech industry was high risk. So this research will attempt to use the event history analysis to realize firm survival in the Hsinchu science park, catch the real risk of Hi-Tech industry and understand the important factor that effect firm exit from the Hsinchu science park through resource-based theory, resource dependency theory, and organizational ecology perspective.

Cette thèse explore l’effet de la coexistence de deux logiques institutionnelles au sein d’une industrie sur le comportement stratégique des entreprises et, en retour, l’impact du comportement stratégique des entreprises sur la persistance (ou non) de deux logiques distinctes. Un cadre théorique est proposé pour expliquer les désavantages dont souffrent lesentreprises qui pénètrent une industrie gouvernée par une logique différente, la manière dont les organisations en place répondent aux demandes de ces entreprises porteuses d’une logique étrangère et enfin les facteurs influençant la formation du capital institutionnel des entreprises. Une analyse empirique des fonds d’investissements, des organisations en charge de la production et des entreprises de production dans l’industrie cinématographique française (1987-2008) vient conforter les prédictions théoriques proposées. Cette thèse contribue à la littérature en management stratégique en dévoilant un ensemble de stratégies à la disposition des entreprises dans une industrie où deux logiques s’affrontent. Elle contribue également à expliquer pourquoi certaines industries résistent à l’inexorable homogénisation prédite par la théorie néo-institutionnelle. En dévoilant les effets positifs et négatifs de la dualité de logiques sur les entreprises, cette étude offre également des enseignements pour la pratique managériale. / This dissertation explores how logic duality, that is the coexistence of two institutional logics in an industry, affects firm strategic behaviors, and how in return firm strategic behaviors contribute (or not) to maintain logics segregated. Theoretically, I investigate the liability firms face when entering industries governed by a different logic, the wayincumbent organizations respond to the conformity demands of logic foreigners, and the determinants of firm-level institutional capital. Empirically, I study investment funds, filmmaking organizations and production firms in the French film industry (1987-2008), and find strong support for the proposed theory. By revealing strategies available to firms in dual-logicsettings and highlighting sources of institutional capital, this study contributes to the strategic management literature. The result is also a contribution to our understanding of why industries resist the “inexorable push towards homogenization” predicted by new institutional theory. By shedding light on the positive and negative effects of logic duality for firms, this work has also implications for practice.

This dissertation focuses on the formation, growth and discontinuance of business populations and firms in Sweden during the 20th century. It addresses some key issues in the domain of economic and social sciences, and in particular entrepreneurship and small business research: if and when firms grow, stagnate and decline, as well as how long firms survive and when they are likely to disband. Previous research has primarily analyzed these questions from a short time frame. Further, an individual or firm-oriented focus is commonly assumed. In that, alternative or complementary explanations to the growth and survival of firms may be disregarded. In contrast to much previous research, this dissertation assumes a micro-to-macro, longitudinal and demographic population approach. The period of investigation is over one hundred years. In addressing the growth and survival of firms, it takes into account the impact of firm-specific structural factors (such as firm age and size), generation (cohort) effects, as well as the influence of macroeconomic, exogenous factors. Further, the relationship between managerial/ownership succession and firm performance is also addressed. Both cross-sectional and longitudinal databases are employed in the dissertation. Its main empirical material consists of unique longitudinal data on new business firms, traced at the firm level from their birth to their termination. More specifically, seven birth cohorts – generations – of approximately 2,200 firms founded in 1899, 1909, 1912, 1921, 1930, 1942 and 1950 are included. The main findings show that ownership/management succession in firms had a quite weak correlation with firm performance and survival. At least at an aggregate level, and with some exceptions, it is debatable if the loss and replacement of owner-managers in small and in larger firms have any observable effects on firm performance. Furthermore, macroeconomic phenomena influence the conditions of individual firms as well as populations/aggregates of businesses. Both the growth and termination of firms and firm populations are found to be related to real economic (environmental) conditions; e.g. favorable macroeconomic conditions implied that firms grew in size. At the same time, under certain circumstances, the influence of structural variables (firm age and size) – as suggested in much previous research – is found to be of importance. As concerns firm growth, as well as firm termination, the economic environment and structural factors interact. These findings challenges individual or firm-level research that mainly focus on personal traits and behaviors in explaining firm success and failure. Other previous assumptions are also challenged when taking a longer time perspective into consideration. For decades, organization and business research have acknowledged a liability of newness and of size for business firms. While this might be true under some conditions, this liability of newness is falsified in the study: the termination behavior of some firm generations did not correspond with these assumptions. Thus, the perspectives and methodology applied in the dissertation complement earlier approaches in entrepreneurship and small business research.