Learning About Failure: Bankruptcy, Firm Age, and the Resource-Based View

References

  • Aldrich H. E., Auster E. R. Even dwarfs started small: Liabilities of age and size and their strategic implications. Res. Organ. Behavior (1986) 8(1):165–198Google Scholar
  • Amburgey T. L., Kelly D., Barnett W. P. Resetting the clock: The dynamics of organizational change. Admin. Sci. Quart. (1993) 38:51–73CrossrefGoogle Scholar
  • Amit R., Schoemaker P. J. H. Strategic assets and organizational rent. Strategic Management J. (1993) 14:33–46CrossrefGoogle Scholar
  • Baldwin J., Gray T., Johnson J., Proctor J., Rafiquzzaman M., Sabourin D.Failing Concerns: Business Bankruptcy in Canada (1997) (Minister of Industry, Ottawa, Canada) Google Scholar
  • Barney J. B. Firm resources and sustained competitive advantage. J. Management (1991) 17(1):99–120CrossrefGoogle Scholar
  • Barron D. N., West E., Hannan M. T. A time to grow and a time to die: Growth and mortality of credit unions in New York City: 1914–1990. Amer. J. Sociology (1994) 100:381–421CrossrefGoogle Scholar
  • Bates T. Entrepreneur human capital inputs and small business longevity. Rev. Econom. Statist. (1990) 72:551–559CrossrefGoogle Scholar
  • Bates T., Nucci A. An analysis of small business size and rate of discontinuance. J. Small Bus. Management (1989) 27(4):1–7Google Scholar
  • Baum J. A. C., Oliver C. Institutional linkages and organizational mortality. Admin. Sci. Quart. (1991) 36:187–218CrossrefGoogle Scholar
  • Boardman C. M., Bartley J. W., Ratliff R. B. Small business growth characteristics. Amer. J. Small Bus. (1981) 5(Winter):33–42CrossrefGoogle Scholar
  • Bruderl J., Schussler R. Organizational mortality: The liability of newness and adolescence. Admin. Sci. Quart. (1990) 35:530–547CrossrefGoogle Scholar
  • Bruderl J., Preisendorfer P., Ziegler R. Survival chances of newly founded business organizations. Amer. Sociological Rev. (1992) 57:227–242CrossrefGoogle Scholar
  • Brush C. G., Chaganti R. Businesses without glamour? An analysis of resources on performance by size and age in small service and retail firms. J. Bus. Venturing (1999) 14:233–257CrossrefGoogle Scholar
  • Carroll G. R. A stochastic model of organizational mortality: Review and reanalysis. Soc. Sci. Res. (1983) 12:303–329CrossrefGoogle Scholar
  • Carroll G. R., Delacroi J. Organizational mortality in the newspaper industries of Argentina and Ireland: An ecological approach. Admin. Sci. Quart. (1982) 27:169–198CrossrefGoogle Scholar
  • Carroll G. R., Huo Y. P. Organizational task and institutional environments in evolutionary perspective: Findings from the local newspaper industry. Amer. J. Sociology (1986) 91:838–873CrossrefGoogle Scholar
  • Carter N. M., Williams M., Reynolds P. D. Discontinuance among new firms in retail: The influence of initial resources, strategy, and gender. J. Bus. Venturing (1997) 12:125–145CrossrefGoogle Scholar
  • Castanias R., Helfat C. Managerial resources and rents. J. Management (1991) 17(1):155–171CrossrefGoogle Scholar
  • Christensen C. M.The Innovators Dilemma (1997) (Harvard Business School Press, Cambridge, MA) Google Scholar
  • Cochrane A. B. Small business mortality rates: A review of the literature. J. Small Bus. Management (1981) 19(4):50–59Google Scholar
  • Coff R. W. Human assets and management dilemmas: Coping with hazards on the road to resource-based theory. Acad. Management Rev. (1997) 22(2):374–402CrossrefGoogle Scholar
  • Conner K. R. A historical comparison of resource-based theory and five schools of thought within industrial organization economics: Do we have a new theory of the firm? J. Management (1991) 17:121–154CrossrefGoogle Scholar
  • Cooper A. C., Gimeno-Gascon F. J., Woo C. Y. Initial human and financial capital as predictors of new venture performance. J. Bus. Venturing (1994) 9:371–395CrossrefGoogle Scholar
  • Daily C. M. The relationship between board composition and leadership structure and bankruptcy reorganization outcomes. J. Management (1995) 21:1041–1056CrossrefGoogle Scholar
  • D'Aveni R. A. Dependability and organizational bankruptcy: An application of agency and prospect theory. Management Sci. (1989) 35(9):1120–1138LinkGoogle Scholar
  • Delacroix J., Swaminathan A. Cosmetic, speculative, and adaptive organizational change in the wine industry: A longitudinal study. Admin. Sci. Quart. (1991) 36:631–636CrossrefGoogle Scholar
  • Dunne T., Roberts M. J., Samuelson L. Patterns of firm entry and exit in U.S. manufacturing industries. Rand J. Econom. (1988) 19(4):495–515CrossrefGoogle Scholar
  • Fichman M., Levinthal D. A. Honeymoons and the liability of adolescence: A new perspective on duration dependence in social and organizational relationships. Acad. Management Rev. (1991) 16:442–468CrossrefGoogle Scholar
  • Fredland J. E., Morris C. E. A cross-sectional analysis of small business failure. Amer. J. Small Bus. (1976) 1(1):7–18CrossrefGoogle Scholar
  • Freeman J., Carrol G. R., Hannan M. T. The liability of newness: Age dependence in organization death rates. Amer. Sociological Rev. (1983) 48:692–710CrossrefGoogle Scholar
  • Gaskill L. R., Van Auken H. E., Manning R. A. A factor analytic study of the perceived causes of small business failure. J. Small Bus. Management (1993) 31(4):18–31Google Scholar
  • Ghemawat P.Commitment: The Dynamic of Strategy (1991) (The Free Press, New York) Google Scholar
  • Gimeno J., Folta T. B., Cooper A. C., Woo C. Y. Survival of the fittest? Entrepreneurial human capital and the persistence of underperforming firms. Admin. Sci. Quart. (1997) 42:750–783CrossrefGoogle Scholar
  • Hall G. Reasons for insolvency amongst small firms—A review and fresh evidence. Small Bus. Econom. (1992) 4:237–250CrossrefGoogle Scholar
  • Hall G. Factors distinguishing survivors from failures amongst small firms in the U.K. construction sector. J. Management Stud. (1994) 31:737–760CrossrefGoogle Scholar
  • Hambrick D. C., D'Aveni R. A. Large corporate failures as downward spirals. Admin. Sci. Quart. (1988) 33:1–23CrossrefGoogle Scholar
  • Hamilton L. C.Regression with Graphics (1992) (Duxbury Press, Belmont, CA) Google Scholar
  • Hannan M. T., Freeman J. The population ecology of organizations. Amer. J. Sociology (1977) 82:929–964CrossrefGoogle Scholar
  • Hannan M. T., Freeman J. Structural inertia and organizational change. Amer. Sociological Rev. (1984) 49:149–164CrossrefGoogle Scholar
  • Harrigan K. R.Strategic Flexibility (1985) (D.C. Heath and Co., Lexington, MA) Google Scholar
  • Harrigan K. R.Managing Maturing Businesses (1988) (D.C. Heath and Co., Lexington, MA) Google Scholar
  • Henderson A. D. Firm strategy and age dependence: A contingent view of the liabilities of newness, adolescence, and obsolescence. Admin. Sci. Quart. (1999) 44:281–314CrossrefGoogle Scholar
  • Jovanovic B. Selection and the evolution of industry. Econometrica (1982) 50(4):649–670CrossrefGoogle Scholar
  • Kalleberg A. L., Liecht K. T. Gender and organizational performance: Determinants of small business survival and success. Acad. Management J. (1991) 34:136–161CrossrefGoogle Scholar
  • Keasey K., Watson R. Non-financial symptoms and prediction of small company failure: A test of Argenti's hypothesis. J. Bus. Finance Accounting (1987) 14:335–354CrossrefGoogle Scholar
  • Larson C. M., Clute R. C. The failure syndrome. Amer. J. Small Bus. (1979) 4(2):35–43CrossrefGoogle Scholar
  • Leonard-Barton D. Core capabilities and core rigidities: A paradox in managing new product development. Strategic Management J. (1992) 13(Special Issue):111–126CrossrefGoogle Scholar
  • Levinthal D. A. Random walks and organizational mortality. Admin. Sci. Quart. (1991) 36:397–420CrossrefGoogle Scholar
  • Lippman S. A., Rumelt R. P. Uncertain imitability: An analysis of interfirm differences in efficiency under competition. Bell J. Econom. (1982) 13(2):418–438CrossrefGoogle Scholar
  • Litvak I. A., Maule C. J. Entrepreneurial success or failure—Ten years later. Bus. Quart. (1980) 45(4):68–78Google Scholar
  • Lussier R. N. A nonfinancial business success versus failure prediction model for young firms. J. Small Bus. Management (1995) 33(1):8–20Google Scholar
  • McGrath R. G. Falling forward: Real options reasoning and entrepreneurial failure. Acad. Management Rev. (1999) 24(1):13–30CrossrefGoogle Scholar
  • McKinlay R. A. Some reasons for business failures in Canada. Cost Management (1979) 53(3):17–21Google Scholar
  • Mitchell W. Dual clocks: Entry order influences on incumbent and newcomer market share and survival when specialized assets retain their value. Strategic Management J. (1991) 12:85–100CrossrefGoogle Scholar
  • Mitchell W. The dynamics of evolving markets: The effects of business sales and age on dissolutions and divestitures. Admin. Sci. Quart. (1994) 39:575–602CrossrefGoogle Scholar
  • Mitchell W., Shaver J. M., Yeung B. Foreign entrant survival and foreign market share: Canadian companies’ experience in United States medical sector markets. Strategic Management J. (1994) 15:555–567CrossrefGoogle Scholar
  • Moulton W. N., Thomas H. Bankruptcy as a deliberate strategy: Theoretical consideration and empirical evidence. Strategic Management J. (1993) 14:125–135CrossrefGoogle Scholar
  • O'Neill H. M., Duker J. Survival and failure in small business. J. Small Bus. Management (1986) 24(1):30–37Google Scholar
  • Pennings J. M., Lee K., Witteloostujin A. Human capital, social capital, and firm dissolution. Acad. Management J. (1998) 41:425–440CrossrefGoogle Scholar
  • Phillips B. D., Kirchhoff B. A. Formation, growth, and survival: Small firm dynamics in the U.S. economy. Small Bus. Econom. (1989) 1(1):65–74CrossrefGoogle Scholar
  • Preisendorfer P., Voss T. Organizational mortality of small firms: The effects of entrepreneurial age and human capital. Organ. Stud. (1990) 11(1):107–129CrossrefGoogle Scholar
  • Ranger-Moore J. Bigger may be better, but is older wiser? Organizational age and size in the New York life insurance industry. Amer. Sociological Rev. (1997) 62:903–920CrossrefGoogle Scholar
  • Rumelt R. P., Lamb R. Towards a strategic theory of the firm. Competitive Strategic Management (1984) (Prentice-Hall, Englewood Cliffs, NJ) Google Scholar
  • Rumelt R. P., Teece D. Theory, strategy and entrepreneurship. The Competitive Challenge (1987) (Ballinger, Cambridge, MA) Google Scholar
  • Rumelt R. P. How much does industry matter? Strategic Management J. (1991) 12:167–185CrossrefGoogle Scholar
  • Singh J. V., House R. J., Tucker D. J. Organizational change and organizational mortality. Admin. Sci. Quart. (1986a) 31:587–611CrossrefGoogle Scholar
  • Singh J. V., Tucker D. J., House R. J. Organizational legitimacy and the liability of newness. Admin. Sci. Quart. (1986b) 31:171–193CrossrefGoogle Scholar
  • Sitkin S. B., Staw B. M., Cummings L. L. Learning through failure: The strategy of small losses. Res. Organ. Behavior (1992) 14(JAI Press, Greenwich, CT) 231–266Google Scholar
  • Sorensen J. B., Stuart T. E. Aging, obsolescence and organizational innovation. Admin. Sci. Quart. (2000) 45:81–112CrossrefGoogle Scholar
  • Stearns T. M., Carter N. M., Reynolds P. D., Williams M. New firm survival: Industry, strategy and location. J. Bus. Venturing (1995) 10:23–42CrossrefGoogle Scholar
  • Stinchcombe A. L., March J. G. Organizations and social structure. Handbook of Organizations (1965) (Rand-McNally, Chicago, IL) Google Scholar
  • Teece D. J., Pisano G., Shuen A. Dynamic capabilities and strategic management. Strategic Management J. (1997) 18:509–533CrossrefGoogle Scholar
  • Thornhill S., Amit R., Reynolds P., et al. Growth management of emergent firms in Canada. Frontiers of Entrepreneurship Research (1998) (Babson College, Babson Park, MA) 381–392Google Scholar
  • Thornhill S., Amit R., Bresser R., et al. Young firm growth: An analysis of strategy and context. Winning Strategies in a Deconstructing World (2000) (John Wiley & Sons, Sussex, U.K.) Google Scholar
  • Venkataraman S., Van de Ven A. H., Buckeye J., Hudson R. Starting up in a turbulent environment: A process model of failure among firms with high customer dependence. J. Bus. Venturing (1990) 5:277–295CrossrefGoogle Scholar
  • Wernerfelt B. A resource-based view of the firm. Strategic Management J. (1984) 5:171–180CrossrefGoogle Scholar
  • Wichman H. Accounting and marketing—Key small business problems. Amer. J. Small Bus. (1983) 7:19–26CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.