Knowledge Compensation in the German Automobile Industry

Uwe Cantner (), Kristina Dreßler () and Jens J. Krüger
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Kristina Dreßler: University of Jena, Faculty of Economics
Jens J. Krüger: University of Jena, Faculty of Economics
Authors registered in the RePEc Author Service: Jens J. Krüger ()

No 11/2005, Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) from Friedrich Schiller University of Jena, School of of Economics and Business Administration

Abstract: Knowledge is one of the most important determinants in single-industry studies of firm survival over the life cycle. Different kinds of knowledge, namely post-entry experience, pre-entry experience, and knowledge acquired by innovative activity positively influence the survival chances of firms. This paper investigates how the kinds of knowledge are able to compensate for each other. Therefore, a statistical survival analysis is performed for the German automobile industry which applies a new approach that combines the Cox regression with instrumental variable estimation. The results show that innovative activity is able to compensate for lacking post-entry experience, supporting Schumpeterian creative destruction.

Keywords: firm survival; patents; innovation; automobile industry; hazard rates (search for similar items in EconPapers)
JEL-codes: C41 L10 L62 O33 (search for similar items in EconPapers)
Date: 2005-09-26
New Economics Papers: this item is included in nep-bec, nep-ent, nep-ino and nep-tid
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Working Paper: Knowledge Compensation in the German Automobile Industry (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:jen:jenasw:2005-11

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