Product Innovation and Survival in a High-Tech Industry

Roberto Fontana and Lionel Nesta

No 208, KITeS Working Papers from KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy

Abstract: We investigate the relationship between product innovation and firm survival for a sample of 121 firms in a high-tech industry. We find that location near the technological frontier is an important determinant of fim survival. Firms located near the frontier are also more likely to be acquired than to exit by failure if they cannot survive. This suggests that product location in the technology space acts as a signal of firm quality. Possessing a substantial stock of intangible capital, on the other hand, determines neither exit via failure nor exit via acquisition, although it increases the probability of surviving.

Keywords: Product innovation; survival; high-tech industry (search for similar items in EconPapers)
JEL-codes: L25 L63 O32 (search for similar items in EconPapers)
Pages: pages 34
Date: 2007-12, Revised 2007-12
New Economics Papers: this item is included in nep-com, nep-ent, nep-ino, nep-ipr, nep-pr~, nep-mic and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Product Innovation and Survival in a High-Tech Industry (2009)
Working Paper: Product Innovation and Survival in a High-Tech Industry (2007)
Working Paper: Product Innovation and Survival in a High-Tech Industry (2007)
Working Paper: Product Innovation and Survival in a High-Tech Industry (2007)
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