On the Dynamics of Organizational Mortality: Age Dependence Revisited

Gael Le Mens, Michael T. Hannan and Laszlo Polos
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Gael Le Mens: Universitat Pompeu Fabra
Michael T. Hannan: Stanford University
Laszlo Polos: Durham University

Research Papers from Stanford University, Graduate School of Business

Abstract: This paper proposes a novel theoretical framework to model the dynamics of organizational mortality. The main theoretical contribution is a clarification of the relations between organizational fitness, endowment, organizational capital and mortality hazard. If the mortality hazard is a function of the stock of organizational capital, and the rate of accumulation of organizational capital is a function of the level of organizational fitness, organizational fitness becomes the key factor in predicting the evolution of the mortality hazard. The paper demonstrates how this new perspective can cast a new light on the much studied relation between organizational age and the hazard of organizational mortality.

Date: 2010-08
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