Entry, Innovation and Exit from LAN Switch Industry

Roberto Fontana and Lionel Nesta

Working Papers from HAL

Abstract: We investigate whether the form of exit is triggered by the form of entry and technical expertise, an exercise which has been persistently missing in the literature, for a sample of 121 firms in the LAN switch industry. We find that pre-entry experience, technical expertise, and intangible assets are important determinants of firm survival. Extending the analysis to the case of heterogeneous exit, we find that firms with high pre-entry experience and higher technical expertise are more likely to exit by acquisition than by failure. Conversely, possessing a larger intangible capital and previous experience in related markets does not lead to a higher probability of being acquired.

Date: 2007-01
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Working Paper: Entry, Innovation and Exit from LAN Switch Industry (2007)
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