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Knowledge Compensation in the German Automobile Industry

[journal article]

Cantner, Uwe; Krüger, Jens; Rhein, Kristina von

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Abstract In studies looking at firm survival over the industry life cycle knowledge is one of the most important determinants. Different kinds of knowledge, namely post-entry experience, pre-entry experience, and knowledge acquired by innovative activity positively influence the sur-vival chances. This paper investigates how the kinds of knowledge are able to compensate each other. Therefore, a statistical survival analysis is performed for the German automobile industry (1886-1939) which applies an estimation approach that links instrumental variables with the Cox regression. The results highlight that innovative activity is able to compensate for lacking post-entry experience, supporting Schumpeterian creative destruction.
Classification National Economy; Economic Sectors
Document language English
Publication Year 2009
Page/Pages p. 2941-2951
Journal Applied Economics (2009)
ISSN 1466-4283
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)