Articlegreen2003

Learning About Failure: Bankruptcy, Firm Age, and the Resource-Based View

727 citations0/0 files storedOrganization Science

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Corporate Insolvency and Governance Firm Innovation and Growth Financial Distress and Bankruptcy Prediction

Abstract

Systematic differences in the determinants of firm failure between firms that fail early in their life and those that fail after having successfully negotiated the early liabilities of newness and adolescence are identified. Analysis of data from 339 Canadian corporate bankruptcies suggests that failure among younger firms may be attributable to deficiencies in managerial knowledge and financial management abilities. Failure among older firms, on the other hand, may be attributable to an inability to adapt to environmental change.

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References

1991Firm Resources and Sustained Competitive Advantage 2004Firm resources and sustained competitive advantage 1997Dynamic capabilities and strategic management 1984A resource‐based view of the firm 1988Large Corporate Failures as Downward Spirals

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