EconStor >
Max-Planck-Institut für Ökonomik, Jena >
Papers on Economics and Evolution, MPI für Ökonomik >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/20024
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorStam, Eriken_US
dc.contributor.authorGarnsey, Elizabethen_US
dc.date.accessioned2009-01-28T16:10:32Z-
dc.date.available2009-01-28T16:10:32Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/20024-
dc.description.abstractThis paper explores and explains the emergence and growth of new firms in the knowledge economy. The resource-based view, capabilities approach, and evolutionary economics are used as a foundation for a developmental approach. The development of the firm is conceptualized in terms of processes that include opportunity recognition, resource mobilization, resource generation and resource accumulation, which lead to the development of competences and capital in a base made up of productive, commercial and financial resources. Problems originating within or outside the firm may deplete the productive, commercial and asset base, leading to turning points in the life course of these firms. These have negative consequences when problems are not solved, but positive consequences when they lead to new solutions and the development of new competence. The empirical study shows that even in an elite sample of young fast-growing firms, most firms face turning points in their life course, and thus do not grow in a continuous way. The study shows that quantitative growth indicators do not always reveal growth problems that have been faced by new firms. Some problems do not negatively affect the employment growth of the firm, and other problems are solved before growth stagnates. The qualitative analysis shows that young firms are almost always in disequilibrium: there is almost never a perfect match between the constituents of their resource base, between input resources and requirements for expansion. This explains why continuous growth is so unlikely. Although every firm seems to grow in a unique manner, there is evidence for the presence of a limited set of necessary mechanisms for the growth of (new) firms, which work out in particular ways given the specific context and history of these firms.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesPapers on economics & evolution 0505en_US
dc.subject.jelD21en_US
dc.subject.jelM13en_US
dc.subject.jelL23en_US
dc.subject.jelD92en_US
dc.subject.jelM21en_US
dc.subject.ddc330en_US
dc.subject.keywordNew firmsen_US
dc.subject.keywordfirm growthen_US
dc.subject.keywordtheory of the firmen_US
dc.subject.keywordresource based viewen_US
dc.subject.keywordfirm life courseen_US
dc.subject.keywordorganizational crisesen_US
dc.subject.keywordknowledge economyen_US
dc.subject.stwUnternehmensgründungen_US
dc.subject.stwLebenszyklusen_US
dc.subject.stwUnternehmenswachstumen_US
dc.subject.stwInformationsgesellschaften_US
dc.titleNew Firms Evolving in the Knowledge Economy; problems and solutions around turning pointsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn495264199en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Papers on Economics and Evolution, MPI für Ökonomik

Files in This Item:
File Description SizeFormat
2005-05.pdf224.45 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.