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          Institute: MPI für Ökonomik     Collection: Entrepreneurship, Growth and Public Policy Group     Display Documents



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ID: 334916.0, MPI für Ökonomik / Entrepreneurship, Growth and Public Policy Group
The Determinants of New-firm Survival across Regional Economies
Authors:Acs, Zoltan J.; Armington, Catherine; Zhang, Ting
Language:English
Place of Publication:Jena
Publisher:Max-Planck-Institut für Ökonomik
Date of Publication (YYYY-MM-DD):2007
Total Number of Pages:39
Title of Series:Papers on Entrepreneurship, Growth and Public Policy
Issue / Number:0704
Corporate Body (Series Editor):Max-Planck-Institut für Ökonomik
Copyright:2007
Review Status:Internal review
Audience:Not Specified
Abstract / Description:Motivated by differences in new-firm survival across regions, this paper explores the impact of regional human capital on new-firm survival rates. New-firm survival is interpreted through formation rates of surviving versus closed firms in the service sector. By incorporating knowledge spillovers through a geographical variation model for Labor Market Areas, we empirically test the relationship between regional human capital stocks and new-firm survival. The expected positive relationship between regional human capital and new-firm survival is supported for the period 1993-1995, but is not as strong for the recession period 1990-1992. Controlling for human capital, the new-firm survival rate is negatively related to service sector specialization and positively related to all industry intensity, suggesting that city size and diversity may be an important determinant of new-firm survival in both periods.
Free Keywords:new-firm survival; human capital; knowledge spilloves; entrepreneurship; labor market area
Classification / Thesaurus:JEL Classification: R1; L80; J24; M13; O3
External Publication Status:published
Document Type:Paper
Communicated by:David B. Audretsch
Affiliations:MPI für Ökonomik/Abteilung Entrepreneurship, Growth and Public Policy
Identifiers:ISSN:1613-8333
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