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Duration of new firms: The role of startup financial conditions, industry and aggregate factors

✍ Scribed by Kim P. Huynh; Robert J. Petrunia; Marcel Voia

Book ID
119373955
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
326 KB
Volume
23
Category
Article
ISSN
0954-349X

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## Abstract We introduce a computational model of the evolution of a value‐maximizing research‐based pharmaceutical firm and parameterize it using estimates of R&D costs, profit distributions, and candidate attrition rates. We use the model to estimate how the probability of surviving and covering