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The Determinants of Regional Variation in New Firm Formation

✍ Scribed by Armington, Catherine; Acs, Zoltan J.

Book ID
111983091
Publisher
Taylor and Francis Group
Year
2002
Tongue
English
Weight
239 KB
Volume
36
Category
Article
ISSN
0034-3404

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This paper focuses on entry of small firms in the manufacturing industries. It is argued that the exit option can be viewed as an insurance against risks of failure, increasing the likelihood of entry in an uncertain environment; the result is implicit in recent stochastic models of competition and