New Firm Survival: Institutional Explanations for New Franchisor Mortality
通过分析1979-1996年间美国1292家新特许经营商的生存数据，发现制度合法性补充了经济解释，说明新企业生存需要兼顾社会因素。
Why do some new firms succeed and others fail? Economists argue that new firms fail because entrepreneurs inefficiently manage production and organizational design (Williamson 1985). Sociologists (e.g., Granovetter 1985) have typically viewed this explanation as undersocialized, and argue that institutional legitimacy must also be considered to explain the survival of new firms. This paper examines the survival of 1292 new franchisors established in the United States from 1979–1996. The results show that institutional legitimacy adds to economic explanations for the survival of new franchisors and suggests the importance of a properly socialized explanation.