Regional Path Breaking: The Role of Industry Switching, Industry Diversity, and New Knowledge in New Venture Exit
研究了本地竞争和路径依赖对新企业退出压力的影响，发现新知识、行业多样性和行业转换能缓解这种压力，基于美国355个都市区2002-2010年数据验证。
Regions with spatial concentrations of businesses create conditions that spawn new firms, but also undercut new venture survival. Localized competition puts pressure on new firms to exit. Adding to this pressure to exit is regional path dependence, which limits the ability of firms to respond strategically to hostile local conditions. We investigate the extent to which the pressure to exit created by localized competition is moderated by three “path breaking” factors—new knowledge, industry diversity, and industry switching. We test and find broad support for our hypotheses using data from 355 metropolitan statistical areas in the United States spanning 2002 to 2010.