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Learning from Failure: Organizational Mortality and the Resource-based View
Issue information
This paper examines the factors underlying firm failure, and compares the failure mechanisms for young firms against those of older organizations. This paper suggests that there are systematic differences between the determinants of firm failure for firms that fail early in life and those that fail after having successfully negotiated the early liabilities of newness and adolescence. Data from 339 Canadian corporate bankruptcies confirm that younger firms fail because of inadequacies in managerial knowledge and financial management abilities. On the other hand, older firms are more likely to fail because of an inability to adapt to environmental change.
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| Product: | Analytical Studies Branch Research Paper Series | ||
| Catalogue no.: | 11F0019MIE2003202 | ||
| Frequency: | Occasional | ||
| Status: | Ongoing/Available | ||
| Latest issue: | no. 202 | Free | |
| Release date: | August 8, 2003 | ||
| Authors: | Thornhill, Stewart Amit, Raphael | ||
| Subscription: | one year (365 days) | N/A | |
| System requirements: | Internet browser. Adobe Acrobat reader is required to view and print files in PDF format. | ||
Subjects
Entry, exit, mergers and growth
Financial statements and performance
Small and medium-sized businesses
Keywords
analytical products, bankruptcies, organizations, size of business.
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