To survive or succeed? : An analysis of biotechnology firms
Pajunen, K., & Järvinen, J. (2018). To survive or succeed? : An analysis of biotechnology firms. Small Business Economics, 51(3), 757-771. https://doi.org/10.1007/s11187-017-9963-6
Published inSmall Business Economics
DisciplineBasic or discovery scholarshipStrategia ja yrittäjyysBasic or discovery scholarshipStrategy and Entrepreneurship
© Springer Science+Business Media, LLC, part of Springer Nature 2017
In this paper, we address the question whether there exists differences in the determinants that support survival versus success of small and medium-sized high-tech firms. We examine this question in the context of Finnish biotechnology industry by analyzing the survival of all dedicated biotechnology firms in the period of 1978–2008. We argue and show that the success and survival of firms are not necessarily driven by similar determinants. Specifically, we find that while the role of different types of alliances, focused market scope as well as legitimacy of the industry seem to be important both ensuring in survival and enhancing successful performance, determinants related to sources of financing, clustering and patenting show differences in terms of how they to relate on survival and success.
PublisherSpringer New York LLC
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