Reasons for the Failure of New Technology-Based Firms: A Longitudinal Empirical Study for Germany

Pinkwart, Andreas; Proksch, Dorian; Schefczyk, Michael; Fiegler, Torsten; Ernst, Cornelia

doi:10.3790/ccm.48.4.597

Cited by 8 publications

(9 citation statements)

References 23 publications

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“…In addition, Lee and Tsang (2001) confirmed that an entrepreneur's industry and managerial experience have a great effect on the venture growth of SMEs. Pinkwart et al (2015) investigated the reasons for the failure of new technology-based firms and cited management variables, i.e., the abilities of the entrepreneur, as one significant explanatory factor of failure. Additionally, Bates (1990) noted that education is the strongest human capital variable for the business continuance of newly founded firms.…”

Section: Experience Of the Entrepreneurmentioning

confidence: 99%

“…When analysing the extant literature, it becomes clear that as soon as entrepreneurial traits are taken into account, research delves into the survival of new ventures (Brüderl et al, 1992;Schutjens and Wever, 2000) and firm growth (Cooper et al, 1994;Lee and Tsang, 2001). Other studies have examined the causes of bankruptcy or financial distress (e.g., Carter and Van Auken, 2006;Madrid-Guijarro et al, 2011;Ooghe and de Prijcker, 2008;Pinkwart et al, 2015). Research on entrepreneurship and crises is also characterised by a proclivity towards studying the impact of external crises, mostly ignoring internally-induced crises (Doern et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…Hence, the entrepreneur is crucial for organisational development and success (Brüderl et al, 1992). In the world of start-ups and high-risk ventures, business failure has become pervasive (Pinkwart et al, 2015). Entrepreneurs and their stakeholders therefore need to know how to overcome financial crises and reorganise their businesses.…”

Section: Introductionmentioning

confidence: 99%

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Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment

Mayr

Mitter

Duller

et al. 2021

IJEV

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We examine how entrepreneur experience, characteristics and commitment impact the success of a firm's reorganisation. We refer to the resource-based view and upper echelons theory as a theoretical basis. Empirical research is based on a sample of 158 bankrupt Austrian small-and mediumsized enterprises (SMEs). To test our model, we applied bivariate analyses and logistic regression. The personality of the entrepreneur, in particular strong dynamic-creative talents, as well as concentrated ownership and financial

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Section: Experience Of the Entrepreneurmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment

Mayr

Mitter

Duller

et al. 2021

IJEV

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“…Parsa et al (2011) state that the variables location, affiliation, and size have a significant impact on restaurant failure. Pinkwart et al (2015) analyzed the determinants for the business failure of German New Technology-Based Firms (NTBF) in different financial stages. They showed that the different financial states should be analyzed separately when determining factors of business failure.…”

Section: Literature Reviewmentioning

confidence: 99%

Bankruptcy prediction and homogeneity of firm samples: The case of Greece

Nikolaos¹,

Chytis²,

Georgios³

2018

J. Account. Taxation

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This paper explores the prediction of bankruptcy of Greek retail and wholesale trade companies and, in particular, the relation between the forecasting ability of the Logit model and the degree of homogeneity of the samples of bankrupt and healthy companies. A sample of 119 bankrupt companies was matchedwith an equal sample of healthy companies for the period 2003-2014, based on year, sector, and subsector, which was formed by random selection. Using the method of factor analysis, seven financial ratios were selected, which are the independent variables of the model. Applying the Logit model, the results showed a significant explanatory capability of the model in the trade sector as a whole as well as in the wholesale trade sub-sectors, which increases as the homogeneity of samples of bankrupt and healthy companies increases.In particular, the predictive capability of the model that we used improved by 14.3% regarding the classification of bankrupt firms when the same methodology was applied from the broader sector to the sub-sector. Moreover, the independent variable of capital structure has the highest stability and contributes substantially to the discriminant validity of the Logit model.

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“…Embora diversos estudos já tenham analisado a sobrevivência de MPEs (por exemplo, Djankov, Qian, Roland, & Zhuravskaya, 2007;Misunaga, Miyatake, & Filippin, 2012;Mizumoto, Artes, Lazzarini, Hashimoto, & Bedê, 2010;O'Neill, Saunders, & Hoffman, 1987;Perin & Sampaio, 2004;Pinkwart, Proksch, Schefczyk, Fiegler, & Ernst, 2015;Yano, Mateo, & Machado, 2016), não se esgotou, ainda, na literatura, a discussão sobre quais são os fatores mais relevantes e de que forma estes fatores poderiam reduzir ou acentuar a desvantagem de ser jovem. No contexto brasileiro, utilizando dados do SEBRAE-SP, Mizumoto, Artes, Lazzarini, Hashimoto e Bedê (2010) encontram três fatores que influenciam a taxa de sobrevivência de empresas: práticas gerenciais, que se referem à utilização de ferramentas no processo de gestão que auxiliam na tomada de decisão; capital humano, definido como a formação intelectual e a experiência do empreendedor; e capital social, envolvendo conexões existentes com familiares e outras organizações.…”

Section: Introductionunclassified

Sobrevivência de Empresas Nascentes: Influência do Capital Humano, Social, Práticas Gerenciais e Gênero

et al. 2018

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Resumo Analisa-se a influência do capital humano do empreendedor, o seu capital social e a adoção de práticas gerenciais na sobrevivência de empresas em seus primeiros anos de atividade. De forma inédita, verifica-se como o efeito desses fatores varia de acordo com o gênero, masculino ou feminino, do empreendedor. Usando uma base de 2.000 empresas cadastradas na Junta Comercial do Estado de São Paulo (Jucesp), entre 2003 e 2007, foram ajustados dois modelos econométricos para mensurar o efeito dessas variáveis na sobrevivência de empresas nascentes. Os resultados sugerem que a adoção de práticas gerenciais e alguns aspectos ligados ao capital humano do empreendedor podem favorecer a sobrevivência da empresa. O efeito de competências superiores e capital social sobre a sobrevivência foram maiores para mulheres do que para homens. Os resultados sugerem que empreendedoras enfrentam mais barreiras à constituição de novos negócios, exigindo, portanto, configurações distintas de recursos para atenuar essas barreiras e aumentar a probabilidade de sobrevivência das empresas nascentes.

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Reasons for the Failure of New Technology-Based Firms: A Longitudinal Empirical Study for Germany

Cited by 8 publications

References 23 publications

Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment

Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment

Bankruptcy prediction and homogeneity of firm samples: The case of Greece

Sobrevivência de Empresas Nascentes: Influência do Capital Humano, Social, Práticas Gerenciais e Gênero

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