The Liability of Volatility and How it Changes Over Time Among New Ventures

Erik Lundmark*, Alex Coad, Julian S. Frankish, David J. Storey

*この研究の対応する著者

研究成果: Article査読

3 被引用数 (Scopus)

抄録

This article theorizes how short-term revenue volatility affects new venture viability and how such volatility develops over time. Tracking the bank accounts of 6,578 new ventures over a 10-year period, we find that, even after controlling for a range of other factors, short-term revenue volatility is a strong predictor of venture exit. Although short-term revenue volatility is associated with the depletion of buffer resources and financial default, surviving ventures do not, on average, decrease their short-term revenue volatility over time. However, short-term revenue volatility decreases at the cohort level due to higher exit rates of volatile ventures.

本文言語English
ページ(範囲)933-963
ページ数31
ジャーナルEntrepreneurship: Theory and Practice
44
5
DOI
出版ステータスPublished - 2020 9 1
外部発表はい

ASJC Scopus subject areas

  • ビジネスおよび国際経営
  • 経済学、計量経済学

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