企业失败与探索/开发困境:企业生命周期的作用

IF 7.4 2区 管理学 Q1 BUSINESS
Mehrsa Ehsani, Oleksiy Osiyevskyy
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引用次数: 0

摘要

企业的生存和繁荣取决于它们通过迅速采用通用勘探和开发战略的正确组合来不断适应环境状态和动态的能力。我们提出了一个新的理论模型,将探索和开发方法的追求与中期的企业失败联系起来,强调了企业生命周期在实质上塑造潜在关系的作用。该模型使用1988年至2019年多个行业的大型面板数据集中的企业级数据进行了实证检验,揭示了企业生命周期的五个阶段(以及它们之间的过渡期)对勘探/开发战略与企业失败可能性之间关系的调节影响。研究结果表明,在成长、成熟和转型阶段,勘探对企业倒闭的可能性有显著的负面影响;然而,它显著增加了企业在引入、退出和衰落阶段失败的可能性。另一方面,开发对企业在引入和成熟阶段失败的可能性有显著的负面影响,但却放大了转型阶段失败的概率。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Firm failure and the exploration/exploitation dilemma: The role of firm life cycle

The survival and prosperity of firms are contingent on their ability to constantly adjust to the state and dynamics of their environments by swiftly embracing the right combination of generic exploration and exploitation strategies. We propose a novel theoretical model linking the pursuit of exploration and exploitation approaches with firm failure in the medium term, stressing the role of the firm life cycle that substantively shapes the underlying relationships. The model is empirically tested using the firm-level data from a large panel dataset from 1988 to 2019 across multiple industries, revealing the moderating impact of the five stages of the firm life cycle (and the transition period between them) on the relation between exploration/exploitation strategies and the likelihood of firm failure. The findings indicate that exploration has a significant negative impact on the likelihood of firm failure during the growth, maturity, and transition stages; however, it significantly increases the likelihood of firm failure in the introduction, shakeout, and decline stages. Exploitation, on the other hand, has a significant negative impact on the likelihood of firm failure in the introduction and maturity stages yet amplifies the probability of failure in the transition phase.

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来源期刊
CiteScore
13.00
自引率
7.10%
发文量
75
期刊介绍: Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.
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