期刊
JOURNAL OF BUSINESS VENTURING
卷 23, 期 3, 页码 280-306出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jbusvent.2007.02.002
关键词
exit; entry; agglomeration; local renewal
类别
This study posits that a local process of creative destruction provides an impetus to regional industrial renewal. We argue that exits of older firms release resources that stimulate local entry. New entrants add value to these resources by redeploying them in more productive uses. We test our hypotheses with a unique longitudinal database encompassing the entry and exit of Canadian manufacturing enterprises. We find that exits of old firms increase entry and that on average new entrants are more productive. Persistent high local rates of exit, however, deter entry. (c) 2007 Published by Elsevier Inc.
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