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From barriers to entry to barriers to survival

Author: Verdin, Paul ; Williamson, Peter J.INSEAD Area: Strategy Series: Working Paper ; 92/21/SM Publisher: Fontainebleau : INSEAD, 1992.Language: EnglishDescription: 26 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: The paper takes as its starting-point the mounting evidence of a weak relationship between traditional measures of entry barriers and inter-industries variation in the actual rate of entry. Distinguishing new, independent firms from plant addition by existing multiplant operators or diversifiers only partially addresses this inadequacy. The concept of barriers to survivals (BTS) as a structural phenomenon operating alongside, but substantially independent of traditional entry barriers is therefore developed. It is postulated that BTS depend on the importance of industry-specific, experience-based assets. Empirical testing on a sample of 160,000 entrants across 120 US industries supports the relevance of the BTS concept
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The paper takes as its starting-point the mounting evidence of a weak relationship between traditional measures of entry barriers and inter-industries variation in the actual rate of entry. Distinguishing new, independent firms from plant addition by existing multiplant operators or diversifiers only partially addresses this inadequacy. The concept of barriers to survivals (BTS) as a structural phenomenon operating alongside, but substantially independent of traditional entry barriers is therefore developed. It is postulated that BTS depend on the importance of industry-specific, experience-based assets. Empirical testing on a sample of 160,000 entrants across 120 US industries supports the relevance of the BTS concept

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