The DOI matches its Crossref record; 89 of the 89 references it cites were found in a registry or an index.
Liquidity Events and the Geographic Distribution of Entrepreneurial Activity
Abstract
In this paper, we examine the ecological consequences of initial public offerings (IPOs) and acquisitions, specifically how the spatial distribution of these events influences the location-specific founding rates of new companies. We explore whether relatively small spatial units (metropolitan statistical areas) in close geographic proximity to firms that recently have been acquired or experienced an IPO exhibit high new venture creation rates and whether the magnitudes of these effects depend on regional differences in statutes governing the freedom of employees to move between employers. Count models of biotechnology firm foundings establish three findings: (1) IPOs of organizations located contiguous to or within an MSA accelerate the founding rate within that MSA, (2) acquisitions of biotech firms situated near to or within an MSA accelerate the founding rate within the MSA, but only when the acquirer enters from outside of the biotech industry, and (3) the enforceability of post-employment non-compete covenants, which is determined at the state level, strongly moderates these effects.
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Cites
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Fifty Years of Empirical Studies of Innovative Activity and Performance
Cohen, W. M. (2010) · Handbook of the Economics of Innovation · doi:10.1016/s0169-7218(10)01004-x · Cited by 962
Community isomorphism and corporate social action
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Mobility, Skills, and the Michigan Non-Compete Experiment
Marx, M., Strumsky, D., & Fleming, L. (2009) · Management Science · doi:10.1287/mnsc.1080.0985 · Cited by 698
Home Bias in Online Investments: An Empirical Study of an Online Crowdfunding Market
Lin, M., & Viswanathan, S. (2016) · Management Science · doi:10.1287/mnsc.2015.2206 · Cited by 678
Vive La Résistance: Competing Logics and the Consolidation of U.S. Community Banking
Marquis, C., & Lounsbury, M. (2007) · Academy of Management Journal · doi:10.5465/amj.2007.26279172 · Cited by 677
Metadata
- Authors
- Stuart, T. E., & Sorenson, O.
- Venue
- Administrative Science Quarterly
- Publisher
- JSTOR
- Published
- 2003-06
- Volume
- 48
- Issue
- 2
- Pages
- 175-201
- ISSN
- 0001-8392 (ISSN-L)
- 1930-3815
- OpenAlex
- W2138269415
- Cited by
- 465
- References
- 89
- FWCI
- 32.90
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
