This paper investigates the relationship between the level of experience of managers and founders, and the likelihood of survival of their new firms. We take advantage of a comprehensive dataset covering the entire Danish labor market from 1980-2000. This is used to trace the activities of top...

Recently empirical studies have focused on how capabilities of new entering firms are important for the evolution of industries over time. The performance of new entrants appears to be significantly influenced by their pre-entry background. The general impression of the literature is that firms...

Many theories either implicitly or explicitly assume that individuals readily move to locations that improve their financial well being. Other forces, however, counteract these tendencies; for example, people often wish to remain close to family and friends. We introduce a methodology for...

This paper explores the firm growth rate distribution in a Gibrat’s Law context. The aim is to provide an empirical exploration of the determinants of firm growth. The work is novel in two respects. First, rather than limiting the analysis to focus on the conditional mean growth level, we...

The role of informal networks in the development of regional clusters has received a lot of attention in the literature recently. Informal contact between employees in different firms is argued to be one of the main carriers of knowledge between firms in a cluster. This paper empirically...

How can the growth of regional clusters be explained? This paper studies in great detail the growth of the wireless communication cluster in Northern Denmark. Unlike the dominant theories, we argue that initial success of the first firms are the main driving force behind the generation of new...