Coad, Alex; Frankish, Julian; Roberts, Richard G.; … - In: Journal of Business Venturing 28 (2013) 5, pp. 615-632
This paper links new firm survival with growth, with a focus on the patterns in firms' growth paths. We theorise a Gambler's Ruin framework by arguing that new firm performance is best modelled as a random walk process, but that survival is nonrandom and depends primarily on the stock of...