firm survival during shakeout in the US brewing industry between 1938 and 1980. Design/methodology/approach – Hazard … the firms who continually developed capabilities across the decades. Research limitations/implications – This study … contributes to our understanding of shakeout in traditional, non-high-technology businesses. However, because it is a single …

brewery entry and growth, leading to lower levels of breweries and craft beer production. The effects are largest in states … that place restrictions on brewery/wholesaler integration. The findings in this paper indicate that contract termination …

an acquisition of multiple craft breweries by a large brewery and find that the acquisition would induce firm entry and …

a counterfactual merger where a large brewery acquires multiple craft breweries. In most markets, we find that new firms …