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  • Thumbnail for Why Do New Ventures Succeed? An Analysis of New-Firm Survival and Success
    Why Do New Ventures Succeed? An Analysis of New-Firm Survival and Success by Keogh, Daniel

    The purpose of this study is to evaluate how different founder and firm characteristics affect new venture performance. This research uses survival proportional hazard functions, and limited-information maximum likelihood instrumental regressions to measure the marginal effects on revenues and employment. A particular emphasis of this study is to look at the connectivity of different types of capital to measure how networks influence firm-success. For instance, the existence of a particular type of advantage and a background characteristic should represent the use of one’s network in securing success. The data used for this study come from the Kauffman Firm Survey (KFS), which surveys various firms’ founders on their background and the state of the firm from 2004-2011. The expected result of this study is that the interaction terms that capture whether a founder is leveraging his or her network will be a much stronger predictor of the different measurements of success than any measure of a founder’s background or the firm’s connections and capital structures.