The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms

P u r p o s e: The purpose of this paper is to identify the impacts and predictability of financial, accounting-based, and industrial factors (as well as corporate venturing) on survival-based success of newly incorporated firms in Spain. Design/methodology: Logistic regression is used for comparing...

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Detalles Bibliográficos
Autores: Tong, Yehui, Saladrigues, Ramon
Tipo de recurso: artículo
Fecha de publicación:2018
País:España
Institución:Universitat Politècnica de Catalunya (UPC)
Repositorio:UPCommons. Portal del coneixement obert de la UPC
Idioma:inglés
OAI Identifier:oai:upcommons.upc.edu:2117/116401
Acceso en línea:https://hdl.handle.net/2117/116401
https://dx.doi.org/10.3926/ic.1106
Access Level:acceso abierto
Palabra clave:New business enterprises--Spain
New business enterprises--Economic aspects
Survival-basedsuccess
Financial
Accounting-based and industrial factors
Empreses -- Creació -- Espanya
Empreses -- Creació -- Aspectes econòmics
Àrees temàtiques de la UPC::Economia i organització d'empreses
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oai_identifier_str oai:upcommons.upc.edu:2117/116401
network_acronym_str ES
network_name_str España
repository_id_str
spelling The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firmsTong, YehuiSaladrigues, RamonNew business enterprises--SpainNew business enterprises--Economic aspectsSurvival-basedsuccessFinancialAccounting-based and industrial factorsEmpreses -- Creació -- EspanyaEmpreses -- Creació -- Aspectes econòmicsÀrees temàtiques de la UPC::Economia i organització d'empresesP u r p o s e: The purpose of this paper is to identify the impacts and predictability of financial, accounting-based, and industrial factors (as well as corporate venturing) on survival-based success of newly incorporated firms in Spain. Design/methodology: Logistic regression is used for comparing the differences of factors in the prediction of future success after different time periods since the studying years (age 1, age 2, and age 3 respectively) in manufacturing and distributive sectors. Findings: Differences in predictability are observed between manufacturing and distributive sectors: it is obvious in distributive sector (rather than manufacturing sector) that liquidity, bank credit, trade credit, and concentration are positively related to success while entry rate is negatively related to success. In spite of that, some factors still show strong predictability in both two sectors. Firm size and profitability are the strongest positive factors, which are followed by corporate venturing and the growth of industrial operating revenues with positive and generally negative relationships to success separately. Besides, for some factors and variables frequently showing statistical significance, their impacts in the same age tend to be relatively stable. Practical implications: The findings of this paper can help to identify the predictability of different factors on the success of newly incorporated firms and catch the differences between manufacturing and distributive sectors. Originality/value: This paper enriches the empirical study of new firm success in Spain in depression and stagnant environment (because the observed years here are from 2009 to 2014); besides, the findings also contribute to the specific prediction study of manufacturing and distributive sectors.Peer ReviewedOmniaScience20182018-02-0120182018-04-17journal articlehttp://purl.org/coar/resource_type/c_6501NAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/2117/116401https://dx.doi.org/10.3926/ic.1106reponame:UPCommons. Portal del coneixement obert de la UPCinstname:Universitat Politècnica de Catalunya (UPC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial 3.0 Spainhttp://creativecommons.org/licenses/by-nc/3.0/es/info:eu-repo/semantics/openAccessoai:upcommons.upc.edu:2117/1164012026-05-27T15:37:01Z
dc.title.none.fl_str_mv The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
title The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
spellingShingle The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
Tong, Yehui
New business enterprises--Spain
New business enterprises--Economic aspects
Survival-basedsuccess
Financial
Accounting-based and industrial factors
Empreses -- Creació -- Espanya
Empreses -- Creació -- Aspectes econòmics
Àrees temàtiques de la UPC::Economia i organització d'empreses
title_short The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
title_full The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
title_fullStr The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
title_full_unstemmed The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
title_sort The predictability of financial, accounting-based, and industrial factors on the success of newly incorporated Spanish firms
dc.creator.none.fl_str_mv Tong, Yehui
Saladrigues, Ramon
author Tong, Yehui
author_facet Tong, Yehui
Saladrigues, Ramon
author_role author
author2 Saladrigues, Ramon
author2_role author
dc.subject.none.fl_str_mv New business enterprises--Spain
New business enterprises--Economic aspects
Survival-basedsuccess
Financial
Accounting-based and industrial factors
Empreses -- Creació -- Espanya
Empreses -- Creació -- Aspectes econòmics
Àrees temàtiques de la UPC::Economia i organització d'empreses
topic New business enterprises--Spain
New business enterprises--Economic aspects
Survival-basedsuccess
Financial
Accounting-based and industrial factors
Empreses -- Creació -- Espanya
Empreses -- Creació -- Aspectes econòmics
Àrees temàtiques de la UPC::Economia i organització d'empreses
description P u r p o s e: The purpose of this paper is to identify the impacts and predictability of financial, accounting-based, and industrial factors (as well as corporate venturing) on survival-based success of newly incorporated firms in Spain. Design/methodology: Logistic regression is used for comparing the differences of factors in the prediction of future success after different time periods since the studying years (age 1, age 2, and age 3 respectively) in manufacturing and distributive sectors. Findings: Differences in predictability are observed between manufacturing and distributive sectors: it is obvious in distributive sector (rather than manufacturing sector) that liquidity, bank credit, trade credit, and concentration are positively related to success while entry rate is negatively related to success. In spite of that, some factors still show strong predictability in both two sectors. Firm size and profitability are the strongest positive factors, which are followed by corporate venturing and the growth of industrial operating revenues with positive and generally negative relationships to success separately. Besides, for some factors and variables frequently showing statistical significance, their impacts in the same age tend to be relatively stable. Practical implications: The findings of this paper can help to identify the predictability of different factors on the success of newly incorporated firms and catch the differences between manufacturing and distributive sectors. Originality/value: This paper enriches the empirical study of new firm success in Spain in depression and stagnant environment (because the observed years here are from 2009 to 2014); besides, the findings also contribute to the specific prediction study of manufacturing and distributive sectors.
publishDate 2018
dc.date.none.fl_str_mv 2018
2018-02-01
2018
2018-04-17
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/2117/116401
https://dx.doi.org/10.3926/ic.1106
url https://hdl.handle.net/2117/116401
https://dx.doi.org/10.3926/ic.1106
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial 3.0 Spain
http://creativecommons.org/licenses/by-nc/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial 3.0 Spain
http://creativecommons.org/licenses/by-nc/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv OmniaScience
publisher.none.fl_str_mv OmniaScience
dc.source.none.fl_str_mv reponame:UPCommons. Portal del coneixement obert de la UPC
instname:Universitat Politècnica de Catalunya (UPC)
instname_str Universitat Politècnica de Catalunya (UPC)
reponame_str UPCommons. Portal del coneixement obert de la UPC
collection UPCommons. Portal del coneixement obert de la UPC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300724

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