haku: @indexterm business failures / yhteensä: 193
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| Tekijä: | Knott, A.M. Posen, H.E. |
| Otsikko: | Is failure good? |
| Lehti: | Strategic Management Journal
2005 : JUL, VOL. 26:7, p. 617-641 |
| Asiasana: | banking business failures efficiency market structure |
| Kieli: | eng |
| Tiivistelmä: | It is commonly thought that failure is wasteful. This purpose of this article is to examine whether there are any economic benefits to offset the waste. Three potential mechanisms throug which excess entry affects market structure, company behaviour and efficiency are characterized, and they are tested in the banking industry. Findings show that failed companies generate externalities that significantly and substantially reduce industry cost. |
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