Abstract
We examine the survival of 404 new ventures founded during the 2008 recession. We find that industry explains a significant but small percentage of variance in survival (2.81 percent), and therefore focus on which operations-related actions could enhance ventures’ odds of survival. We find marginally significant support for our hypotheses that a venture founded during a recession is more likely to survive if it increases its production efficiency, increases both its production efficiency and variable costs, or increases both its production efficiency and fixed costs in property, plant and equipment. Our findings demonstrate that operational decisions are key determinants of survival for ventures founded during a recession.
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