The success of spanish new firmsa study on the impacts of firm-specific and industry-specific factors

Resumen

This thesis studies the impacting factors on the success of new firms in Spain mainly from the perspectives of accounting, financing, and industry. In particular, two important facets of success are focused on: survival (or survival-based success) and profitability. Survival-based success is studied in both manufacturing and distributive industries. With using logistic regression, separately studied are the impacts of firm-specific factors before and during the recent crisis as well as the influence of both firm-specific and industrial factors during the recent crisis. After that, decision tree model is employed for exploring firm-specific factors and industry-specific factors in more detailed forms. Finally, using linear regression, the influence of some financial and accounting-based factors on new firm profitability is researched, with the focus on two manufacturing sectors (food products sector and computer, electronic and optical products sector) separately for adding new evidence to low-technology and high-technology sectors.