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The role of organisational factors and environmental conditions on the success of newly founded firms

Published online by Cambridge University Press:  30 March 2023

Yolanda Fuertes-Callén Open the ORCID record for Yolanda Fuertes-Callén [Opens in a new window] ,
Beatriz Cuellar-Fernández Open the ORCID record for Beatriz Cuellar-Fernández [Opens in a new window]  and
Carlos Serrano-Cinca Open the ORCID record for Carlos Serrano-Cinca [Opens in a new window]
Yolanda Fuertes-Callén
Affiliation:
Department of Accounting and Finance, University of Zaragoza, Spain
Beatriz Cuellar-Fernández*
Affiliation:
Department of Accounting and Finance, University of Zaragoza, Spain
Carlos Serrano-Cinca
Affiliation:
Department of Accounting and Finance, University of Zaragoza, Spain
*
*Corresponding author. Email: bcuellar@unizar.es
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Abstract

This study examines the influence of founding conditions and decisions on new companies' performance, analysing how both environmental context and organisational dynamics interact to determine their success. It distinguishes between two different success indicators: survival and profitable growth. An empirical study conducted using a sample of 3,722 new agri-food companies in two different periods, one of economic stability and the other of recession, showed that founding conditions had long-lasting effects on post-entry performance. The economic context acted as a moderator of the relationship between individual factors and success. Adverse environmental conditions were also a determinant of success, making surviving firms more competitive and resilient. The results reflect the survival of the fitter principle by showing that early profitability reduced the risk of failure and made firms more likely to become profitable in the medium term. Internationalisation strategies developed organisational capabilities that created an imprint for adaptability and growth.

Keywords

Agrifood industrybankruptcyenvironmental factorsfinancial ratiosperformanceprofitable growthsurvival analysis

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Type
Research Article
Information
Journal of Management & Organization , Volume 31 , Issue 4 , July 2025 , pp. 2214 - 2247
Copyright
© The Author(s), 2023. Published by Cambridge University Press in association with the Australian and New Zealand Academy of Management

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