Does innovation facilitate firm survival? Evidence from Chinese high-tech firms

The impact of innovation mechanisms on firm survival remains inconclusive in the existing literature, especially when we consider the case of a rapidly growing emerging economy. Using a unique firm-level dataset of 14,065 Chinese high-tech start-ups from 2007 to 2013, we employ a discrete time hazard model to study the impact of differences in internal and external innovation mechanisms, specifically, innovation efficiency and spillover effect...