Does our ability to predict the performance of new ventures improve in the years after start-up? We investigate the growth and survival of 6247 new ventures that are tracked using the customer records at Barclays Bank. We put forward Gambler’s Ruin as a simple theory for understanding new...

The emergence of firms from the Asian Newly Industrialized Economies (NIEs) in the global economy during the past two decades has been phenomenal. Many pundits have attributed the competitive success of these Asian NIE firms and their home economies to the relentless efforts of the so-called...