Many newly emerging industries show similar patterns of development regarding entry and exit dynamics. This paper argues that several features of exit and new entry into industries through diversification and spinoff formation can be related to problems arising within firms when their...

We review the evolution of the market and geographic structure of the automobile, television receiver, and tyre industries in order to gain insights into the primary forces governing the agglomeration of industries. Spinoffs, which are firms founded by employees of incumbent producers, played a...