Some research suggests new venture activity maintains an even pace of creation and failure (Birley 1985; Shane, 1996), despite cycles in the economy. However, I theorize that a disruptive phenomenon, which I label catastrophic environmental disequilibrium (CED), impacts normal cycles of new venture creation (NVC) at an organizational task environment level of analysis.
"ENVIRONMENTAL DISEQUILIBRIUM AND NEW VENTURE CREATION: AN EXAMINATION IN THE CONTEXT OF A LOCAL BUST ECONOMY (INTERACTIVE PAPER),"
Frontiers of Entrepreneurship Research: Vol. 26
, Article 7.
Available at: http://digitalknowledge.babson.edu/fer/vol26/iss19/7