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Glazer, Amihai; Kanniainen, Vesa; Poutvaara, Panu (2004): Initial Luck, Status-Seeking and Snowballs Lead to Corporate Success and Failure. IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn, 1426
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Corporate success often resembles a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and status-seeking by workers can make small initial differences generate large differences over time.