Location considerations play a key role in shaping venture performance. Using data from the largest accelerator in the world, we examine the effects of institutional distance and location capabilities on international start-ups' survival rates. We find that international start-ups' survival is shaped by whether it internationalizes to a country with stronger or weaker institutions than those in its home country. Further, the interaction between the directionality of institutional distance and location capabilities is important such that ventures that develop location capabilities in contexts of positive institutional distance experience greater survival rates. Through this study, we make an important theoretical contribution at the intersection of institutional and resource based theory by developing more granular knowledge about institutional dynamics across home and host countries.

中文翻译：

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定位能力、机构距离和初创企业生存

位置考虑在塑造企业绩效方面发挥着关键作用。我们使用来自世界上最大的加速器的数据，研究机构距离和定位能力对国际初创企业生存率的影响。我们发现，国际初创企业的生存取决于它是否国际化到一个机构比其本国机构更强大或更弱的国家。此外，机构距离的方向性和定位能力之间的相互作用很重要，因此在正机构距离的背景下发展定位能力的企业会体验到更高的生存率。通过这项研究，