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A growing body of literature suggests that populations of organizations are not homogeneous, but instead comprise distinct subentities. Firms are highly dependent on their immediate institutional and competitive environments. The present paper further explores this issue by focusing on the spatial and temporal sources of industry heterogeneity. Our goal is threefold. First, we explore founding rates as a function of spatial density, arguing that density-dependent processes occur along adoi:10.1287/orsc.14.6.640.24874 fatcat:mmnpsxaicbdvxa2zadjk5dgtpa