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Regional innovation networks & high-growth entrepreneurship

Author

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  • Araki, Michael E.
  • Bennett, Daniel L.
  • Wagner, Gary A.

Abstract

We investigate the influence of regional innovation networks (RINs) on high-growth entrepreneurship within the framework of the knowledge spillover theory of entrepreneurship (KSTE). While previous studies have separately examined RINs' role in knowledge diffusion and the geographical characteristics of high-growth firms, the connection between these two areas remains unexplored. To address this gap, we develop a conceptual model that highlights the positive impact of RINs on high-growth entrepreneurship, moderated by regional entrepreneurial capital. Using a unique longitudinal dataset at the metropolitan statistical area (MSA) level, we employ two-way fixed effects and instrumental variables regressions to analyze the data. Our findings support the conceptual model, revealing that robust RINs facilitate high-growth entrepreneurship. Additionally, we conduct post-hoc exploratory analyses to investigate potential moderating factors, including the influence of the public policy environment.

Suggested Citation

  • Araki, Michael E. & Bennett, Daniel L. & Wagner, Gary A., 2024. "Regional innovation networks & high-growth entrepreneurship," Research Policy, Elsevier, vol. 53(1).
    • Handle: RePEc:eee:respol:v:53:y:2024:i:1:s0048733323001841
    DOI: 10.1016/j.respol.2023.104900
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    More about this item

    Keywords

    Gazelles; Geography of innovation; Innovation networks; Geography of high-growth entrepreneurship; Knowledge spillover theory of entrepreneurship;
    All these keywords.

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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