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Firms' growth: Does the innovation system matter?

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Author Info

  • Cassia, Lucio
  • Colombelli, Alessandra
  • Paleari, Stefano

Abstract

The paper investigates the effects of external sources of knowledge on firm growth. In line with the knowledge spillovers literature, we focus on the relationship between firms and universities, considered as a crucial source of knowledge. To this purpose, we analyse a sample of UK public companies in the period 1995 to 2006. Our findings confirm that both universities' knowledge input and output are important determinants of the growth of entrepreneurial firms.

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File URL: http://www.sciencedirect.com/science/article/B6VFN-4VGWW0G-1/2/69c8eb2222b683a297cb850b5e794873
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Bibliographic Info

Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 20 (2009)
Issue (Month): 3 (September)
Pages: 211-220

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Handle: RePEc:eee:streco:v:20:y:2009:i:3:p:211-220

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Web page: http://www.elsevier.com/locate/inca/525148

Related research

Keywords: Firm growth Knowledge spillovers Initial public offering;

References

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  1. Almus, Matthias & Nerlinger, Eric A, 1999. " Growth of New Technology-Based Firms: Which Factors Matter?," Small Business Economics, Springer, vol. 13(2), pages 141-54, September.
  2. Vernon Henderson, J., 2007. "Understanding knowledge spillovers," Regional Science and Urban Economics, Elsevier, vol. 37(4), pages 497-508, July.
  3. Richard E. Caves, 1998. "Industrial Organization and New Findings on the Turnover and Mobility of Firms," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 1947-1982, December.
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  5. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
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  9. Vernon Henderson, 2001. "Marshall's Scale Economies," Working Papers 01-17, Center for Economic Studies, U.S. Census Bureau.
  10. Marshall, Alfred, 1890. "The Principles of Economics," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number marshall1890.
  11. David B. audretsch & Erik E. Lehmann, 2005. "Mansfield's Missing Link: The Impact of Knowledge Spillovers on Firm Growth," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 207-210, 01.
  12. David Audretsch & Erik Lehmann, 2006. "Do locational spillovers pay? empirical evidence from German IPO data," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(1), pages 71-81.
  13. Gilbert, Brett Anitra & McDougall, Patricia P. & Audretsch, David B., 2008. "Clusters, knowledge spillovers and new venture performance: An empirical examination," Journal of Business Venturing, Elsevier, vol. 23(4), pages 405-422, July.
  14. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, January.
  15. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  16. Paula E. Stephan, 1996. "The Economics of Science," Journal of Economic Literature, American Economic Association, vol. 34(3), pages 1199-1235, September.
  17. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
  18. Jong-Rong Chen & Chih-Hai Yang, 2005. "Technological knowledge, spillover and productivity: evidence from Taiwanese firm level panel data," Applied Economics, Taylor & Francis Journals, vol. 37(20), pages 2361-2371.
  19. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297.
  20. John Sutton, 1997. "Gibrat's Legacy," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 40-59, March.
  21. Attila Varga, 2000. "Local Academic Knowledge Transfers and the Concentration of Economic Activity," Journal of Regional Science, Wiley Blackwell, vol. 40(2), pages 289-309.
  22. Audretsch, David B. & Lehmann, Erik E., 2005. "Does the Knowledge Spillover Theory of Entrepreneurship hold for regions?," Research Policy, Elsevier, vol. 34(8), pages 1191-1202, October.
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Citations

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Cited by:
  1. Tina Wolf & Uwe Cantner, 2011. "Innovative Companies' Survival and The Region - Isn't it just being there?," ERSA conference papers ersa10p606, European Regional Science Association.
  2. Carlos Carreira & Luís Peres Lopes, 2012. "Are Small Firms More Dependent on the Local Environment than Larger Firms? Evidence from Portuguese Manufacturing Firms," GEMF Working Papers 2012-21, GEMF - Faculdade de Economia, Universidade de Coimbra.
  3. Koski, Heli, 2011. "Does Marginal Cost Pricing of Public Sector Information Spur Firm Growth?," Discussion Papers 1260, The Research Institute of the Finnish Economy.
  4. Alessandra Colombelli & Francesco Quatraro, 2013. "New Firm Formation and the properties of local knowledge bases: Evidence from Italian NUTS 3 regions," Working Papers hal-00858989, HAL.
  5. Duschl, Matthias & Schimke, Antje & Brenner, Thomas & Luxen, Dennis, 2011. "Firm growth and the spatial impact of geolocated external factors: Empirical evidence for German manufacturing firms," Working Paper Series in Economics 36, Karlsruhe Institute of Technology (KIT), Department of Economics and Business Engineering.
  6. Antonelli, Cristiano & Colombelli, Alessandra, 2009. "The Generation and Exploitation of Technological Change: Market Value and Total Factor Productivity," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200912, University of Turin.
  7. Colombelli, Alessandra & Haned, Naciba & Le Bas, Christian, 2013. "On firm growth and innovation: Some new empirical perspectives using French CIS (1992–2004)," Structural Change and Economic Dynamics, Elsevier, vol. 26(C), pages 14-26.
  8. Matthias Duschl & Tobias Scholl & Thomas Brenner & Dennis Luxen & Falk Raschke, 2012. "Industry-specific firm growth and aggolmeration," Working Papers on Innovation and Space 2012-06, Philipps University Marburg, Department of Geography.
  9. Alessandra Colombelli, 2010. "Alternative Investment Market: A Way to Promote Entrepreneurship," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 253-274, September.
  10. Matthias Duschl & Antje Schimke & Thomas Brenner & Dennis Luxen, 2011. "Firm Growth and the Spatial Impact of Geolocated External Factors – Empirical Evidence for German Manufacturing Firms," Working Papers on Innovation and Space 2011-03, Philipps University Marburg, Department of Geography.

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