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Science Parks and the Performance of New Technology-Based Firms: A Review of Recent U.K. Evidence and an Agenda for Future Research

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  • Siegel, Donald S
  • Westhead, Paul
  • Wright, Mike

Abstract

Science parks were established to stimulate the formation and development of new technology-based firms (NTBFs). Despite the potential importance of these institutions as a mechanism for generating technological spillovers and employment growth, there has been little systematic analysis of their impact on NTBFs. In this paper, we review some recent evidence comparing the performance of firms located on and off U.K. science parks. This preliminary evidence suggests that the "returns" to being located on a science park are negligible. We conjecture that these results may be due to imprecise estimates of these returns and may also be masking important differences in the returns to different types of science parks. In addition, we outline an agenda for additional research on the effects of these institutions on NTBF performance. Copyright 2003 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 20 (2003)
Issue (Month): 2 (March)
Pages: 177-84

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Handle: RePEc:kap:sbusec:v:20:y:2003:i:2:p:177-84

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Web page: http://www.springerlink.com/link.asp?id=100338

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Cited by:
  1. Lockett, Andy & Siegel, Donald & Wright, Mike & Ensley, Michael D., 2005. "The creation of spin-off firms at public research institutions: Managerial and policy implications," Research Policy, Elsevier, vol. 34(7), pages 981-993, September.
  2. Joanna Poyago-Theotoky & John Beath & Donald S. Siegel, 2002. "Universities and Fundamental Research: Reflections on the Growth of University--Industry Partnerships," Oxford Review of Economic Policy, Oxford University Press, vol. 18(1), pages 10-21, Spring.
  3. Michael Schwartz, 2008. "Incubator Age and Incubation Time: Determinants of Firm Survival after Graduation?," IWH Discussion Papers 14, Halle Institute for Economic Research.
  4. Achilleas Tsamis, 2006. "Science and Technology Parks in Two Lagging Regions of Spain: A Comparative Evaluation Using an Innovation Network Approach," ERSA conference papers ersa06p443, European Regional Science Association.
  5. Soekijad, M. & Walschots, J. & Huysman, M., 2008. "Congestion at the floating road? Negotiation in networked innovation," Serie Research Memoranda 0002, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  6. Link, Albert N. & Scott, John T., 2003. "U.S. science parks: the diffusion of an innovation and its effects on the academic missions of universities," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1323-1356, November.
  7. Ernesto Tavoletti & Corrado Cerruti, 2012. "Business Incubation: The Case of the European Space Agency," DSI Essays Series, DSI - Dipartimento di Studi sull'Impresa, vol. 29.
  8. Johnson, William H.A., 2011. "Managing university technology development using organizational control theory," Research Policy, Elsevier, vol. 40(6), pages 842-852, July.
  9. Michael Schwartz & Maximilian Göthner, 2009. "A Novel Approach to Incubator Evaluations: The PROMETHEE Outranking Procedures," IWH Discussion Papers 1, Halle Institute for Economic Research.
  10. Vásquez Urriago, Ángela Rocio & Barge-Gil, Andrés & Modrego Rico, Aurelia & Paraskevopoulou, Evita, 2011. "The impact of science and technology parks on firms´ product innovation: empirical evidence from Spain," MPRA Paper 30555, University Library of Munich, Germany.
  11. Fukugawa, Nobuya, 2006. "Science parks in Japan and their value-added contributions to new technology-based firms," International Journal of Industrial Organization, Elsevier, vol. 24(2), pages 381-400, March.
  12. Link, Albert N. & Scott, John T. & Siegel, Donald S., 2003. "The economics of intellectual property at universities: an overview of the special issue," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1217-1225, November.
  13. Albahari, Alberto & Pérez-Canto, Salvador & Barge-Gil, Andrés & Modrego, Aurelia, 2013. "Technology Parks versus Science Parks: does the university make the difference?," MPRA Paper 49227, University Library of Munich, Germany.
  14. Marina Geenhuizen van, 2003. "Fostering Academic Entrepreneurship: New Insights into Incubation from an Evolutionary Perspective," ERSA conference papers ersa03p362, European Regional Science Association.
  15. World Bank, 2008. "Bulgaria - Investment Climate Assessment : Volume 2. Detailed Report," World Bank Other Operational Studies 7868, The World Bank.
  16. Yang, Chih-Hai & Motohashi, Kazuyuki & Chen, Jong-Rong, 2009. "Are new technology-based firms located on science parks really more innovative?: Evidence from Taiwan," Research Policy, Elsevier, vol. 38(1), pages 77-85, February.
  17. Albahari, Alberto & Barge-Gil, Andrés & Pérez-Canto, Salvador & Modrego-Rico, Aurelia, 2013. "The Influence of Science and Technology Park Characteristics on Firms’ Innovation Results," MPRA Paper 48829, University Library of Munich, Germany.
  18. Siegel, Donald S. & Westhead, Paul & Wright, Mike, 2003. "Assessing the impact of university science parks on research productivity: exploratory firm-level evidence from the United Kingdom," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1357-1369, November.

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