IDEAS home Printed from https://ideas.repec.org/a/kap/sbusec/v39y2012i4p877-895.html
   My bibliography  Save this article

Knowledge context and entrepreneurial intentions among students

Author

Listed:
  • Dirk Dohse
  • Sascha Walter

Abstract

The current paper analyzes the role of the individual and regional knowledge context in forming university students’ entrepreneurial intentions. As access to knowledge resources is crucial for the growth and survival of knowledge-based start-ups, we argue that an individual’s decision in favor or against becoming an entrepreneur should critically depend on the multilevel context providing her with access to strategically relevant knowledge. A unique dataset for German students and regions allows us to analyze a variety of personal and regional determinants of entrepreneurial intentions among students. At the individual level we find that role models facilitating the transfer of tacit knowledge and the expectation that strong ties will provide know-how and know-who positively impact entrepreneurial intentions. At the regional level we find that a high regional start-up rate in knowledge-based industries and a high growth rate of regional knowledge production positively influence entrepreneurial intentions. Copyright Springer Science+Business Media, LLC. 2012

Suggested Citation

  • Dirk Dohse & Sascha Walter, 2012. "Knowledge context and entrepreneurial intentions among students," Small Business Economics, Springer, vol. 39(4), pages 877-895, November.
  • Handle: RePEc:kap:sbusec:v:39:y:2012:i:4:p:877-895
    DOI: 10.1007/s11187-011-9324-9
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11187-011-9324-9
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1007/s11187-011-9324-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Timothy J. Bartik, 2010. "Small Business Start-Ups in the United States: Estimates of the Effects of Characteristics of States," Book chapters authored by Upjohn Institute researchers, in: Zolton Acs (ed.),Entrepreneurship and regional Development, pages 155-169, W.E. Upjohn Institute for Employment Research.
    3. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    4. Sam Youl Lee & Richard Florida & Zoltan Acs, 2004. "Creativity and Entrepreneurship: A Regional Analysis of New Firm Formation," Regional Studies, Taylor & Francis Journals, vol. 38(8), pages 879-891.
    5. Wagner, Joachim, 2005. "Nascent and Infant Entrepreneurs in Germany: Evidence from the Regional Entrepreneurship Monitor (REM)," IZA Discussion Papers 1522, Institute of Labor Economics (IZA).
    6. Claudio Michelacci & Olmo Silva, 2007. "Why So Many Local Entrepreneurs?," The Review of Economics and Statistics, MIT Press, vol. 89(4), pages 615-633, November.
    7. Ardichvili, Alexander & Cardozo, Richard & Ray, Sourav, 2003. "A theory of entrepreneurial opportunity identification and development," Journal of Business Venturing, Elsevier, vol. 18(1), pages 105-123, January.
    8. Adam B. Jaffe & Manuel Trajtenberg & Rebecca Henderson, 1993. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 577-598.
    9. Tim R. Holcomb & R. Duane Ireland & R. Michael Holmes Jr. & Michael A. Hitt, 2009. "Architecture of Entrepreneurial Learning: Exploring the Link among Heuristics, Knowledge, and Action," Entrepreneurship Theory and Practice, , vol. 33(1), pages 167-192, January.
    10. Evan J. Douglas & Dean A. Shepherd, 2002. "Self-Employment as a Career Choice: Attitudes, Entrepreneurial Intentions, and Utility Maximization," Entrepreneurship Theory and Practice, , vol. 26(3), pages 81-90, April.
    11. Zander, Ivo, 2004. "The microfoundations of cluster stickiness--walking in the shoes of the entrepreneur," Journal of International Management, Elsevier, vol. 10(2), pages 151-175.
    12. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    13. Erik Stam, 2007. "Why Butterflies Don’t Leave: Locational Behavior of Entrepreneurial Firms," Economic Geography, Taylor & Francis Journals, vol. 83(1), pages 27-50, January.
    14. Gilles Duranton & Diego Puga, 2001. "Nursery Cities: Urban Diversity, Process Innovation, and the Life Cycle of Products," American Economic Review, American Economic Association, vol. 91(5), pages 1454-1477, December.
    15. David Audretsch & Dirk Dohse & Annekatrin Niebuhr, 2010. "Cultural diversity and entrepreneurship: a regional analysis for Germany," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 45(1), pages 55-85, August.
    16. Michael Fritsch & Oliver Falck, 2007. "New Business Formation by Industry over Space and Time: A Multidimensional Analysis," Regional Studies, Taylor & Francis Journals, vol. 41(2), pages 157-172.
    17. Yannis Georgellis & John Sessions & Nikolaos Tsitsianis, 2005. "Windfalls, Wealth, and the Transition to Self-Employment," Small Business Economics, Springer, vol. 25(5), pages 407-428, December.
    18. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    19. Feldman, Maryann P. & Audretsch, David B., 1999. "Innovation in cities:: Science-based diversity, specialization and localized competition," European Economic Review, Elsevier, vol. 43(2), pages 409-429, February.
    20. Glaeser, Edward L & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1992. "Growth in Cities," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1126-1152, December.
      • Edward L. Glaeser & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1991. "Growth in Cities," NBER Working Papers 3787, National Bureau of Economic Research, Inc.
      • Glaeser, Edward Ludwig & Kallal, Hedi D. & Scheinkman, Jose A. & Shleifer, Andrei, 1992. "Growth in Cities," Scholarly Articles 3451309, Harvard University Department of Economics.
    21. Minniti, Maria, 2005. "Entrepreneurship and network externalities," Journal of Economic Behavior & Organization, Elsevier, vol. 57(1), pages 1-27, May.
    22. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 282-305, April.
    23. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-559, November.
    24. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    25. 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.
    26. Unger, Jens M. & Rauch, Andreas & Frese, Michael & Rosenbusch, Nina, 2011. "Human capital and entrepreneurial success: A meta-analytical review," Journal of Business Venturing, Elsevier, vol. 26(3), pages 341-358, May.
    27. Arnold C. Cooper & William C. Dunkelberg, 1986. "Entrepreneurship and paths to business ownership," Strategic Management Journal, Wiley Blackwell, vol. 7(1), pages 53-68, January.
    28. Joop Hartog & Mirjam Van Praag & Justin Van Der Sluis, 2010. "If You Are So Smart, Why Aren't You an Entrepreneur? Returns to Cognitive and Social Ability: Entrepreneurs Versus Employees," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(4), pages 947-989, December.
    29. Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August.
    30. Lee, Soo Hoon & Wong, Poh Kam, 2004. "An exploratory study of technopreneurial intentions: a career anchor perspective," Journal of Business Venturing, Elsevier, vol. 19(1), pages 7-28, January.
    31. Joachim Wagner & Rolf Sternberg, 2004. "Start-up activities, individual characteristics, and the regional milieu: Lessons for entrepreneurship support policies from German micro data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 38(2), pages 219-240, June.
    32. Chen, Chao C. & Greene, Patricia Gene & Crick, Ann, 1998. "Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?," Journal of Business Venturing, Elsevier, vol. 13(4), pages 295-316, July.
    33. Scott Shane, 2000. "Prior Knowledge and the Discovery of Entrepreneurial Opportunities," Organization Science, INFORMS, vol. 11(4), pages 448-469, August.
    34. Philip Cooke, 2001. "New Economy Innovation Systems: Biotechnology In Europe And The Usa," Industry and Innovation, Taylor & Francis Journals, vol. 8(3), pages 267-289.
    35. P. Mueller, 2006. "Entrepreneurship in the Region: Breeding Ground for Nascent Entrepreneurs?," Small Business Economics, Springer, vol. 27(1), pages 41-58, August.
    36. Audretsch, David B. & Bönte, Werner & Keilbach, Max, 2008. "Entrepreneurship capital and its impact on knowledge diffusion and economic performance," Journal of Business Venturing, Elsevier, vol. 23(6), pages 687-698, November.
    37. Nile W. Hatch & Jeffrey H. Dyer, 2004. "Human capital and learning as a source of sustainable competitive advantage," Strategic Management Journal, Wiley Blackwell, vol. 25(12), pages 1155-1178, December.
    38. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    39. David B. Audretsch & Max Keilbach, 2007. "The Theory of Knowledge Spillover Entrepreneurship," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1242-1254, November.
    40. Deniz Ucbasaran & Paul Westhead & Mike Wright, 2008. "Opportunity Identification and Pursuit: Does an Entrepreneur’s Human Capital Matter?," Small Business Economics, Springer, vol. 30(2), pages 153-173, February.
    41. Krugman, Paul, 1998. "What's New about the New Economic Geography?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 14(2), pages 7-17, Summer.
    42. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-827, August.
    43. Acs, Zoltan J. & Armington, Catherine, 2004. "The impact of geographic differences in human capital on service firm formation rates," Journal of Urban Economics, Elsevier, vol. 56(2), pages 244-278, September.
    44. 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.
    45. Pia Arenius & Dirk Clercq, 2005. "A Network-based Approach on Opportunity Recognition," Small Business Economics, Springer, vol. 24(3), pages 249-265, February.
    46. Joachim Wagner, 2005. "Nascent and Infant Entrepreneurs in Germany. Evidence from the Regional Entrepreneurship Monitor (REM)," Working Paper Series in Economics 1, University of Lüneburg, Institute of Economics.
    47. Hansemark, Ove C., 2003. "Need for achievement, locus of control and the prediction of business start-ups: A longitudinal study," Journal of Economic Psychology, Elsevier, vol. 24(3), pages 301-319, June.
    48. Audretsch, David B & Feldman, Maryann P, 1996. "R&D Spillovers and the Geography of Innovation and Production," American Economic Review, American Economic Association, vol. 86(3), pages 630-640, June.
    49. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(3), pages 301-331, May.
    50. Carlton, Dennis W, 1983. "The Location and Employment Choices of New Firms: An Econometric Model with Discrete and Continuous Endogenous Variables," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 440-449, August.
    51. Andrew Henley, 2004. "Self-Employment Status: The Role of State Dependence and Initial Circumstances," Small Business Economics, Springer, vol. 22(1), pages 67-82, February.
    52. Thomas Dunn & Douglas Holtz-Eakin, 1996. "Financial Capital, Human Capital, and the Transition to Self-Employment:Evidence from Intergenerational Links," NBER Working Papers 5622, National Bureau of Economic Research, Inc.
    53. David B. Audretsch & Dirk Dohse, 2007. "Location: A Neglected Determinant of Firm Growth," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 143(1), pages 79-107, April.
    54. Lowell W. Busenitz & Chung-Ming Lau, 1996. "A Cross-Cultural Cognitive Model of New Venture Creation," Entrepreneurship Theory and Practice, , vol. 20(4), pages 25-40, July.
    55. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-535, June.
    56. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    57. Bates, Timothy, 1995. "Self-employment entry across industry groups," Journal of Business Venturing, Elsevier, vol. 10(2), pages 143-156, March.
    58. Paul D. Reynolds & Nancy M. Carter & William B. Gartner & Patricia G. Greene, 2004. "The Prevalence of Nascent Entrepreneurs in the United States: Evidence from the Panel Study of Entrepreneurial Dynamics," Small Business Economics, Springer, vol. 23(4), pages 263-284, November.
    59. Souitaris, Vangelis & Zerbinati, Stefania & Al-Laham, Andreas, 2007. "Do entrepreneurship programmes raise entrepreneurial intention of science and engineering students? The effect of learning, inspiration and resources," Journal of Business Venturing, Elsevier, vol. 22(4), pages 566-591, July.
    60. Hector Rocha & Rolf Sternberg, 2005. "Entrepreneurship: The Role of Clusters Theoretical Perspectives and Empirical Evidence from Germany," Small Business Economics, Springer, vol. 24(3), pages 267-292, February.
    61. Catherine Armington & Zoltan Acs, 2002. "The Determinants of Regional Variation in New Firm Formation," Regional Studies, Taylor & Francis Journals, vol. 36(1), pages 33-45.
    62. Pia Arenius & Maria Minniti, 2005. "Perceptual Variables and Nascent Entrepreneurship," Small Business Economics, Springer, vol. 24(3), pages 233-247, February.
    63. Edward L. Glaeser, 2007. "Entrepreneurship and the City," NBER Working Papers 13551, National Bureau of Economic Research, Inc.
    64. Cooper, Arnold C. & Gimeno-Gascon, F. Javier & Woo, Carolyn Y., 1994. "Initial human and financial capital as predictors of new venture performance," Journal of Business Venturing, Elsevier, vol. 9(5), pages 371-395, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dirk Dohse & Sascha G. Walter, 2010. "The role of entrepreneurship education and regional context in forming entrepreneurial intentions," Working Papers 2010/18, Institut d'Economia de Barcelona (IEB).
    2. Dirk Dohse & Sascha G. Walter, 2010. "The role of entrepreneurship education and regional context in forming entrepreneurial intentions," Working Papers 2010/18, Institut d'Economia de Barcelona (IEB).
    3. Walter, Sascha G. & Dohse, Dirk, 2009. "The interplay between entrepreneurship education and regional knowledge potential in forming entrepreneurial intentions," Kiel Working Papers 1549, Kiel Institute for the World Economy (IfW Kiel).
    4. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    5. Peter van der Zwan & Ingrid Verheul & Roy Thurik & Isabel Grilo, 2009. "Entrepreneurial Progress: Climbing the Entrepreneurial Ladder in Europe and the US," Tinbergen Institute Discussion Papers 09-070/3, Tinbergen Institute, revised 17 Mar 2010.
    6. Haifeng Qian & Zoltán J. Ács & Roger R. Stough, 2015. "Regional systems of entrepreneurship: the nexus of human capital, knowledge and new firm formation," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 14, pages 257-285, Edward Elgar Publishing.
    7. David Audretsch & Dirk Dohse & Annekatrin Niebuhr, 2010. "Cultural diversity and entrepreneurship: a regional analysis for Germany," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 45(1), pages 55-85, August.
    8. Sascha G. Walter & K. Praveen Parboteeah & Achim Walter, 2013. "University Departments and Self–Employment Intentions of Business Students: A Cross–Level Analysis," Entrepreneurship Theory and Practice, , vol. 37(2), pages 175-200, March.
    9. Niccolò Ghio & Massimiliano Guerini & Erik Lehmann & Cristina Rossi-Lamastra, 2015. "The emergence of the knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 44(1), pages 1-18, January.
    10. Heinrichs, Simon & Walter, Sascha, 2013. "Who Becomes an Entrepreneur? A 30-Years-Review of Individual-Level Research and an Agenda for Future Research," EconStor Preprints 68590, ZBW - Leibniz Information Centre for Economics.
    11. Vasilios Kanellopoulos & Georgios Fotopoulos, 2019. "The effect of knowledge spillovers on regional new firm formation: The Greek manufacturing case," Environment and Planning A, , vol. 51(4), pages 1005-1030, June.
    12. Canever, Mario Duarte & Carraro, Andre & Kohls, Volnei Krause & Teles, Morgan Yuri Oliveira, 2010. "Entrepreneurship in the Rio Grande do Sul, Brazil: the determinants and consequences for the municipal development," Brazilian Journal of Rural Economy and Sociology (Revista de Economia e Sociologia Rural-RESR), Sociedade Brasileira de Economia e Sociologia Rural, vol. 48(1), pages 1-24, March.
    13. Stuetzer, Michael & Obschonka, Martin & Audretsch, David B. & Wyrwich, Michael & Rentfrow, Peter J. & Coombes, Mike & Shaw-Taylor, Leigh & Satchell, Max, 2016. "Industry structure, entrepreneurship, and culture: An empirical analysis using historical coalfields," European Economic Review, Elsevier, vol. 86(C), pages 52-72.
    14. Enrico Santarelli & Marco Vivarelli, 2007. "Entrepreneurship and the process of firms’ entry, survival and growth," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 16(3), pages 455-488, June.
    15. Bickenbach, Frank & Dohse, Dirk & Liu, Wan-Hsin, 2014. "An inquiry into the determinants of graduate entrepreneurship in Hong Kong and Guangzhou (Mainland China)," Kiel Working Papers 1940, Kiel Institute for the World Economy (IfW Kiel).
    16. Paul A. Coomes & Jose Fernandez & Stephan F. Gohmann, 2013. "The Rate of Proprietorship Among Metropolitan Areas: The Impact of the Local Economic Environment and Capital Resources," Entrepreneurship Theory and Practice, , vol. 37(4), pages 745-770, July.
    17. Erik Lundmark & Anna Krzeminska & Dean A. Shepherd, 2019. "Images of Entrepreneurship: Exploring Root Metaphors and Expanding Upon Them," Entrepreneurship Theory and Practice, , vol. 43(1), pages 138-170, January.
    18. Verheul, Ingrid & Thurik, Roy & Grilo, Isabel & van der Zwan, Peter, 2012. "Explaining preferences and actual involvement in self-employment: Gender and the entrepreneurial personality," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 325-341.
    19. Pekka Stenholm & Zoltán J. Ács & Robert Wuebker, 2015. "Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 20, pages 387-404, Edward Elgar Publishing.
    20. Erik Stam & David Audretsch & Joris Meijaard, 2009. "Renascent entrepreneurship," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 223-237, Springer.
      • Stam, F.C. & Audretsch, D.B. & Meijaard, J., 2006. "Renascent Entrepreneurship," ERIM Report Series Research in Management ERS-2006-017-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

    More about this item

    Keywords

    Knowledge context; Entrepreneurial intentions; Occupational choice; Knowledge spillover; Multilevel analysis; J24; L26; M13; M59; R12;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M59 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Other
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:sbusec:v:39:y:2012:i:4:p:877-895. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.