Knowledge combinations and the survival of financial services ventures
AbstractThis paper investigates the role of knowledge in the evolution of new financial services ventures in Sweden between 1990 and 2002. Drawing upon economic theories of human capital and spin-out entrepreneurship, we investigate if knowledge from prior employment in the financial and technological industries facilitates the survival of new entrepreneurial firms. Based on a database tracking the evolution of 1,077 financial services ventures, we find that firms with more extensive knowledge from the financial services and high-tech sectors have higher chances of survival than firms with more narrow knowledge bases. Our findings offer contributions to the emerging literature on spin-out entrepreneurship and to research on entrepreneurship in services.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 19 (2009)
Issue (Month): 2 (April)
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00191/index.htm
Other versions of this item:
- Wennberg, Karl, 2008. "Knowledge combinations and the survival of financial services ventures," Working Paper Series in Business Administration, Stockholm School of Economics 2008:1, Stockholm School of Economics.
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Klepper, Steven, 2001. "Employee Startups in High-Tech Industries," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 639-74, September.
- Audretsch, David B & Mahmood, Talat, 1994. "Firm Selection and Industry Evolution: The Post-entry Performance of New Firms," Journal of Evolutionary Economics, Springer, Springer, vol. 4(3), pages 243-60, September.
- Cooper, Arnold C. & Folta, Timothy B. & Woo, Carolyn, 1995. "Entrepreneurial information search," Journal of Business Venturing, Elsevier, vol. 10(2), pages 107-120, March.
- Murat F. Iyigun & Ann L. Owen, 1997.
"Risk, entrepreneurship and human capital accumulation,"
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
1997-37, Board of Governors of the Federal Reserve System (U.S.).
- Iyigun, Murat F & Owen, Ann L, 1998. "Risk, Entrepreneurship, and Human-Capital Accumulation," American Economic Review, American Economic Association, vol. 88(2), pages 454-57, May.
- G. M. Peter Swann & Rui Baptista, 1999. "A comparison of clustering dynamics in the US and UK computer industries," Journal of Evolutionary Economics, Springer, Springer, vol. 9(3), pages 373-399.
- Michael S. Dahl & Christian Ã˜.R. Pedersen & Bent Dalum, 2003. "Entry by Spinoff in a High-tech Cluster," DRUID Working Papers 03-11, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Catherine Armington & Zoltan Acs, 2004.
"Job creation and persistence in services and manufacturing,"
Journal of Evolutionary Economics, Springer,
Springer, vol. 14(3), pages 309-325, 07.
- Zoltan J. Acs & Catherine Armington, 2004. "Job Creation and Persistence in Services and Manufacturing," Papers on Entrepreneurship, Growth and Public Policy, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group 2004-16, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
- van der Aa, Wietze & Elfring, Tom, 2002. "Realizing innovation in services," Scandinavian Journal of Management, Elsevier, Elsevier, vol. 18(2), pages 155-171, June.
- Michael S. Dahl & Toke Reichstein, 2005.
"Are you experienced? Prior experience and the survival of new organizations,"
DRUID Working Papers
05-01, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Michael Dahl & Toke Reichstein, 2007. "Are You Experienced? Prior Experience and the Survival of New Organizations," Industry and Innovation, Taylor & Francis Journals, vol. 14(5), pages 497-511.
- Agarwal, Rajshree & Echambadi, Raj & Franco, April M. & Sarkar, M. B., 2002. "Knowledge Transfer through Congenital Learning: Spin-Out Generation, Growth and Survival," Working Papers 02-0101, University of Illinois at Urbana-Champaign, College of Business.
- Wennberg, K. & Tether, B. & Li, C. & Mina, A., 2010. "Turning Digital: Diversification in UK Design Consultancy Services," ESRC Centre for Business Research - Working Papers, ESRC Centre for Business Research wp413, ESRC Centre for Business Research.
- Wennberg, Karl & Wiklund, Johan & Wright, Mike, 2011. "The effectiveness of university knowledge spillovers: Performance differences between university spinoffs and corporate spinoffs," Research Policy, Elsevier, vol. 40(8), pages 1128-1143, October.
- JosÃƒÂ© Belso-MartÃƒÂnez & Xavier Molina-Morales & Francisco MÃƒÂ¡s-VerdÃƒÂº, 2011. "How cluster membership places the mediatior effect of the internal resources on the association between KIBS and the growth of new innovative firms," ERSA conference papers ersa11p1732, European Regional Science Association.
- Werner, Arndt & Moog, Petra, 2009. "Why do Employees Leave Their Jobs for Self-Employment? – The Impact of Entrepreneurial Working Conditions in Small Firms," MPRA Paper 18826, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.