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What turns knowledge into innovative products? The role of entrepreneurship and knowledge spillovers

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  • Joern Block

    ()

  • Roy Thurik

    ()

  • Haibo Zhou

    ()

Abstract

The knowledge spillover theory of entrepreneurship seeks to explain the fundamentals and consequences of entrepreneurship with respect to economic performance. This paper uses the knowledge spillover theory to explain different innovation outcomes. We hypothesize that a high rate of entrepreneurship facilitates the process of turning knowledge into new-to-the-market innovation but has no effect on the relationship between knowledge and new-to-the-firm innovation. Our results using European country-level and pooled OLS, fixed- and random-effects regressions show that a high rate of entrepreneurship increases the chances that knowledge will become new-to-the-market innovation. The findings highlight the importance of Schumpeterian entrepreneurship in the process of the commercialization of knowledge. We discuss the implications for entrepreneurship and innovation policy. Copyright The Author(s) 2013

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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 23 (2013)
Issue (Month): 4 (September)
Pages: 693-718

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Handle: RePEc:spr:joevec:v:23:y:2013:i:4:p:693-718

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Related research

Keywords: Innovation; Entrepreneurship; Knowledge spillovers; Patents; Commercialization of knowledge; Community innovation survey; M13; O31;

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Cited by:
  1. D.B. Audretsch & A.R. Thurik, 2010. "Unraveling the Shift to the Entrepreneurial Economy," Tinbergen Institute Discussion Papers 10-080/3, Tinbergen Institute, revised 02 Apr 2011.
  2. Jose Maria Millan & Emilio Congregado & Concepcion Roman & Mirjam van Praag & Andre van Stel, 2011. "The Value of an Educated Population for an Individual's Entrepreneurship Success," Tinbergen Institute Discussion Papers 11-066/3, Tinbergen Institute, revised 06 May 2014.

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