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A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities

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  • Keld Laursen
  • Francesca Masciarelli
  • Toke Reichstein

Abstract

Laursen K., Masciarelli F. and Reichstein T. A matter of location: the role of regional social capital in overcoming the liability of newness in R&D acquisition activities, Regional Studies. External knowledge acquisition is a precondition for firms’ competitive advantage. However, young firms exhibit a lower propensity to acquire external research and development (R&D) than their older counterparts. The paper explores the role of regional social capital in moderating this aspect of the liability of newness. The results show that young firms operating in regions with low levels of social capital are less likely to acquire R&D externally. However, this is not the case in regions with high levels of social capital, suggesting that the liability of newness in terms of acquisition of external R&D does not play a role in these regions.

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  • Keld Laursen & Francesca Masciarelli & Toke Reichstein, 2016. "A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities," Regional Studies, Taylor & Francis Journals, vol. 50(9), pages 1537-1550, September.
    • Handle: RePEc:taf:regstd:v:50:y:2016:i:9:p:1537-1550
    DOI: 10.1080/00343404.2015.1041370
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    Cited by:

    1. Yan Zuo & Shenyang Jiang & Jiang Wei, 2022. "Can corporate social responsibility mitigate the liability of newness? Evidence from China," Small Business Economics, Springer, vol. 59(2), pages 573-592, August.
    2. Francesca Di Pietro & Francesca Masciarelli, 2022. "The Effect of Local Religiosity on Financing Cross-Regional Entrepreneurial Projects Via Crowdfunding (Local Religiosity and Crowdfinancing)," Journal of Business Ethics, Springer, vol. 178(2), pages 429-443, June.
    3. Kelchtermans, Stijn & Neicu, Daniel & Teirlinck, Peter, 2020. "The role of peer effects in firms’ usage of R&D tax exemptions," Journal of Business Research, Elsevier, vol. 108(C), pages 74-91.
    4. Migliori, Stefania & De Massis, Alfredo & Maturo, Fabrizio & Paolone, Francesco, 2020. "How does family management affect innovation investment propensity? The key role of innovation impulses," Journal of Business Research, Elsevier, vol. 113(C), pages 243-256.
    5. Lee, Daeyong, 2018. "Impact of the excise tax on firm R&D and performance in the medical device industry: Evidence from the Affordable Care Act," Research Policy, Elsevier, vol. 47(5), pages 854-871.
    6. Nikhil Ramkrishna Bandodkar & Renu Singh, 2022. "Small and Startup IT Firms, Information Chasms, and the Market for Acquisitions," Businesses, MDPI, vol. 2(3), pages 1-21, September.
    7. Mariano Nieto & Nuria González-Álvarez, 2016. "Social capital effects on the discovery and exploitation of entrepreneurial opportunities," International Entrepreneurship and Management Journal, Springer, vol. 12(2), pages 507-530, June.
    8. Rafiq, Shuddhasattwa & Salim, Ruhul & Smyth, Russell, 2016. "The moderating role of firm age in the relationship between R&D expenditure and financial performance: Evidence from Chinese and US mining firms," Economic Modelling, Elsevier, vol. 56(C), pages 122-132.
    9. Hung Quang Doan & Francesca Masciarelli & Andrea Prencipe & Nam Hoang Vu, 2023. "Social capital and firm performance in transition economies," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(4), pages 751-780, December.
    10. Evila Piva & Luca Grilli & Cristina Rossi-Lamastra, 2011. "The Creation of High-Tech Entrepreneurial Ventures at the Local Level: The Role of Local Competences and Communication Infrastructures," Industry and Innovation, Taylor & Francis Journals, vol. 18(6), pages 563-580, August.

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