IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/13300_3.html
   My bibliography  Save this book chapter

Venture Capitalism as a Mechanism for Knowledge Governance

In: The Capitalization of Knowledge

Author

Listed:
  • Cristiano Antonelli
  • Morris Teubal

Abstract

This ground-breaking new volume evaluates the capacity of the triple helix model to represent the recent evolution of local and national systems of innovation. It analyses both the success of the triple helix as a descriptive and empirical model within internationally competitive technology regions as well as its potential as a prescriptive hypothesis for regional or national systems that wish to expand their innovation processes and industrial development. In addition, it examines the legal, economic, administrative, political and cognitive dimensions employed to configure and study, in practical terms, the series of phenomena contained in the triple helix category.

Suggested Citation

  • Cristiano Antonelli & Morris Teubal, 2010. "Venture Capitalism as a Mechanism for Knowledge Governance," Chapters, in: Riccardo Viale & Henry Etzkowitz (ed.), The Capitalization of Knowledge, chapter 3, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:13300_3
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/9781848441149.00011.xml
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Sandy Campart & Etienne Pfister, 2007. "Technology, Cooperation And Stock Market Value: An Event Study Of New Partnership Announcements In The Biotechnology And Pharmaceutical Industries," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 16(1), pages 31-49.
    2. Bronwyn Hall, 2004. "The financing of research and development," Chapters, in: Anthony Bartzokas & Sunil Mani (ed.), Financial Systems, Corporate Investment in Innovation, and Venture Capital, chapter 2, Edward Elgar Publishing.
    3. Michel Quere, 2004. "National systems of innovation and national systems of corporate governance: a missing link?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 13(1), pages 77-90.
    4. David J. TEECE, 2008. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," World Scientific Book Chapters, in: The Transfer And Licensing Of Know-How And Intellectual Property Understanding the Multinational Enterprise in the Modern World, chapter 5, pages 67-87, World Scientific Publishing Co. Pte. Ltd..
    5. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    6. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-162, April.
    7. Carter Bloch, 2008. "The Market Valuation Of Knowledge Assets," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(3), pages 269-284.
    8. Sah, Raaj Kumar & Stiglitz, Joseph E, 1986. "The Architecture of Economic Systems: Hierarchies and Polyarchies," American Economic Review, American Economic Association, vol. 76(4), pages 716-727, September.
    9. Pier-Paolo Saviotti & Andreas Pyka, 2004. "Economic Development, Variety and Employment," Revue économique, Presses de Sciences-Po, vol. 55(6), pages 1023-1049.
    10. Bart Nooteboom, 2004. "Governance and competence: how can they be combined?," Cambridge Journal of Economics, Oxford University Press, vol. 28(4), pages 505-525, July.
    11. Sandy Campart & Etienne Pfister, 2007. "Technology, Cooperation And Stock Market Value : An Event Study Of New Partnership Announcements In The Biotechnology And Pharmaceutical Industries," Post-Print halshs-00337305, HAL.
    12. Joseph E. Stiglitz, 2000. "The Contributions of the Economics of Information to Twentieth Century Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(4), pages 1441-1478.
    13. Nicola De Liso, 2006. "Charles Babbage, Technological Change and the "National System of Innovation"," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(3), pages 470-485, September.
    14. Sah, Raaj Kumar & Stiglitz, Joseph E, 1988. "Committees, Hierarchies and Polyarchies," Economic Journal, Royal Economic Society, vol. 98(391), pages 451-470, June.
    15. Rudolf Richter, 2007. "The Market as Organization," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 483-492, September.
    16. G. B. Richardson, 1998. "The Economics of Imperfect Knowledge," Books, Edward Elgar Publishing, number 1524.
    17. Fornahl, Dirk & Menzel, Max-Peter, 2003. "Co-Development Of Firm Foundings And Regional Clusters," Hannover Economic Papers (HEP) dp-284, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    18. A. Bozkaya & B. Van Pottelsberghe De La Potterie, 2008. "Who Funds Technology-Based Small Firms? Evidence From Belgium," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(1-2), pages 97-122.
    19. Cristiano Antonelli, 2006. "The Business Governance of Localized Knowledge: An Information Economics Approach for the Economics of Knowledge," Industry and Innovation, Taylor & Francis Journals, vol. 13(3), pages 227-261.
    20. Claude Ménard, 2004. "The Economics of Hybrid Organizations," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 345-376, September.
    21. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
    22. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297-297.
    23. Morris Teubal & Gil Avnimelech & Alon Gayego, 2002. "Company Growth, Acquisitions and Access to Complementary Assets in Israel's Data Security Sector," European Planning Studies, Taylor & Francis Journals, vol. 10(8), pages 933-953, December.
    24. Avnimelech, Gil & Teubal, Morris, 2006. "Creating venture capital industries that co-evolve with high tech: Insights from an extended industry life cycle perspective of the Israeli experience," Research Policy, Elsevier, vol. 35(10), pages 1477-1498, December.
    25. Dennis W. Carlton & Michael Waldman, 2002. "The Strategic Use of Tying to Preserve and Create Market Power in Evolving Industries," RAND Journal of Economics, The RAND Corporation, vol. 33(2), pages 194-220, Summer.
    26. Claude Menard & Mary M. Shirley (ed.), 2005. "Handbook of New Institutional Economics," Springer Books, Springer, number 978-0-387-25092-2, September.
    27. Katrin Hussinger, 2006. "Is Silence Golden? Patents Versus Secrecy At The Firm Level," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(8), pages 735-752.
    28. G. Avnimelech & M. Teubal, 2008. "From Direct Support Of Business Sector R&D/Innovation To Targeting Venture Capital/Private Equity: A Catching-Up Innovation And Technology Policy Life Cycle Perspective," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(1-2), pages 153-172.
    29. Claude Ménard (ed.), 2000. "Institutions, Contracts and Organizations," Books, Edward Elgar Publishing, number 1921.
    30. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
    31. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    32. Gil Avnimelech & Morris Teubal, 2004. "Venture capital start-up co-evolution and the emergence & development of Israel's new high tech cluster," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 13(1), pages 33-60.
    33. Paul Gompers & Josh Lerner, 2001. "The Venture Capital Revolution," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 145-168, Spring.
    34. Antonelli, Cristiano, 2005. "The Governance Of Localized Knowledge: An Information Economics Approach For The Economics Of Knowledge," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200502, University of Turin.
    35. Dominique Foray, 2006. "The Economics of Knowledge," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262562235, December.
    36. Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
    37. Richardson, G B, 1972. "The Organisation of Industry," Economic Journal, Royal Economic Society, vol. 82(327), pages 883-896, September.
    38. William James Adams & Janet L. Yellen, 1976. "Commodity Bundling and the Burden of Monopoly," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(3), pages 475-498.
    39. Günseli Baygan & Michael Freudenberg, 2000. "The Internationalisation of Venture Capital Activity in OECD Countries: Implications for Measurement and Policy," OECD Science, Technology and Industry Working Papers 2000/7, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cristiano Antonelli & Federico Barbiellini Amidei, 2011. "The Dynamics of Knowledge Externalities," Books, Edward Elgar Publishing, number 13292.
    2. SAU, Lino, 2007. "New Pecking Order Financing for Innovative Firms: an Overview," MPRA Paper 3659, University Library of Munich, Germany.
    3. Mina, A. & Connell, D. & Hughes, A., 2009. "Models of Technology Development in Intermediate Research Organisations," Working Papers wp396, Centre for Business Research, University of Cambridge.
    4. Cristiano Antonelli & Morris Teubal, 2009. "Venture Capitalism, New Markets and Innovation-led Economic Growth," ICER Working Papers 03-2009, ICER - International Centre for Economic Research.
    5. Alessandro Rosiello & Morris Teubal & Gil Avnimelech, 2008. "Towards the Framing of Venture Capital Policies: a Systems-Evolutionary Perspective with Particular Reference to the UK/Scotland and Israeli Experiences," ICER Working Papers 21-2008, ICER - International Centre for Economic Research.
    6. Antonelli, Cristiano, 2005. "The Governance Of Localized Knowledge: An Information Economics Approach For The Economics Of Knowledge," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200502, University of Turin.
    7. Cristiano Antonelli, 2011. "The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 1, Edward Elgar Publishing.
    8. Antonelli, Cristiano, 2006. "The Economics of University: a Knowledge Governance Approach," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200602, University of Turin.

    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. Antonelli, Cristiano & Teubal, Morris, 2008. "Venture Capital as a Mechanism for Knowledge Governance: New Markets and Innovation-Led Economic Growth," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200805, University of Turin.
    2. Cristiano Antonelli & Morris Teubal, 2007. "Venture Capitalism as a Mechanism for Knowledge Governance: the Emergence of the Markets for Knowledge Intensive Property Rights," ICER Working Papers 12-2007, ICER - International Centre for Economic Research.
    3. Cristiano Antonelli & Morris Teubal, 2012. "From the Corporation to Venture Capitalism: New Surrogate Markets for Knowledge and Innovation Led Economic Growth," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 38, Edward Elgar Publishing.
    4. Cristiano Antonelli & Morris Teubal, 2009. "Venture Capitalism, New Markets and Innovation-led Economic Growth," ICER Working Papers 03-2009, ICER - International Centre for Economic Research.
    5. Michael Dietrich & Jackie Krafft (ed.), 2012. "Handbook on the Economics and Theory of the Firm," Books, Edward Elgar Publishing, number 13623.
    6. Antonelli, Cristiano, 2003. "The Governance of Technological Knowledge: Strategies, Processes and Public Policies," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200306, University of Turin.
    7. Davide Consoli & Pier Paolo Patrucco, 2011. "Complexity and the Coordination of Technological Knowledge: The Case of Innovation Platforms," Chapters, in: Handbook on the Economic Complexity of Technological Change, chapter 8 Edward Elgar Publishing.
    8. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
    9. Antonelli, Cristiano, 2005. "Models of knowledge and systems of governance," Journal of Institutional Economics, Cambridge University Press, vol. 1(1), pages 51-73, June.
    10. Alessandro Rosiello & Morris Teubal & Gil Avnimelech, 2008. "Towards the Framing of Venture Capital Policies: a Systems-Evolutionary Perspective with Particular Reference to the UK/Scotland and Israeli Experiences," ICER Working Papers 21-2008, ICER - International Centre for Economic Research.
    11. Gil Avnimelech & Alessandro Rosiello & Morris Teubal, 2010. "Evolutionary interpretation of venture capital policy in Israel, Germany, UK and Scotland," Science and Public Policy, Oxford University Press, vol. 37(2), pages 101-112, March.
    12. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, January.
    13. Avnimelech, Gil & Teubal, Morris, 2006. "Creating venture capital industries that co-evolve with high tech: Insights from an extended industry life cycle perspective of the Israeli experience," Research Policy, Elsevier, vol. 35(10), pages 1477-1498, December.
    14. Cristiano Antonelli, 2008. "The new economics of the university: a knowledge governance approach," The Journal of Technology Transfer, Springer, vol. 33(1), pages 1-22, February.
    15. Cristiano Antonelli, 2007. "Localized Technological Knowledge: Pecuniary Knowledge Externalities And Appropriability," Papers on Economics and Evolution 2007-09, Philipps University Marburg, Department of Geography.
    16. Antonelli, Cristiano, 2008. "Pecuniary Externalities: the Convergence of Directed Technological Change and the Emergence of Innovation Systems," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200807, University of Turin.
    17. Davide Consoli & Pier Paolo Patrucco, 2011. "Complexity and the Coordination of Technological Knowledge: The Case of Innovation Platforms," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 8, Edward Elgar Publishing.
    18. Antonelli, Cristiano, 2005. "The Governance Of Localized Knowledge: An Information Economics Approach For The Economics Of Knowledge," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200502, University of Turin.
    19. Cohen, Wesley M., 2010. "Fifty Years of Empirical Studies of Innovative Activity and Performance," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 129-213, Elsevier.
    20. Harabi, Najib, 1994. "Technischer Fortschritt in der Schweiz: Empirische Ergebnisse aus industrieökonomischer Sicht [Technischer Fortschritt in der Schweiz:Empirische Ergebnisse aus industrieökonomischer Sicht]," MPRA Paper 6725, University Library of Munich, Germany.

    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:elg:eechap:13300_3. 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: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.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.