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.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2008:1.
Length: 29 pages
Date of creation: 05 Jan 2008
Date of revision:
Publication status: Forthcoming in Journal of evolutionary economics, 2009.
Contact details of provider:
Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, SE 113 83 Stockholm, Sweden
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
Web page: http://www.hhs.se/
More information through EDIRC
Entrepreneurship; Spin-out; spin-off; Knowledge; Financial services; Survival analysis;
Other versions of this item:
- Karl Wennberg, 2009. "Knowledge combinations and the survival of financial services ventures," Journal of Evolutionary Economics, Springer, vol. 19(2), pages 259-276, April.
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-01-19 (All new papers)
- NEP-ENT-2008-01-19 (Entrepreneurship)
- NEP-IPR-2008-01-19 (Intellectual Property Rights)
- NEP-KNM-2008-01-19 (Knowledge Management & Knowledge Economy)
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