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Knowledge combinations and the survival of financial services ventures

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Author Info
Wennberg, Karl () (Dept. of Business Administration, Stockholm School of Economics)

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Abstract

This 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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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2008:1.

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Length: 29 pages
Date of creation: 05 Jan 2008
Date of revision:
Publication status: Forthcoming in Journal of evolutionary economics, 2009.
Handle: RePEc:hhb:hastba:2008_001

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, SE 113 83 Stockholm, Sweden
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Related research
Keywords: Entrepreneurship; Spin-out; spin-off; Knowledge; Financial services; Survival analysis;

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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.:
  1. Cooper, Arnold C. & Folta, Timothy B. & Woo, Carolyn, 1995. "Entrepreneurial information search," Journal of Business Venturing, Elsevier, vol. 10(2), pages 107-120, March. [Downloadable!] (restricted)
  2. Zoltan J. Acs & Catherine Armington, 2004. "Job Creation and Persistence in Services and Manufacturing," Papers on Entrepreneurship, Growth and Public Policy 2004-16, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group. [Downloadable!]
    Other versions:
  3. 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. [Downloadable!]
    Other versions:
  4. 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. [Downloadable!] (restricted)
  5. G. M. Peter Swann & Rui Baptista, 1999. "A comparison of clustering dynamics in the US and UK computer industries," Journal of Evolutionary Economics, Springer, vol. 9(3), pages 373-399. [Downloadable!] (restricted)
  6. Klepper, Steven, 2001. "Employee Startups in High-Tech Industries," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 639-74, September.
  7. Michael S. Dahl & Christian Ø.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. [Downloadable!]
  8. Audretsch, David B & Mahmood, Talat, 1994. "Firm Selection and Industry Evolution: The Post-entry Performance of New Firms," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 243-60, September.
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