IDEAS home Printed from https://ideas.repec.org/a/eee/respol/v55y2026i1s004873332500191x.html

Knowledge spillover of innovation: Entrepreneurial difference

Author

Listed:
  • Audretsch, David B.
  • Belitski, Maksim

Abstract

This paper extends the knowledge spillover theory of entrepreneurship and innovation to explain how firms of different ages (startups vs. incumbents) and sizes (small vs. medium/large) benefit differently from external knowledge collaboration. Drawing on the distinction between active (formal) and passive (informal) spillovers, we examine how the intensity of knowledge collaboration influences two key innovation outcomes: product innovation and new market entry. Using a panel dataset of 27,685 UK firms (2005–2015), we show that the gains from knowledge spillovers for all types of firms are subject to diminishing marginal returns as collaboration intensity increases, while the findings between startups and incumbents are more nuanced than between small and medium/large firms. The benefits from knowledge spillover of innovation vary by knowledge spillover type, intensity, and mode of engagement, as well as innovation outcome. These findings refine the knowledge spillover theory by emphasizing the importance of firm age over size (entrepreneurial difference) in moderating innovation outcomes.

Suggested Citation

  • Audretsch, David B. & Belitski, Maksim, 2026. "Knowledge spillover of innovation: Entrepreneurial difference," Research Policy, Elsevier, vol. 55(1).
    • Handle: RePEc:eee:respol:v:55:y:2026:i:1:s004873332500191x
    DOI: 10.1016/j.respol.2025.105362
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S004873332500191X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.respol.2025.105362?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Audretsch, David B & Vivarelli, Marco, 1996. "Firms Size and R&D Spillovers: Evidence from Italy," Small Business Economics, Springer, vol. 8(3), pages 249-258, June.
    2. David B. Audretsch & Maksim Belitski, 2024. "Geography of knowledge collaboration and innovation in Schumpeterian firms," Regional Studies, Taylor & Francis Journals, vol. 58(4), pages 821-840, April.
    3. repec:hal:journl:hal-02312272 is not listed on IDEAS
    4. Mansfield, Edwin & Schwartz, Mark & Wagner, Samuel, 1981. "Imitation Costs and Patents: An Empirical Study," Economic Journal, Royal Economic Society, vol. 91(364), pages 907-918, December.
    5. Niccolò Ghio & Massimiliano Guerini & Erik Lehmann & Cristina Rossi-Lamastra, 2015. "The emergence of the knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 44(1), pages 1-18, January.
    6. Alex Coad & Jacob Rubæk Holm & Jackie Krafft & Francesco Quatraro, 2018. "Firm age and performance," Journal of Evolutionary Economics, Springer, vol. 28(1), pages 1-11, January.
    7. Becker, Bettina & Roper, Stephen & Vanino, Enrico, 2023. "Assessing innovation spillovers from publicly funded R&D and innovation support: Evidence from the UK," Technovation, Elsevier, vol. 128(C).
    8. VanderWerf, Pieter A., 1992. "Explaining downstream innovation by commodity suppliers with expected innovation benefit," Research Policy, Elsevier, vol. 21(4), pages 315-333, August.
    9. Samantha R. Bradley & Christopher S. Hayter & Albert N. Link, 2013. "Models and Methods of University Technology Transfer," UNCG Economics Working Papers 13-10, University of North Carolina at Greensboro, Department of Economics.
    10. Ashish Arora & Alfonso Gambardella, 2010. "Ideas for rent: an overview of markets for technology," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(3), pages 775-803, June.
    11. René Belderbos & Martin Carree & Boris Lokshin, 2006. "Complementarity in R&D Cooperation Strategies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 28(4), pages 401-426, June.
    12. David B. Audretsch & Max Keilbach, 2007. "The Theory of Knowledge Spillover Entrepreneurship," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1242-1254, November.
    13. Bruno Cassiman & Reinhilde Veugelers, 2002. "R&D Cooperation and Spillovers: Some Empirical Evidence from Belgium," American Economic Review, American Economic Association, vol. 92(4), pages 1169-1184, September.
    14. René Belderbos & Martin Carree & Boris Lokshin & Juan Fernández Sastre, 2015. "Inter-temporal patterns of R&D collaboration and innovative performance," The Journal of Technology Transfer, Springer, vol. 40(1), pages 123-137, February.
    15. Konstantinos I. Stouras & Jeremy Hutchison-Krupat & Raul O. Chao, 2022. "The Role of Participation in Innovation Contests," Management Science, INFORMS, vol. 68(6), pages 4135-4150, June.
    16. Ulrich Lichtenthaler & Eckhard Lichtenthaler, 2009. "A Capability‐Based Framework for Open Innovation: Complementing Absorptive Capacity," Journal of Management Studies, Wiley Blackwell, vol. 46(8), pages 1315-1338, December.
    17. Messeni Petruzzelli, Antonio & Ardito, Lorenzo & Savino, Tommaso, 2018. "Maturity of knowledge inputs and innovation value: The moderating effect of firm age and size," Journal of Business Research, Elsevier, vol. 86(C), pages 190-201.
    18. Zoltan J. Acs & David B. Audretsch, 2008. "Innovation in Large and Small Firms: An Empirical Analysis," Chapters, in: Entrepreneurship, Growth and Public Policy, chapter 1, pages 3-15, Edward Elgar Publishing.
    19. Maryann P Feldman & Ludovic Dibaggio & Tan Tran, 2023. "The temporal value of local scientific expertise," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 32(3), pages 647-672.
    20. Stolpe, Michael, 2002. "Determinants of knowledge diffusion as evidenced in patent data: the case of liquid crystal display technology," Research Policy, Elsevier, vol. 31(7), pages 1181-1198, September.
    21. Bruno Cassiman & Reinhilde Veugelers & Pluvia Zuniga, 2008. "In search of performance effects of (in)direct industry science links," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 17(4), pages 611-646, August.
    22. Maribel Guerrero & David Urbano, 2014. "Academics’ start-up intentions and knowledge filters: an individual perspective of the knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 43(1), pages 57-74, June.
    23. Donald Patton & Martin Kenney, 2010. "The Role of the University in the Genesis and Evolution of Research-based Clusters," Chapters, in: Dirk Fornahl & Sebastian Henn & Max-Peter Menzel (ed.), Emerging Clusters, chapter 9, Edward Elgar Publishing.
    24. Andrea Caragliu & Laura de Dominicis & Henri L.F. de Groot, 2016. "Both Marshall and Jacobs were Right!," Economic Geography, Taylor & Francis Journals, vol. 92(1), pages 87-111, January.
    25. David B. Audretsch & Erik Lehmann, 2006. "Entrepreneurial Access and Absorption of Knowledge Spillovers: Strategic Board and Managerial Composition for Competitive Advantage," Journal of Small Business Management, Taylor & Francis Journals, vol. 44(2), pages 155-166, April.
    26. Link, Albert N., 2015. "Capturing Knowledge: Private Gains and Public Gains from University Research Partnerships," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 11(3), pages 139-206, November.
    27. Maryann Feldman & Ludovic Dibiaggio & Tan Tran, 2023. "The temporal value of local scientific expertise," Post-Print hal-04132814, HAL.
    28. Acs, Zoltan J. & Audretsch, David B., 1987. "Innovation in large and small firms," Economics Letters, Elsevier, vol. 23(1), pages 109-112.
    29. Scherer, F M, 1982. "Inter-Industry Technology Flows and Productivity Growth," The Review of Economics and Statistics, MIT Press, vol. 64(4), pages 627-634, November.
    30. Klofsten, Magnus & Fayolle, Alain & Guerrero, Maribel & Mian, Sarfraz & Urbano, David & Wright, Mike, 2019. "The entrepreneurial university as driver for economic growth and social change - Key strategic challenges," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 149-158.
    31. Natalya Radko & Maksim Belitski & Yelena Kalyuzhnova, 2023. "Conceptualising the entrepreneurial university: the stakeholder approach," The Journal of Technology Transfer, Springer, vol. 48(3), pages 955-1044, June.
    32. Bronwyn H. Hall & Francesca Lotti & Jacques Mairesse, 2013. "Evidence on the impact of R&D and ICT investments on innovation and productivity in Italian firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(3), pages 300-328, April.
    33. Nicholas Bloom & Mark Schankerman & John Van Reenen, 2013. "Identifying Technology Spillovers and Product Market Rivalry," Econometrica, Econometric Society, vol. 81(4), pages 1347-1393, July.
    34. Zysman, John & Kenney, Martin, 2016. "The Next Phase in the Digital Revolution: Platforms, Abundant Computing, Growth and Employment," ETLA Reports 61, The Research Institute of the Finnish Economy.
    35. David B. Audretsch, 1995. "Innovation and Industry Evolution," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011468, December.
    36. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
    37. David Audretsch, 2014. "From the entrepreneurial university to the university for the entrepreneurial society," The Journal of Technology Transfer, Springer, vol. 39(3), pages 313-321, June.
    38. Kafouros, Marios & Love, James H & Ganotakis, Panagiotis & Konara, Palitha, 2020. "Experience in R&D collaborations, innovative performance and the moderating effect of different dimensions of absorptive capacity," Technological Forecasting and Social Change, Elsevier, vol. 150(C).
    39. Philippe Aghion & Xavier Jaravel, 2015. "Knowledge Spillovers, Innovation and Growth," Economic Journal, Royal Economic Society, vol. 0(583), pages 533-573, March.
    40. Audretsch, David Bruce & Belitski, Maksim & Spadavecchia, Anna & Zahra, Shaker A., 2024. "The more, the merrier or the less is more? The role of firm capabilities and industry in the knowledge spillover of innovation," Technovation, Elsevier, vol. 138(C).
    41. Beaudry, Catherine & Schiffauerova, Andrea, 2009. "Who's right, Marshall or Jacobs? The localization versus urbanization debate," Research Policy, Elsevier, vol. 38(2), pages 318-337, March.
    42. Martin Kenney & Petri Rouvinen & Timo Seppälä & John Zysman, 2019. "Platforms and industrial change," Industry and Innovation, Taylor & Francis Journals, vol. 26(8), pages 871-879, September.
    43. Mariani, Marcello M. & Belitski, Maksim, 2023. "The effect of coopetition intensity on first mover advantage and imitation in innovation related coopetition: Empirical evidence from UK firms," European Management Journal, Elsevier, vol. 41(5), pages 779-791.
    44. Kenney, Martin & Patton, Donald, 2011. "Does inventor ownership encourage university research-derived entrepreneurship? A six university comparison," Research Policy, Elsevier, vol. 40(8), pages 1100-1112, October.
    45. Audretsch, David B & Feldman, Maryann P, 1996. "R&D Spillovers and the Geography of Innovation and Production," American Economic Review, American Economic Association, vol. 86(3), pages 630-640, June.
    46. Riccardo Fini & Markus Perkmann & Jan-Michael Ross, 2022. "Attention to Exploration: The Effect of Academic Entrepreneurship on the Production of Scientific Knowledge," Organization Science, INFORMS, vol. 33(2), pages 688-715, March.
    47. Bernal, Pilar & Carree, Martin & Lokshin, Boris, 2022. "Knowledge spillovers, R&D partnerships and innovation performance," Technovation, Elsevier, vol. 115(C).
    48. Marcel Bogers, 2011. "The open innovation paradox: knowledge sharing and protection in R&D collaborations," European Journal of Innovation Management, Emerald Group Publishing Limited, vol. 14(1), pages 93-117, January.
    49. Tether, Bruce S., 2002. "Who co-operates for innovation, and why: An empirical analysis," Research Policy, Elsevier, vol. 31(6), pages 947-967, August.
    50. Maribel Guerrero & David Urbano & Alain Fayolle & Magnus Klofsten & Sarfraz Mian, 2016. "Entrepreneurial universities: emerging models in the new social and economic landscape," Small Business Economics, Springer, vol. 47(3), pages 551-563, October.
    51. Bruno Cassiman & Reinhilde Veugelers, 2006. "In Search of Complementarity in Innovation Strategy: Internal R& D and External Knowledge Acquisition," Management Science, INFORMS, vol. 52(1), pages 68-82, January.
    52. Audretsch, David B. & Feldman, Maryann P., 2004. "Knowledge spillovers and the geography of innovation," Handbook of Regional and Urban Economics, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 61, pages 2713-2739, Elsevier.
    53. André Pahnke & Friederike Welter & David B. Audretsch, 2023. "In the eye of the beholder? Differentiating between SMEs and Mittelstand," Small Business Economics, Springer, vol. 60(2), pages 729-743, February.
    54. Pierre-Alexandre Balland & Ron Boschma & Koen Frenken, 2015. "Proximity and Innovation: From Statics to Dynamics," Regional Studies, Taylor & Francis Journals, vol. 49(6), pages 907-920, June.
    55. Ting Zhang & Dan Gerlowski & Zoltan Acs, 2022. "Working from home: small business performance and the COVID-19 pandemic," Small Business Economics, Springer, vol. 58(2), pages 611-636, February.
    56. Kobarg, Sebastian & Stumpf-Wollersheim, Jutta & Welpe, Isabell M., 2019. "More is not always better: Effects of collaboration breadth and depth on radical and incremental innovation performance at the project level," Research Policy, Elsevier, vol. 48(1), pages 1-10.
    57. Laursen, Keld & Salter, Ammon J., 2014. "The paradox of openness: Appropriability, external search and collaboration," Research Policy, Elsevier, vol. 43(5), pages 867-878.
    58. Santamara, Llus & Nieto, Mara Jess & Barge-Gil, Andrs, 2009. "Beyond formal R&D: Taking advantage of other sources of innovation in low- and medium-technology industries," Research Policy, Elsevier, vol. 38(3), pages 507-517, April.
    59. Maksim Belitski & Rosa Caiazza & Yuliya Rodionova, 2020. "Investment in training and skills for innovation in entrepreneurial start-ups and incumbents: evidence from the United Kingdom," International Entrepreneurship and Management Journal, Springer, vol. 16(2), pages 617-640, June.
    60. Maribel Guerrero & David Urbano & Alain Fayolle & Magnus Klofsten & Sarfraz Mian, 2016. "Entrepreneurial universities : emerging models in the new social and economic landscape," Post-Print hal-01988263, HAL.
    61. Mansfield, Edwin, 1985. "How Rapidly Does New Industrial Technology Leak Out?," Journal of Industrial Economics, Wiley Blackwell, vol. 34(2), pages 217-223, December.
    62. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    63. James H. Love & Stephen Roper & Priit Vahter, 2014. "Learning from openness: The dynamics of breadth in external innovation linkages," Strategic Management Journal, Wiley Blackwell, vol. 35(11), pages 1703-1716, November.
    64. David B Audretsch & Maksim Belitski, 2022. "The knowledge spillover of innovation [Resource and output trends in the United States since 1870]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(6), pages 1329-1357.
    65. Denicolai, Stefano & Ramirez, Matias & Tidd, Joe, 2016. "Overcoming the false dichotomy between internal R&D and external knowledge acquisition: Absorptive capacity dynamics over time," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 57-65.
    66. Pontus Braunerhjelm & Zoltán J. Ács & David B. Audretsch & Bo Carlsson, 2015. "The missing link: knowledge diffusion and entrepreneurship in endogenous growth," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 6, pages 108-128, Edward Elgar Publishing.
    67. repec:hal:journl:hal-02313440 is not listed on IDEAS
    68. David Bruce Audretsch & Maksim Belitski & Rosa Caiazza, 2021. "Start-ups, Innovation and Knowledge Spillovers," The Journal of Technology Transfer, Springer, vol. 46(6), pages 1995-2016, December.
    69. Giovannetti, Emanuele & Piga, Claudio A., 2017. "The contrasting effects of active and passive cooperation on innovation and productivity: Evidence from British local innovation networks," International Journal of Production Economics, Elsevier, vol. 187(C), pages 102-112.
    70. Pontus Braunerhjelm & Ding Ding & Per Thulin, 2018. "The knowledge spillover theory of intrapreneurship," Small Business Economics, Springer, vol. 51(1), pages 1-30, June.
    Full references (including those not matched with items on IDEAS)

    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. Audretsch, David Bruce & Belitski, Maksim & Spadavecchia, Anna & Zahra, Shaker A., 2024. "The more, the merrier or the less is more? The role of firm capabilities and industry in the knowledge spillover of innovation," Technovation, Elsevier, vol. 138(C).
    2. Audretsch, David Bruce & Belitski, Maksim & Guerrero, Maribel, 2022. "The dynamic contribution of innovation ecosystems to schumpeterian firms: A multi-level analysis," Journal of Business Research, Elsevier, vol. 144(C), pages 975-986.
    3. David Bruce Audretsch & Maksim Belitski & Rosa Caiazza, 2021. "Start-ups, Innovation and Knowledge Spillovers," The Journal of Technology Transfer, Springer, vol. 46(6), pages 1995-2016, December.
    4. Audretsch, David B. & Belitski, Maksim, 2020. "The role of R&D and knowledge spillovers in innovation and productivity," European Economic Review, Elsevier, vol. 123(C).
    5. Maksim Belitski & Rosa Caiazza & Erik E. Lehmann, 2021. "Knowledge frontiers and boundaries in entrepreneurship research," Small Business Economics, Springer, vol. 56(2), pages 521-531, February.
    6. Colombelli, Alessandra & Belitski, Maksim & D’Amico, Elettra, 2023. "Artificial Intelligence and Firm Innovation: The Resource-Allocation Perspective," 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 202304, University of Turin.
    7. Audretsch, David B. & Belitski, Maksim, 2024. "Knowledge collaboration, firm productivity and innovation: A critical assessment," Journal of Business Research, Elsevier, vol. 172(C).
    8. David B. Audretsch & Maksim Belitski & Rosa Caiazza & Erik E. Lehmann, 2020. "Knowledge management and entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 16(2), pages 373-385, June.
    9. Erik E. Lehmann & Matthias Menter & Katharine Wirsching, 2022. "University spillovers, absorptive capacities, and firm performance," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 12(1), pages 125-150, March.
    10. David B Audretsch & Maksim Belitski, 2022. "The knowledge spillover of innovation [Resource and output trends in the United States since 1870]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(6), pages 1329-1357.
    11. Daniel Feser & Till Proeger, 2017. "Asymmetric information as a barrier to knowledge spillovers in expert markets," International Entrepreneurship and Management Journal, Springer, vol. 13(1), pages 211-232, March.
    12. Albert Link & Riikka Sarala, 2019. "Advancing Conceptualization of University Entrepreneurship Ecosystems: The Role of Knowledge-based Entrepreneurial Firms," UNCG Economics Working Papers 19-1, University of North Carolina at Greensboro, Department of Economics.
    13. Audretsch, B. David & Belitski, Maksim, 2023. "The limits to open innovation and its impact on innovation performance," Technovation, Elsevier, vol. 119(C).
    14. Natalya Radko & Maksim Belitski & Yelena Kalyuzhnova, 2023. "Conceptualising the entrepreneurial university: the stakeholder approach," The Journal of Technology Transfer, Springer, vol. 48(3), pages 955-1044, June.
    15. Audretsch, David B. & Lehmann, Erik E. & Menter, Matthias & Wirsching, Katharine, 2021. "Intrapreneurship and absorptive capacities: The dynamic effect of labor mobility," Technovation, Elsevier, vol. 99(C).
    16. Ferreira, João J.M. & Fernandes, Cristina I. & Veiga, Pedro Mota, 2024. "The effects of knowledge spillovers, digital capabilities, and innovation on firm performance: A moderated mediation model," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    17. Till Proeger, 2020. "Knowledge Spillovers and Absorptive Capacity—Institutional Evidence from the “German Mittelstand”," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(1), pages 211-238, March.
    18. Audretsch, David B. & Belitski, Maksim & Scarra, Deepa, 2024. "Intrapreneurship activity and access to finance in natural science: Evidence from the UK academic spinoffs," Technovation, Elsevier, vol. 129(C).
    19. Erik E. Lehmann & Julian Schenkenhofer & Silvio Vismara, 2026. "Hidden champions and knowledge spillovers: innovation-enhancing agglomeration effects and niche technology specificity," Small Business Economics, Springer, vol. 66(2), pages 827-847, February.
    20. David Audretsch & Rosa Caiazza, 2016. "Technology transfer and entrepreneurship: cross-national analysis," The Journal of Technology Transfer, Springer, vol. 41(6), pages 1247-1259, December.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    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:eee:respol:v:55:y:2026:i:1:s004873332500191x. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/respol .

    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.