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The dynamics of knowledge stocks and knowledge flows: innovation consequences of recruitment and collaboration in biotech

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  • Andreas Al-Laham
  • Daniel Tzabbar
  • Terry L. Amburgey

Abstract

To extend the knowledge-based view of the firm, we examine how managing the dynamic balance that a firm must undertake between applying knowledge stocks and accessing knowledge flows may determine innovativeness. We found that while the effect of scientist's recruitment and alliances as two sources of knowledge flow decay overtime, high degrees of human and social capital stock reduces the speed of new assets erosion. Failing to account for the interactions between knowledge stocks and flows, as well as the underlining causalities associated with each knowledge source, will result in an incomplete picture of the relationship between knowledge development efforts and innovative success. We test our assumptions on a longitudinal event history data set of the complete US biotech population of 857 firms founded during the period 1973--1999. Copyright 2011 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Suggested Citation

  • Andreas Al-Laham & Daniel Tzabbar & Terry L. Amburgey, 2011. "The dynamics of knowledge stocks and knowledge flows: innovation consequences of recruitment and collaboration in biotech," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 20(2), pages 555-583, April.
    • Handle: RePEc:oup:indcch:v:20:y:2011:i:2:p:555-583
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    File URL: http://hdl.handle.net/10.1093/icc/dtr001
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