IDEAS home Printed from https://ideas.repec.org/a/spr/joevec/v27y2017i3d10.1007_s00191-016-0481-5.html
   My bibliography  Save this article

The effect of science and technology parks on a firm’s performance: a dynamic approach over time

Author

Listed:
  • Isabel Diez-Vial

    () (University of Zaragoza)

  • Marta Fernández-Olmos

    (University of Zaragoza)

Abstract

Abstract We argue that the benefits provided by locations inside science and technology parks evolve over time. Firms inside parks can improve performance due to certain advantages related to knowledge spillovers and shared resources that can be particularly useful in earlier stages of the industry life cycle. In these industries, local knowledge sharing is particularly useful because no standards are clearly established, as we have confirmed in a sample of 12,800 firms from the PITEC database, located either on- or off-park. We also find that young firms can benefit more from the park than more established businesses in terms of both business growth and innovative capacity. Although older firms have greater experience and investments that would increase their capacity to absorb external knowledge, their associated rigidities prevent them from incorporating changes into their structures.

Suggested Citation

  • Isabel Diez-Vial & Marta Fernández-Olmos, 2017. "The effect of science and technology parks on a firm’s performance: a dynamic approach over time," Journal of Evolutionary Economics, Springer, vol. 27(3), pages 413-434, July.
  • Handle: RePEc:spr:joevec:v:27:y:2017:i:3:d:10.1007_s00191-016-0481-5
    DOI: 10.1007/s00191-016-0481-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s00191-016-0481-5
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Westhead, P. & Storey, D. J., 1995. "Links between higher education institutions and high technology firms," Omega, Elsevier, vol. 23(4), pages 345-360, August.
    2. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    3. James G. March, 1991. "Exploration and Exploitation in Organizational Learning," Organization Science, INFORMS, vol. 2(1), pages 71-87, February.
    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. Richard Ferguson & Christer Olofsson, 2004. "Science Parks and the Development of NTBFs-- Location, Survival and Growth," The Journal of Technology Transfer, Springer, vol. 29(1), pages 5-17, January.
    6. Manuel Exposito-Langa & F. Xavier Molina-Morales & Josep Capo-Vicedo, 2011. "New Product Development and Absorptive Capacity in Industrial Districts: A Multidimensional Approach," Regional Studies, Taylor & Francis Journals, vol. 45(3), pages 319-331.
    7. Evans, David S, 1987. "Tests of Alternative Theories of Firm Growth," Journal of Political Economy, University of Chicago Press, vol. 95(4), pages 657-674, August.
    8. Brixy, Udo & Kohaut, Susanne, 1999. "Employment Growth Determinants in New Firms in Eastern Germany," Small Business Economics, Springer, vol. 13(2), pages 155-170, September.
    9. Michelle Gittelman, 2007. "Does Geography Matter for Science-Based Firms? Epistemic Communities and the Geography of Research and Patenting in Biotechnology," Organization Science, INFORMS, vol. 18(4), pages 724-741, August.
    10. Filatotchev, Igor & Liu, Xiaohui & Lu, Jiangyong & Wright, Mike, 2011. "Knowledge spillovers through human mobility across national borders: Evidence from Zhongguancun Science Park in China," Research Policy, Elsevier, vol. 40(3), pages 453-462, April.
    11. McCann, Brian T. & Folta, Timothy B., 2011. "Performance differentials within geographic clusters," Journal of Business Venturing, Elsevier, vol. 26(1), pages 104-123, January.
    12. Pierre-Alexandre Balland & Mathijs De Vaan & Ron Boschma, 2013. "The dynamics of interfirm networks along the industry life cycle: The case of the global video game industry, 1987--2007," Journal of Economic Geography, Oxford University Press, vol. 13(5), pages 741-765, September.
    13. Ángela Vásquez-Urriago & Andrés Barge-Gil & Aurelia Rico & Evita Paraskevopoulou, 2014. "The impact of science and technology parks on firms’ product innovation: empirical evidence from Spain," Journal of Evolutionary Economics, Springer, vol. 24(4), pages 835-873, September.
    14. Nathalie Lazaric & Christian Longhi & Catherine Thomas, 2008. "Gatekeepers of Knowledge versus Platforms of Knowledge: From Potential to Realized Absorptive Capacity," Regional Studies, Taylor & Francis Journals, vol. 42(6), pages 837-852.
    15. Stewart Thornhill & Raphael Amit, 2003. "Learning About Failure: Bankruptcy, Firm Age, and the Resource-Based View," Organization Science, INFORMS, vol. 14(5), pages 497-509, October.
    16. Schutjens, Veronique & Stam, Erik, 2003. "The Evolution and Nature of Young Firm Networks: A Longitudinal Perspective," Small Business Economics, Springer, vol. 21(2), pages 115-134, September.
    17. Zucker, Lynne G & Darby, Michael R & Armstrong, Jeff, 1998. "Geographically Localized Knowledge: Spillovers or Markets?," Economic Inquiry, Western Economic Association International, vol. 36(1), pages 65-86, January.
    18. Mian, Sarfraz A., 1996. "Assessing value-added contributions of university technology business incubators to tenant firms," Research Policy, Elsevier, vol. 25(3), pages 325-335, May.
    19. Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March.
    20. Fukugawa, Nobuya, 2006. "Science parks in Japan and their value-added contributions to new technology-based firms," International Journal of Industrial Organization, Elsevier, vol. 24(2), pages 381-400, March.
    21. Chih-Hai Yang & Ku-Hsieh Chen, 2009. "Are small firms less efficient?," Small Business Economics, Springer, vol. 32(4), pages 375-395, April.
    22. Paul Almeida & Bruce Kogut, 1999. "Localization of Knowledge and the Mobility of Engineers in Regional Networks," Management Science, INFORMS, vol. 45(7), pages 905-917, July.
    23. Phillip Phan & Donald S. Siegel & Mike Wright, 2016. "Science Parks and Incubators: Observations, Synthesis and Future Research," World Scientific Book Chapters,in: TECHNOLOGY ENTREPRENEURSHIP AND BUSINESS INCUBATION Theory • Practice • Lessons Learned, chapter 9, pages 249-272 World Scientific Publishing Co. Pte. Ltd..
    24. Colombo, Massimo G. & Delmastro, Marco, 2002. "How effective are technology incubators?: Evidence from Italy," Research Policy, Elsevier, vol. 31(7), pages 1103-1122, September.
    25. Bos, Jaap W.B. & Economidou, Claire & Sanders, Mark W.J.L., 2013. "Innovation over the industry life-cycle: Evidence from EU manufacturing," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 78-91.
    26. Alessia Sammarra & Lucio Biggiero, 2008. "Heterogeneity and Specificity of Inter-Firm Knowledge Flows in Innovation Networks," Journal of Management Studies, Wiley Blackwell, vol. 45(4), pages 800-829, June.
    27. Eisingerich, Andreas B. & Bell, Simon J. & Tracey, Paul, 2010. "How can clusters sustain performance? The role of network strength, network openness, and environmental uncertainty," Research Policy, Elsevier, vol. 39(2), pages 239-253, March.
    28. 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.
    29. Audretsch, David B, 1998. "Agglomeration and the Location of Innovative Activity," Oxford Review of Economic Policy, Oxford University Press, vol. 14(2), pages 18-29, Summer.
    30. Matthew S. Kraatz & Edward J. Zajac, 2001. "How Organizational Resources Affect Strategic Change and Performance in Turbulent Environments: Theory and Evidence," Organization Science, INFORMS, vol. 12(5), pages 632-657, October.
    31. Anne Ter Wal & Ron Boschma, 2009. "Applying social network analysis in economic geography: framing some key analytic issues," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 43(3), pages 739-756, September.
    32. Jason Owen-Smith & Walter W. Powell, 2004. "Knowledge Networks as Channels and Conduits: The Effects of Spillovers in the Boston Biotechnology Community," Organization Science, INFORMS, vol. 15(1), pages 5-21, February.
    33. Paul Westhead & Stephen Batstone, 1998. "Independent Technology-based Firms: The Perceived Benefits of a Science Park Location," Urban Studies, Urban Studies Journal Limited, vol. 35(12), pages 2197-2219, December.
    34. Daniel Z. Levin & Rob Cross, 2004. "The Strength of Weak Ties You Can Trust: The Mediating Role of Trust in Effective Knowledge Transfer," Management Science, INFORMS, vol. 50(11), pages 1477-1490, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Geographical concentration; Age; Industry life-cycle; Growth; Innovation; Science and technology parks;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

    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:spr:joevec:v:27:y:2017:i:3:d:10.1007_s00191-016-0481-5. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    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 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.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.