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Entrepreneurial Access and Absorption of Knowledge Spillovers: Strategic Board and Managerial Composition for Competitive Advantage

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  • Audretsch, David B
  • Lehmann, Erik E

Abstract

The resource theory of the firm implies that knowledge is a key resource bestowing a competitive advantage for entrepreneurial firms. However, it remains rather unclear up to now, how new ventures and small business can access knowledge resources. The purpose of this paper is to suggest two strategies in particular that facilitate entrepreneurial access to and absorption of external knowledge spillovers: the attraction of managers and directors with an academic background. Based on data on board composition of 295 high technology firms, the results clearly demonstrate the strong link between geographical proximity to research intense universities and board composition.

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  • Audretsch, David B & Lehmann, Erik E, 2005. "Entrepreneurial Access and Absorption of Knowledge Spillovers: Strategic Board and Managerial Composition for Competitive Advantage," CEPR Discussion Papers 5335, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:5335
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    References listed on IDEAS

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    1. Rebecca Henderson & Iain Cockburn, 1996. "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 32-59, Spring.
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    4. David B. audretsch & Erik E. Lehmann, 2005. "Mansfield's Missing Link: The Impact of Knowledge Spillovers on Firm Growth," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 207-210, January.
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    Cited by:

    1. Yannick Bammens & Wim Voordeckers & Anita Gils, 2008. "Boards of directors in family firms: a generational perspective," Small Business Economics, Springer, vol. 31(2), pages 163-180, August.
    2. Jackie Krafft & Yiping Qu & Jacques-Laurent Ravix, 2011. "Gouvernance d'entreprise et performances sectorielles : une réévaluation de la fiabilité des scores et des mesures de bonne gouvernance," Economie & Prévision, La Documentation Française, vol. 0(1), pages 145-158.
    3. Hugo Priemus, 2011. "URBAN DUTCH: Synergy Between Transport Infrastructures and Cities. Towards a Higher Productivity of the Economy," ERSA conference papers ersa11p1267, European Regional Science Association.
    4. Jackie Krafft & Jacques-Laurent Ravix, 2009. "The Governance of the Knowledge-Intensive Firm in an Industry Life Cycle Approach," Chapters,in: Corporate Governance, Organization and the Firm, chapter 3 Edward Elgar Publishing.
    5. Jackie Krafft & Yiping Qu & Jacques-Laurent Ravix, 2008. "Corporate governance, industry dynamics and firms performance on the stock market," Post-Print hal-00203544, HAL.
    6. Massimo Colombo & Diego D’Adda & Evila Piva, 2010. "The contribution of university research to the growth of academic start-ups: an empirical analysis," The Journal of Technology Transfer, Springer, vol. 35(1), pages 113-140, February.

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    Keywords

    board composition; corporate governance; entrepreneurship; university spillover;

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