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

  • Audretsch, David B
  • Lehmann, Erik E

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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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5335.

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Date of creation: Nov 2005
Date of revision:
Handle: RePEc:cpr:ceprdp:5335
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  1. Benjamin E. Hermalin & Michael S. Weisbach, 1996. "Endogenously Chosen Boards of Directors and Their Monitoring of the CEO," Microeconomics 9602001, EconWPA, revised 09 Oct 1996.
  2. Acs, Zoltán J & Audretsch, David B & Braunerhjelm, Pontus & Carlsson, Bo, 2005. "The Knowledge Spillover Theory of Entrepreneurship," CEPR Discussion Papers 5326, C.E.P.R. Discussion Papers.
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  6. Rebecca Henderson & Iain Cockburn, . "Scale, Scope and Spillovers: The Determinants of Research Productivity in Drug Discovery," Working Papers ec25/94, Department of Economics, University of Lancaster.
  7. 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 630-40, June.
  8. Audretsch, David B & Stephan, Paula E, 1998. "How and Why Does Knowledge Spill Over? The Case of Biotechnology," CEPR Discussion Papers 1991, C.E.P.R. Discussion Papers.
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  12. Alvarez, Sharon A. & Barney, Jay B., 2004. "Organizing rent generation and appropriation: toward a theory of the entrepreneurial firm," Journal of Business Venturing, Elsevier, vol. 19(5), pages 621-635, September.
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  16. 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, 01.
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