R&D strategies and entrepreneurial spawning |
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Authors: | Martin Andersson Apostolos Baltzopoulos |
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Institution: | a Centre of Excellence for Science and Innovation Studies (CESIS), Royal Institute of Technology (KTH), Stockholm, Sweden b Jönköping International Business School (JIBS), Jönköping, Sweden c Nordregio, Nordic Centre for Spatial Development, Stockholm, Sweden d Industrial Economics and Management, Royal Institute of Technology (KTH), Stockholm, Sweden |
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Abstract: | This paper analyzes how different R&D strategies of incumbent firms affect the quantity and quality of their entrepreneurial spawning. When examining entrepreneurial ventures of ex-employees of firms with different R&D strategies, three things emerge: First, firms with persistent R&D investments and a general superiority in sales, exports, productivity, profitability and wages are less likely to generate entrepreneurs than firms with temporary or no R&D investments. Second, start-ups from knowledge intensive business service (KIBS) firms with persistent R&D investments have a significantly increased probability of survival. No corresponding association between the R&D strategies of incumbents and survival of entrepreneurial spawns is found for incumbents in manufacturing sectors. Third, spin-outs from KIBS-firms are more likely to survive if they start in the same sector, indicating the importance of inherited knowledge. These findings suggest that R&D intensive firms are less likely to generate employee start-ups, but their entrepreneurial spawns tend to be of higher quality. |
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Keywords: | J24 L26 M13 O31 O32 |
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