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

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Díez Vial, Isabel and Fernández Olmos, Marta (2017) The effect of science and technology parks on a firm’s performance: a dynamic approach over time. Journal of Evolutionary Economics, 27 (3). pp. 413-434. ISSN 1432-1386

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Official URL: http://dx.doi.org/10.1007/s00191-016-0481-5



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.


Item Type:Article
Uncontrolled Keywords:Geographical concentration; Age; Industrylife-cycle; Growth; Innovation; Science and technology parks.
Subjects:Social sciences > Economics > Economic development
Social sciences > Economics > Money
Social sciences > Economics > Regional economics
Social sciences > Economics > Business enterprises
JEL:E32, O18, R58, M13
ID Code:57406
Deposited On:17 Oct 2019 11:37
Last Modified:18 Oct 2019 07:45

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