Knowledge combinations and the survival of financial services ventures

Karl Jonas Wennberg ()

No 2008:1, Working Paper Series in Business Administration from Stockholm School of Economics

Abstract: This paper investigates the role of knowledge in the evolution of new financial services ventures in Sweden between 1990 and 2002. Drawing upon economic theories of human capital and spin-out entrepreneurship, we investigate if knowledge from prior employment in the financial and technological industries facilitates the survival of new entrepreneurial firms. Based on a database tracking the evolution of 1,077 financial services ventures, we find that firms with more extensive knowledge from the financial services and high-tech sectors have higher chances of survival than firms with more narrow knowledge bases. Our findings offer contributions to the emerging literature on spin-out entrepreneurship and to research on entrepreneurship in services.

Keywords: Entrepreneurship; Spin-out; spin-off; Knowledge; Financial services; Survival analysis (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent, nep-ipr and nep-knm
Date: 2008-01-05

Forthcoming in Journal of evolutionary economics, 2009.

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Journal Article: Knowledge combinations and the survival of financial services ventures (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:hhb:hastba:2008_001

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