Taking root in fertile ground: Community context and the agglomeration of hybrid companies

Michael V. Russo, Andrew G. Earle, Brooke A. Lahneman and Suzanne G. Tilleman

Journal of Business Venturing, 2022, vol. 37, issue 2

Abstract: Where do hybrid companies flourish and why? We draw on economic theories of agglomeration and sociocultural theories of community to examine the specific contexts in which hybrids flourish, and offer an understanding of why place matters to the unique business models they employ. We hypothesize that a community's collectivism, political orientation, and third sector munificence have distinct roles in promoting hybrid company agglomeration. We test these hypotheses with data drawn from a variety of sources, covering 260 U.S. Metropolitan Statistical Areas across 17 years. Our results indicate that both economic and sociocultural theories offer explanatory power, and their union more completely explains hybrid agglomeration. Additional analyses enrich our understanding of how this agglomeration unfolds over time.

Keywords: Hybrid companies; Regional entrepreneurship; Local communities; Agglomeration; Place-based enterprise (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbvent:v:37:y:2022:i:2:s088390262100094x

DOI: 10.1016/j.jbusvent.2021.106184

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