Business networks and localization effects for new Swedish technology-based firms’ innovation performance
Hanna Rydehell (),
Anders Isaksson () and
Hans Löfsten ()
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Hanna Rydehell: Chalmers University of Technology
Anders Isaksson: Chalmers University of Technology
Hans Löfsten: Chalmers University of Technology
The Journal of Technology Transfer, 2019, vol. 44, issue 5, 1547-1576
Abstract This study examines the business networks and localization effects for new technology-based firms (NTBFs) in the context of innovation performance (the number of patents and product differentiation). In this regard, the study includes 28 variables. A survey was conducted in 2016 with 401 Swedish NTBFs that were small and young (the employment mean was 1.80 and the average age of each firm was 28.3 months). The biggest category of NTBFs was knowledge-intensive high-technology services, followed by medium high-technology manufacturing, and high-technology manufacturing. Hypotheses on how business networks and localization are related to innovation performance were tested using principal component analysis, correlation analysis, and regression analysis. The results show that the primary significant factor for innovation performance regarding business networks and localization dimensions are professional network services, while industrial and regional areas also have a positive relationship on product differentiation. Our study also shows that innovation performance enhances firms’ abilities to access external financing through professional network services (e.g., venture capital companies).
Keywords: Business network; Localization; Innovation performance; New technology-based firm; External financing; Entrepreneurship (search for similar items in EconPapers)
JEL-codes: L26 M13 O30 O32 (search for similar items in EconPapers)
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