Regional entrepreneurship capital and firm production
José Massón-Guerra () and
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Pedro Ortín-Ángel: Universitat Autònoma de Barcelona
Authors registered in the RePEc Author Service: Pedro Ortín Ángel ()
Small Business Economics, 2017, vol. 49, issue 3, 595-607
Abstract Certain theories suggest that the capacity of a region to generate new firms, called entrepreneurship capital, has positive spillover effects on the production of the firms in that region. Evidence generated with aggregated data at the regional level supports this prediction. This paper argues that, using aggregated data at the regional level, entrepreneurship capital could be correlated with regional production even if entrepreneurship capital has no spillover effects on firm production. This will not be the case when data at the firm level are used. This paper provides evidence from a sample of 11,276 Spanish firms during the 2004–2012 period. Positive spillovers are estimated in between effects models, but such spillovers are only found in technological firms when within effects models have been estimated. Thus, the regional entrepreneurship capital spillovers are unclear when data at the firm level are used. Plausible interpretations and implications are discussed.
Keywords: Entrepreneurship capital; Regional growth; Production spillovers; Production function; Panel data; L26; D24; R11; O4 (search for similar items in EconPapers)
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