Science and industry evolution: evidence from the first 50 years of the German laser industry

Guido Buenstorf and Dominik P. Heinisch ()
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Dominik P. Heinisch: INCHER

Small Business Economics, 2020, vol. 54, issue 2, No 10, 523-538

Abstract: Abstract Industry evolution is driven by innovation. Scientific research is an important source of innovation-relevant knowledge. To trace its impact on industry evolution, we follow the entry and exit of firms from various backgrounds over the first five decades of the German laser industry. We find that academic startups became increasingly competitive after substantial changes were introduced to the governance of university-industry relationships. Their enhanced performance helps explain why no shakeout in firm numbers has been observed to date. Doctorate-holding inventors contributed to the performance of entrants, indicating that the impact of scientific knowledge on industry evolution goes beyond academic entrepreneurship.

Keywords: Industry evolution; Scientific knowledge; Academic entrepreneurship; Doctoral training; Laser (search for similar items in EconPapers)
JEL-codes: I23 L10 L26 O33 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s11187-018-0032-6

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