Large and small firms’ role in the knowledge-based industries innovation process

Jose Carlos Rodriguez

Revista Nicolaita de Estudios Económicos, 2007, vol. II, issue 1, 131-143

Abstract: This paper is an introduction to the discussion of the role played by knowledgebased large and small firms in the innovation process. It takes into account the theoretical background within the Schumpeterian-Penrosian tradition. The paper reviews a model where firm size has important implications for specific stages of the innovation process. An important conclusion in this work is that small firms are highly responsive when reacting to technological change. However, financial restrictions constitute an important impediment for innovation development in small firms. From this perspective, cooperation and alliances between large and small firms is an adequate response to the problems arising when knowledge-based firms innovate. The paper also presents some empirical results obtained from a survey on biotechnology-related industries conducted in Canada in 1999 as an empirical demonstration of this theoretical approach.

Keywords: Schumpeter-Penrose; innovation; technological change; firm size; biotechnology. (search for similar items in EconPapers)
JEL-codes: B30 L11 O32 O33 O39 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ris:rnicee:0031

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