The effect of science and technology parks on a firm’s performance: a dynamic approach over time
Isabel Diez-Vial () and
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Isabel Diez-Vial: University of Zaragoza
Marta Fernández-Olmos: University of Zaragoza
Journal of Evolutionary Economics, 2017, vol. 27, issue 3, 413-434
Abstract We argue that the benefits provided by locations inside science and technology parks evolve over time. Firms inside parks can improve performance due to certain advantages related to knowledge spillovers and shared resources that can be particularly useful in earlier stages of the industry life cycle. In these industries, local knowledge sharing is particularly useful because no standards are clearly established, as we have confirmed in a sample of 12,800 firms from the PITEC database, located either on- or off-park. We also find that young firms can benefit more from the park than more established businesses in terms of both business growth and innovative capacity. Although older firms have greater experience and investments that would increase their capacity to absorb external knowledge, their associated rigidities prevent them from incorporating changes into their structures.
Keywords: Geographical concentration; Age; Industry life-cycle; Growth; Innovation; Science and technology parks (search for similar items in EconPapers)
JEL-codes: E32 O18 R58 M13 (search for similar items in EconPapers)
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