EconPapers    
Economics at your fingertips  
 

Do locational spillovers pay? empirical evidence from German IPO data

David Audretsch () and Erik Lehmann ()

Economics of Innovation and New Technology, 2006, vol. 15, issue 1, 71-81

Abstract: This study examines the impact that locational spillovers have on firm performance. On the basis of a uniquely created data set consisting of high-technology start-ups publicly listed in Germany, this paper tests the proposition of locational spillovers positively affecting firm performance, as measured by abnormally high profits on the stock market. The results provide evidence that geographic proximity and university spillovers are complementary determinants of firm performance. Although neither geographic proximity nor academic research spillovers alone can explain firm performance, a combination of both factors results in significant higher stock market performance. The results also show that academic spillovers are heterogeneous in their impact, depending on the type. In particular, spillovers from social sciences have a different impact on firm performance than do spillovers from natural sciences.

Keywords: University spillover; Firm performance; University-firm collaboration (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10) Track citations by RSS feed

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/1043859042000332187 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Do Locational Spillovers Pay? Empirical Evidence from German IPO Data (2005) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:ecinnt:v:15:y:2006:i:1:p:71-81

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GEIN20

DOI: 10.1080/1043859042000332187

Access Statistics for this article

Economics of Innovation and New Technology is currently edited by Professor Cristiano Antonelli

More articles in Economics of Innovation and New Technology from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2023-11-30
Handle: RePEc:taf:ecinnt:v:15:y:2006:i:1:p:71-81