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The effect of entrepreneurial origin on firms’ performance - The case of Portuguese academic spinoffs

Natália Barbosa () and Ana Paula Faria ()
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Natália Barbosa: School of Economics and Management, University of Minho
Ana Paula Faria: School of Economics and Management, University of Minho

No 95, GEE Papers from Gabinete de Estratégia e Estudos, Ministério da Economia

Abstract: We investigate the role of different entrepreneurial origin on firms’ performance by comparing academic spinoff firms with their non-academic counterparts and using alternative growth measures. Estimates based upon dynamic panel-data models reveal that academic spinoffs grow through resources accumulation and internationalization. However, comparatively to non- academic counterparts, they fail to translate these advantages into productivity gains. Also, despite younger academic spinoff outperform, in terms of sales growth, firms from different entrepreneurial origin, they fail to retain these scale effects, as they grow older. Portuguese academic spinoffs are contributing to economic development by creating new jobs, yet their relevance as a source of sustained economic value is limited so far. Policy implications are discussed in light of these findings.

Keywords: Academic Spinoff; firm growth; dynamic estimators (search for similar items in EconPapers)
JEL-codes: L21 L25 M13 H32 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2018-02, Revised 2018-02
New Economics Papers: this item is included in nep-cse, nep-eff, nep-ent, nep-eur and nep-sbm
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