The Local Innovation Spillovers of Listed Firms

Adrien Matray
Additional contact information
Adrien Matray: Princeton University

Working Papers from Princeton University. Economics Department.

Abstract: This paper provides evidence of local innovation spillovers, i.e. innovation by one firm fostering innovation by neighboring firms. First, I document that exogenous shocks to innovation by listed firms affect innovation by private firms in the same geographical area. I also find that such local innovation spillovers decline rapidly with distance. Second, I find that local innovation spillovers stem at least in part from knowledge diffusing locally through two channels: learning across local firms and inventors moving from their employer to both existing firms and newly started spin-outs. Finally, I study the two-way relationship between innovation spillovers and the availability of capital. I find that local innovation spillovers lead venture capital funds from outside the area to invest more in the local area, and that conversely capital availability amplifies local innovation spillovers.

Keywords: Capital; Firm; Firms; Innovation; Venture Capital (search for similar items in EconPapers)
JEL-codes: K41 L24 O31 O34 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.adrienmatray.com/uploads/1/2/5/1/12517 ... ted_firms_round2.pdf
Our link check indicates that this URL is bad, the error code is: 404 Not Found (https://www.adrienmatray.com/uploads/1/2/5/1/125176898/spillover_listed_firms_round2.pdf [301 Moved Permanently]--> https://adrienmatray.com/uploads/1/2/5/1/125176898/spillover_listed_firms_round2.pdf)

Related works:
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:pri:econom:2017-7

Access Statistics for this paper

More papers in Working Papers from Princeton University. Economics Department. Contact information at EDIRC.
Bibliographic data for series maintained by Bobray Bordelon ().