Growth determinants in entrepreneurship: A longitudinal study of Spanish technology-based university spin-offs

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• 作者：María Jesús Rodríguez-Gulías…
• 关键词：Technology ; based firms ; University spin ; offs ; Sales growth ; Employment growth ; Propensity score matching ; Panel data ; Academic entrepreneurship ; International entrepreneurship
• 刊名：Journal of International Entrepreneurship
• 出版年：2016
• 出版时间：September 2016
• 年：2016
• 卷：14
• 期：3
• 页码：323-344
• 全文大小：460 KB
• 刊物主题：Entrepreneurship; Microeconomics; International Economics; Management/Business for Professionals;
• 出版者：Springer US
• ISSN：1573-7349
• 卷排序：14

文摘

The study explores whether the university origin of a technology-based firm conditions its growth in terms of both sales and employment. The small firm size of a significant percentage of technology-based university spin-offs (T-USOs) puts into question the policies geared towards promoting university entrepreneurship. A sample of 340 Spanish technology-based firms (219 T-USOs and 121 T-non-USOs) was constructed by using the non-parametric technique of propensity score matching and the data refer to the period 2001–2010. Applying panel data methodology, we find that the T-USOs outperform the T-non-USOs. Therefore, the need for support of university-based entrepreneurship by governments and by the universities is justified, because in this way, they are promoting economic growth and social development. By launching T-USOs, universities not only contribute to the economic growth but also to the internationalisation of the economy, as T-USOs show a more international orientation. In addition, the results lead us to emphasise the need to customise university policies aimed at promoting the growth of T-USOs. Given that the study is focused on a ‘moderate innovator’ country, the conclusions and proposals of this paper may be extrapolated to other countries with similar innovation and entrepreneurial ecosystems, namely the Mediterranean and Latin American countries.