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Small Business Economics

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08.05.2020

The impact of the third sector of R&D on the innovative performance of entrepreneurial firms

verfasst von: Albert N. Link, Cody A. Morris, Martijn van Hasselt

Erschienen in: Small Business Economics | Ausgabe 3/2021

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Abstract

Entrepreneurial firms that rely on public research institutes, the third sector of R&D, are also firms that are more innovative in terms of introducing new or significantly improved goods or services to the market. This finding is based on an analysis of 4004 knowledge-intensive entrepreneurial (KIE) firms located in ten European Union countries. We interpret our findings as suggestive evidence of the importance of policymakers continuing to support financially public research institutions.

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To wit, Hallonsten (2017, p. 21) points out that there is a “shortfall of scholarly work devoted to the history, organization, and politics of [publicly funded R&D] research institutes ….” Hallonsten also offers a lucid discussion of three institute groups in Nordic countries, and he provides important institutional context for his and future studies of the third sector of R&D.

See also Audretsch and Link (2018b) who associate theoretically and empirically alternative sources of knowledge with dimensions of entrepreneurial behavior. See also Hodges and Link (2018) and Audretsch and Link (2018a).

Amoroso et al. (2018) also rely on the AEGIS dataset to study firm founders’ human capital covariates associated with firms’ use of alternative sources of knowledge.

An excellent review of the literature on KIE firms is in Malerba and McKelvey (2019). Audretsch and Link (2018b) offer a synopsis of definitions of KIE firms in the literature.

The AEGIS survey question is: “Did your firm introduce new or significantly improved goods or services during the past three years? (Exclude the simple resale of new products purchased from other enterprises and changes of solely aesthetic nature).” The response categories are yes (= 1) or no (= 0).

The AEGIS survey question is: “Please evaluate the importance of public research institutes as a source of knowledge for exploring new business opportunities on a 5-point scale, where 1 is not important and 5 is extremely important.” For the marginal effects from the analysis of Section 4, we also considered including indicator variables for each of the response categories. The results were quantitatively very similar, so we only present estimates using the binary-coded variable in this paper. Estimates using the ordinal scale are available from the authors upon request.

The AEGIS survey question is: “Are there other businesses offering the same products and/or services to your potential customers?” The three response categories are the following: (a) yes, many business competitors; (b) only a few business competitors; or (c) no other business competitors.

The AEGIS survey question is: “On average, what percentage of your sales has been spent on R&D during the last three years?”

Specifically, the marginal effect was calculated for each KIE firm. We then calculate the average marginal effect across the entire sample and calculate standard errors from the delta method.

Amoroso, S., Audretsch, D. B., & Link, A. N. (2018). Sources of knowledge used by entrepreneurial firms in the European high-tech sector. Eurasian Business Review, 8, 55–70.CrossRef

Audretsch, D. B., & Link, A. N. (2018a). Innovation capital. Journal of Technology Transfer, 43, 1760–1767.CrossRef

Audretsch, D. B., & Link, A. N. (2018b). Sources of knowledge and entrepreneurial behavior. Toronto: University of Toronto Press.CrossRef

Barge-Gil, A., & Modrego, A. (2011). The impact of research and technology organizations on firm competitiveness: measurement and determinants. Journal of Technology Transfer, 36, 61–83.CrossRef

Beise, M., & Stahl, H. (1999). Public research and industrial innovations in Germany. Research Policy, 28, 397–422.CrossRef

Caloghirou, Y., Protogerou, A., and Tsakanikas, A. (2011). Advancing knowledge-intensive entrepreneurship and innovation for economic growth and social well-being in Europe: final report summarizing survey methods and results. http://cordis.europa.eu/publication/rcn/16140_en.html. Accessed January 17, 2020.

Cohen, W. M. (2010). Fifty years of empirical studies of innovative activity and performance. In B. H. Hall & N. Rosenberg (Eds.), Handbook of the economics of innovation. Amsterdam: Elsevier.

Cohen, W. M., & Levinthal, D. A. (1989). Innovation and learning: the two faces of R&D. Economic Journal, 99, 569–596.CrossRef

Gifford, E. A. (2017). Exploring knowledge intensity in entrepreneurship. Gotherberg: Doctoral dissertation, the University of Gothenberg.

Gifford, E.A., Ljungberg, D., and Mckelvey, M. (2015). To what extent do external sources of knowledge affect the innovative performance of knowledge intensive entrepreneurial firms? The effects of depth and breadth of openness on manufacturing and service innovations, Paper presented at the DRUID Academy conference in Rome, Italy. Available at https://conference.druid.dk/Druid/. Accessed 8 Dec 2019

Hallonsten, O. (2017). The third sector of R&D: literature review, basic analysis, and research agenda. Prometheus, 35(1), 21–35.CrossRef

Hodges, N., & Link, A. N. (2018). Knowledge-intensive entrepreneurship: an analysis of the European textile and apparel industries. New York: Springer.CrossRef

Malerba, F., & McKelvey, M. (2019). Knowledge-intensive innovative entrepreneurship. Foundations and Trends in Entrepreneurship, 14, 555–681.CrossRef

Tether, B. S., & Tajar, A. (2008). Beyond industry-university links: sourcing knowledge for innovation from consultants, private research organizations and the public science-base. Research Policy, 37, 1079–1095.CrossRef

Wooldridge, J. M. (2010). Econometric analysis of cross section and panel data. Cambridge: MIT Press.

Titel: The impact of the third sector of R&D on the innovative performance of entrepreneurial firms
verfasst von: Albert N. Link
Cody A. Morris
Martijn van Hasselt
Publikationsdatum: 08.05.2020
Verlag: Springer US
Erschienen in: Small Business Economics / Ausgabe 3/2021
Print ISSN: 0921-898X
Elektronische ISSN: 1573-0913
DOI: https://doi.org/10.1007/s11187-020-00354-8

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