A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities

Keld Laursen, Francesca Masciarelli, Toke Reichstein

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Resumé

External knowledge acquisition is a precondition for firms’ competitive advantage. However, young firms exhibit a lower propensity to acquire external research and development (R&D) than their older counterparts. The paper explores the role of regional social capital in moderating this aspect of the liability of newness. The results show that young firms operating in regions with low levels of social capital are less likely to acquire R&D externally. However, this is not the case in regions with high levels of social capital, suggesting that the liability of newness in terms of acquisition of external R&D does not play a role in these regions.
External knowledge acquisition is a precondition for firms’ competitive advantage. However, young firms exhibit a lower propensity to acquire external research and development (R&D) than their older counterparts. The paper explores the role of regional social capital in moderating this aspect of the liability of newness. The results show that young firms operating in regions with low levels of social capital are less likely to acquire R&D externally. However, this is not the case in regions with high levels of social capital, suggesting that the liability of newness in terms of acquisition of external R&D does not play a role in these regions.
SprogEngelsk
TidsskriftRegional Studies
Vol/bind50
Udgave nummer9
Sider1537-1550
ISSN0034-3404
DOI
StatusUdgivet - 2016

Emneord

  • Research and development
  • Social capital
  • Liability of newness
  • Geography

Citer dette

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A Matter of Location : The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities. / Laursen, Keld; Masciarelli, Francesca; Reichstein, Toke.

I: Regional Studies, Bind 50, Nr. 9, 2016, s. 1537-1550.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

TY - JOUR

T1 - A Matter of Location

T2 - Regional Studies

AU - Laursen,Keld

AU - Masciarelli,Francesca

AU - Reichstein,Toke

PY - 2016

Y1 - 2016

N2 - External knowledge acquisition is a precondition for firms’ competitive advantage. However, young firms exhibit a lower propensity to acquire external research and development (R&D) than their older counterparts. The paper explores the role of regional social capital in moderating this aspect of the liability of newness. The results show that young firms operating in regions with low levels of social capital are less likely to acquire R&D externally. However, this is not the case in regions with high levels of social capital, suggesting that the liability of newness in terms of acquisition of external R&D does not play a role in these regions.

AB - External knowledge acquisition is a precondition for firms’ competitive advantage. However, young firms exhibit a lower propensity to acquire external research and development (R&D) than their older counterparts. The paper explores the role of regional social capital in moderating this aspect of the liability of newness. The results show that young firms operating in regions with low levels of social capital are less likely to acquire R&D externally. However, this is not the case in regions with high levels of social capital, suggesting that the liability of newness in terms of acquisition of external R&D does not play a role in these regions.

KW - Research and development

KW - Social capital

KW - Liability of newness

KW - Geography

KW - Research and development

KW - Social capital

KW - Liability of newness

KW - Geography

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