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

Publikation: Working paperForskning

Resumé

External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.
External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.
SprogEngelsk
Udgivelses stedFrederiksberg
UdgiverDRUID - Danish Research Unit for Industrial Dynamics. CBS
Antal sider35
ISBN (Trykt)9788778733078
StatusUdgivet - 2010

Emneord

  • Research and Development
  • Social Capital
  • Liability of newness
  • Geography

Citer dette

Laursen, Keld ; Masciarelli, Francesca ; Reichstein, Toke. / A Matter of Location : The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities. Frederiksberg : DRUID - Danish Research Unit for Industrial Dynamics. CBS, 2010.
@techreport{3613c7175ba541bebc5487b604129c3d,
title = "A Matter of Location: The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities",
abstract = "External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.",
keywords = "Research and Development, Social Capital, Lianility of Newness, Geography, Research and Development, Social Capital, Liability of newness, Geography",
author = "Keld Laursen and Francesca Masciarelli and Toke Reichstein",
year = "2010",
language = "English",
isbn = "9788778733078",
publisher = "DRUID - Danish Research Unit for Industrial Dynamics. CBS",
type = "WorkingPaper",
institution = "DRUID - Danish Research Unit for Industrial Dynamics. CBS",

}

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.

Frederiksberg : DRUID - Danish Research Unit for Industrial Dynamics. CBS, 2010.

Publikation: Working paperForskning

TY - UNPB

T1 - A Matter of Location

T2 - The Role of Regional Social Capital in Overcoming the Liability of Newness in R&D Acquisition Activities

AU - Laursen,Keld

AU - Masciarelli,Francesca

AU - Reichstein,Toke

PY - 2010

Y1 - 2010

N2 - External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.

AB - External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.

KW - Research and Development

KW - Social Capital

KW - Lianility of Newness

KW - Geography

KW - Research and Development

KW - Social Capital

KW - Liability of newness

KW - Geography

M3 - Working paper

SN - 9788778733078

BT - A Matter of Location

PB - DRUID - Danish Research Unit for Industrial Dynamics. CBS

CY - Frederiksberg

ER -