Job machine, think tank, or both : what makes corporate spinoffs different?


Fryges, Helmut ; Müller, Bettina ; Niefert, Michaela


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URL: https://ub-madoc.bib.uni-mannheim.de/35247
URN: urn:nbn:de:bsz:180-madoc-352477
Document Type: Working paper
Year of publication: 2013
The title of a journal, publication series: ZEW Discussion Papers
Volume: 13-093
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: L26 , L25 , O31 , C21,
Keywords (English): Knowledge and technology transfer , corporate spinoffs , propensity score matching , KfW/ZEW Start-Up Panel
Abstract: One way through which knowledge and technology transfer can take place is through the foundation of new firms by former employees of incumbent private firms. In this paper, we examine whether knowledge transferred from the incumbent causally affect employment growth and postentry innovation activities of the new firm. We focus on start-ups for which a new idea (a new product, technology, production process or management concept), which the founder developed during her work as an employee, was essential for setting up the new business. These firms are denoted corporate spinoffs. Using data from German start-ups founded in the period from 2005 to 2008, we apply nearest neighbour propensity score matching. We find that corporate spinoffs outperform other start-ups founded by former employees of incumbent private firms that are not based on an essential idea in terms of post-entry innovation activities. However, we cannot show that corporate spinoffs benefit from the transferred idea in terms of employment growth. We conclude that a transferred idea is primarily an input factor and a stimulus for subsequent post-entry innovation activities of corporate spinoffs.

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Fryges, Helmut ; Müller, Bettina ; Niefert, Michaela (2013) Job machine, think tank, or both : what makes corporate spinoffs different? Open Access ZEW Discussion Papers Mannheim 13-093 [Working paper]
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