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The Knowledge Spillover Theory of Entrepreneurship

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Author Info
Acs, Zoltán J
Audretsch, David B
Braunerhjelm, Pontus
Carlsson, Bo

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Abstract

Contemporary theories of entrepreneurship generally focus on the decision-making context of the individual. The recognition of opportunities and the decision to commercialize them is the focal concern. While the prevalent view in the entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature suggests that opportunities are endogenous. This paper bridges the gap between the entrepreneurship and economic literature on opportunity by developing a knowledge spillover theory of entrepreneurship. The basic argument is that knowledge created endogenously via R&D results in knowledge spillovers. Such spillovers give rise to opportunities to be identified and exploited by entrepreneurs. Our results show that there is a strong relationship between knowledge spillovers and new venture creation.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5326.

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Date of creation: Oct 2005
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Handle: RePEc:cpr:ceprdp:5326

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Related research
Keywords: entrepreneurship; knowledge; management science; opportunity;

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Find related papers by JEL classification:
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
O3 - Economic Development, Technological Change, and Growth - - Technological Change
R1 - Urban, Rural, and Regional Economics - - General Regional Economics

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Thurik, Roy, 2009. "Entrepreneurship, Economic Growth and Policy in Emerging Economies," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
    Other versions:
  2. Zoltan J. Acs & Mark Sanders, 2008. "Intellectual Property Rights and the Knowledge Spillover Theory of Entrepreneurship," Working Papers 08-23, Utrecht School of Economics. [Downloadable!]
    Other versions:
  3. Massón-Guerra, José Luis & Vendrell-Ferrero, Ferran, 2008. "Entrepreneurship Spillover and the determinants of Key Sectors for new business creation: An inter-sectorial approach," MPRA Paper 10748, University Library of Munich, Germany. [Downloadable!]
  4. Bo Carlsson & Zoltan J. Acs & David B. Audretsch & Pontus Braunerhjelm, 2007. "The Knowledge Filter, Entrepreneurship, and Economic Growth," Jena Economic Research Papers in Economics 2007-057, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics, Thueringer Universitaets- und Landesbibliothek. [Downloadable!]
    Other versions:
  5. Philipp Koellinger, 2008. "Why are some entrepreneurs more innovative than others?," Small Business Economics, Springer, vol. 31(1), pages 21-37, June. [Downloadable!] (restricted)
    Other versions:
  6. Zoltan J. Acs & José Ernesto Amorós, 2008. "Introduction: The startup process," Estudios de Economia, University of Chile, Department of Economics, vol. 35(2 Year 20), pages 121-132, December. [Downloadable!]
  7. Massón-Guerra, José Luis, 2008. "The Multipliers and Key Sectors of Entrepreneurship Spillover: An input-output approach," MPRA Paper 10733, University Library of Munich, Germany. [Downloadable!]
  8. Hugo Erken & Piet Donselaar & Roy Thurik, . "Total Factor Productivity and the Role of Entrepreneurship," Tinbergen Institute Discussion Papers 09-034/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  9. Andrew Copus & Dimitris Skuras & Kyriaki Tsegenidi, 2006. "Innovation and Peripherality: A Comparative Study in Six EU Member Countries," ERSA conference papers ersa06p295, European Regional Science Association. [Downloadable!]
  10. Zoltan Acs & Lawrence A. Plummer & Ryan Sutter, 2007. "Penetrating the Knowledge Filter in the Rust Belt," Jena Economic Research Papers in Economics 2007-058, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics, Thueringer Universitaets- und Landesbibliothek. [Downloadable!]
  11. Borgman, Benny & Braunerhjelm, Pontus, 2007. "Entrepreneurship and Local Growth - a comparison of the U.S. and Sweden," Working Paper Series in Economics and Institutions of Innovation 103, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies. [Downloadable!]
  12. Clercq, D. de & Hessels, S.J.A. & Stel, A.J. van, 2007. "Knowledge Spillovers and Entrepreneurs’ Export Orientation," Research Paper ERS-2007-038-ORG Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  13. Siri Terjesen & László Szerb, 2008. "Dice thrown from the beginning? An empirical investigation of determinants of firm level growth expectations," Estudios de Economia, University of Chile, Department of Economics, vol. 35(2 Year 20), pages 153-178, December. [Downloadable!]
  14. Squicciarini, Mariagrazia & Loikkanen, Torsti, 2008. "Going Global: The Challenges for Knowledge-based Economies," MPRA Paper 9663, University Library of Munich, Germany. [Downloadable!]
  15. Zoltan Acs & Laszlo Szerb, 2007. "Entrepreneurship, Economic Growth and Public Policy," Small Business Economics, Springer, vol. 28(2), pages 109-122, March. [Downloadable!] (restricted)
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