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Growth determinants in entrepreneurship: A longitudinal study of Spanish technology-based university spin-offs

Author

Listed:
  • María Jesús Rodríguez-Gulías

    (Universidade da Coruña)

  • Sara Fernández-López

    (Universidade de Santiago de Compostela)

  • David Rodeiro-Pazos

    (Universidade de Santiago de Compostela)

Abstract

The study explores whether the university origin of a technology-based firm conditions its growth in terms of both sales and employment. The small firm size of a significant percentage of technology-based university spin-offs (T-USOs) puts into question the policies geared towards promoting university entrepreneurship. A sample of 340 Spanish technology-based firms (219 T-USOs and 121 T-non-USOs) was constructed by using the non-parametric technique of propensity score matching and the data refer to the period 2001–2010. Applying panel data methodology, we find that the T-USOs outperform the T-non-USOs. Therefore, the need for support of university-based entrepreneurship by governments and by the universities is justified, because in this way, they are promoting economic growth and social development. By launching T-USOs, universities not only contribute to the economic growth but also to the internationalisation of the economy, as T-USOs show a more international orientation. In addition, the results lead us to emphasise the need to customise university policies aimed at promoting the growth of T-USOs. Given that the study is focused on a ‘moderate innovator’ country, the conclusions and proposals of this paper may be extrapolated to other countries with similar innovation and entrepreneurial ecosystems, namely the Mediterranean and Latin American countries.

Suggested Citation

  • María Jesús Rodríguez-Gulías & Sara Fernández-López & David Rodeiro-Pazos, 2016. "Growth determinants in entrepreneurship: A longitudinal study of Spanish technology-based university spin-offs," Journal of International Entrepreneurship, Springer, vol. 14(3), pages 323-344, September.
    • Handle: RePEc:kap:jinten:v:14:y:2016:i:3:d:10.1007_s10843-016-0185-9
    DOI: 10.1007/s10843-016-0185-9
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    References listed on IDEAS

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    Cited by:

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    2. Maribel Guerrero & Francisco Liñán & F. Rafael Cáceres-Carrasco, 2021. "The influence of ecosystems on the entrepreneurship process: a comparison across developed and developing economies," Small Business Economics, Springer, vol. 57(4), pages 1733-1759, December.
    3. Bahuleyan, Athira & Chavan, Meena & Krzeminska, Anna & Chirico, Francesco, 2024. "Process and variance research: Integrating research on university spinoff evolution," Technovation, Elsevier, vol. 130(C).
    4. F. I. Vega-Gómez & F. J. Miranda González & J. Pérez-Mayo, 2020. "Analyzing the Effects of Institutional- and Ecosystem-Level Variables on University Spin-Off Performance," SAGE Open, , vol. 10(2), pages 21582440209, June.
    5. Stefan Marc Hossinger & Xiangyu Chen & Arndt Werner, 2020. "Drivers, barriers and success factors of academic spin-offs: a systematic literature review," Management Review Quarterly, Springer, vol. 70(1), pages 97-134, February.
    6. Guillermo Andrés ZAPATA HUAMANÍ & Sara FERNÁNDEZ LÓPEZ & Isabel NEIRA GÓMEZ & Lucía REY ARES, 2017. "THE ROLE OF THE ENTREPRENEUR IN NEW TECHNOLOGY-BASED FIRMS (NTBFs): AN ANALYSIS ACCORDING TO CONTEXT DEVELOPMENT," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 17(2), pages 25-42.
    7. Ivano De Turi & Antonello Garzoni, 2018. "The Impact of the External Environment on the Growth of the Italian Academic Spin-Offs: A Cross-Sectional Analysis," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(8), pages 1-16, June.
    8. Julie Vardhan & Madhuri Mahato, 2022. "Business Incubation Centres in Universities and Their Role in Developing Entrepreneurial Ecosystem," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 8(1), pages 143-157, January.
    9. Ivano De Turi & Margaret Antonicelli, 2019. "Can the External Environment Generate Better Economic Performance in Academic Spin-Offs?," International Business Research, Canadian Center of Science and Education, vol. 12(11), pages 30-37, November.

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    More about this item

    Keywords

    Technology-based firms; University spin-offs; Sales growth; Employment growth; Propensity score matching; Panel data; Academic entrepreneurship; International entrepreneurship;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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