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Spinoffs or startups? The effects of spatial agglomeration

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  • Andrea Furlan
  • Giulio Cainelli

Abstract

Despite the fact that spinoffs and geographical clustering are highly intertwined phenomena, to date no study analyzes how spatial agglomerations forces might affect the emergence of spinoffs relative to other startups. Using a sample of 3456 Italian manufacturing new ventures founded in the period 2005–2007, we investigate the effects of different forms of agglomeration forces on the likelihood of a new venture emerging as a spinoff rather than a startup. Our results show that industry-specific localization economies (captured by industrial district dummy and the number of incumbents at local level) tend to increase the chances of a new venture to emerge as a spinoff. Moreover, local-related variety has a positive and significant effect on the likelihood of a new venture to emerge as a spinoff, especially for those spinoffs from successful parents.

Suggested Citation

  • Andrea Furlan & Giulio Cainelli, 2020. "Spinoffs or startups? The effects of spatial agglomeration," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(6), pages 1451-1470.
    • Handle: RePEc:oup:indcch:v:29:y:2020:i:6:p:1451-1470.
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    File URL: http://hdl.handle.net/10.1093/icc/dtaa022
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    More about this item

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation

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