entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature … 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 …

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge … and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does … not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant …

effect of the composition of economic activity on innovation. We test whether the specialization of economic activity within … a narrow concentrated set of economic activities is more conducive to knowledge spillovers or if diversity, by bringing … together complementary activities, better promotes innovation. The evidence provides considerable support for the diversity …

the value of their potential innovation in industries characterized by a greater degree of knowledge asymmetries. Based on …The decision of how best to appropriate the value of new economic knowledge is reached by individuals within the … economic knowledge is not only imperfect but also inherently asymmetric across agents, a divergence in beliefs about its …

routinized phase where innovation takes place within top-performing incumbents; (3) a second entrepreneurial phase characterized … routinization, in which no further innovation takes place, but is instead a phase of structural change. Using data on 74 West German …

industry life cycle. The theory of knowledge spillovers, based on the knowledge production function for innovative activity …, suggests that geographic proximity matters most in industries where tacit knowledge plays an important role in the generation … of innovative activity. According to the emerging literature on the industry life cycle, tacit knowledge plays the most …

least as innovative as their larger counterparts poses something of a paradox. Where do small firms get their knowledge … identification of the extent to which spillovers exist between major sources generating new knowledge, such as the R&D laboratories … more important for small-firm innovation than for their larger counterparts. …

innovation to the financiers through patenting and prototyping activities, right in the early stages of the venture. We build a …

international competitiveness - to a lack of innovative activity. In Germany the Innovationskrise (innovation crisis) combines with …