This paper analyzes how different R&D strategies of incumbent firms affect the quantity and quality of their entrepreneurial spawning. When examining entrepreneurial ventures of ex-employees of firms with different R&D strategies, three things emerge: First, firms with persistent R&D investments...

In the wake of the 2008 financial crisis, there has been increased focus on access to finance for small firms. Research from before the crisis suggested that it was harder for innovative firms to access finance. Yet no research has considered the differential effect of the crisis on innovative...

The innovation value chain (IVC) divides the innovation process into three separate links or activities: knowledge gathering, knowledge transformation and knowledge exploitation. Here, we report a comparative panel data analysis of the IVC in Ireland and Switzerland. Both economies are small,...

Open labour markets are often seen as a precondition for innovation, particularly for new industries. However, this view ignores two core findings of the economic systems literature: first, that mobility patterns are institutional microsystems that need to be complementary to other institutions...

External finance is a central issue for innovative nascent ventures. In this study, we argue that innovative nascent ventures may use patents to signal appropriability and prototypes to signal feasibility to potential investors. Using new data on 906 nascent ventures, we find that nascent...