Advertisement

The Journal of Technology Transfer

, Volume 44, Issue 1, pp 21–48 | Cite as

Do firms located in science and technology parks enhance innovation performance? The effect of absorptive capacity

  • Fernando Ubeda
  • Marta Ortiz-de-Urbina-Criado
  • Eva-María Mora-ValentínEmail author
Article
  • 197 Downloads

Abstract

This paper shows that the effect of location in science and technology parks is not homogeneous for all firms. The proposed model contemplates a non-linear relationship between belonging to a science and technology park and innovation performance, considering the firm’s absorptive capacity as a moderating variable. A panel dataset of firms located both in and off a park is created, and three main effects are identified. Pre-catching up firms have a low absorptive capacity, and their location in a science and technology park does not improve their innovation performance. Catching up firms have a medium absorptive capacity and constitute the group that can be observed to benefit more by their presence in a science and technology park. Additionally, pre-frontier sharing firms has a high absorptive capacity; however, knowledge duplicity reduces the impact of science and technology parks on their innovation performance. Findings arise practical implications for governments (how to assign public resources to parks?), managers of parks (how to select to the firms of a park?) and managers who need to decide about the convenience of locating their companies on a park (when my company is interested in locating in a park?).

Keywords

Science park Technology park Innovation performance Absorptive capacity Non-linear relationship 

JEL Classification

M15 O32 O39 

Notes

Funding

This work was supported by the Spanish Ministry of Economy and Competitiveness of Spain (ECO2015-67434-R and ECO2017-85356-P) and for the Regional Government of Madrid and European Social Fund (EARLYFIN, S2015/HUM-3353).

References

  1. Albahari, A., Pérez-Canto, S., Barge-Gil, A., & Modrego, A. (2017). Technology parks versus science parks: Does the university make the difference? Technological Forecasting and Social Change, 116, 13–28.  https://doi.org/10.1016/j.techfore.2016.11.012.Google Scholar
  2. Albahari, A., Pérez-Canto, S., & Landoni, P. (2010). Science and Technology Parks impacts on tenant organizations: A review of literature. MPRA Paper No. 41914, posted 14. https://mpra.ub.uni-muenchen.de/41914/.
  3. Bakouros, Y. L., Mardas, D. C., & Varsakelis, N. C. (2002). Science park, a high tech fantasy? An analysis of the science parks of Greece. Technovation, 22(2), 123–128.  https://doi.org/10.1016/S0166-4972(00)00087-0.Google Scholar
  4. Bascle, G. (2008). Controlling for endogeneity with instrumental variables in strategic management research. Strategic Organization, 6(3), 285–327.  https://doi.org/10.1177/1476127008094339.Google Scholar
  5. Belsley, D. A. (1991). A guide to using the collinearity diagnostics. Computational Economics, 4(1), 33–50.  https://doi.org/10.1007/BF00426854.Google Scholar
  6. Cameron, A. C., & Trivedi, P. K. (2005). Microeconometrics: Methods and applications. New York: Cambridge University Press.Google Scholar
  7. Cameron, A. C., & Trivedi, P. K. (2009). Microeconometrics using stata. College Station, TX: Stata Press.Google Scholar
  8. Castells, M., & Hall, P. (1994). Technopolos of the world. The making of twenty-first-century industrial complexes. London: Routledge.Google Scholar
  9. Cepeda-Carrión, G., Cegarra-Navarro, J. G., & Jiménez-Jiménez, D. (2012). The effect of absorptive capacity on innovativeness: Context and information systems capability as catalysts. British Journal of Management, 23(1), 110–129.  https://doi.org/10.1111/j.1467-8551.2010.00725.x.Google Scholar
  10. Chan, K. Y. A., Oerlemans, L. A. G., & Pretorius, M. W. (2011). Innovation outcomes of South African new technology-based firms: A contribution to the debate on the performance of science park firms. South African Journal of Economic and Management Sciences, 14(4), 361–378.Google Scholar
  11. Chan, K. Y. A., & Pretorius, M. W. (2007). Networking, absorptive capacity, science parks: A proposed conceptual model for firm innovative performance. In Industrial engineering and engineering management, 2007 IEEE international conference (pp. 1925–1929). http://dx.doi.org/10.1109/IEEM.2007.4419527.
  12. Chang, D. R., & Chob, H. (2008). Organizational memory influences new product success. Journal of Business Research, 61(1), 13–23.  https://doi.org/10.1016/j.jbusres.2006.05.005.Google Scholar
  13. Chen, Y. S., Qiao, S., & Lee, A. H. I. (2014). The impacts of different R&D organizational structures on performance of firms: Perspective of absorptive capacity. The Journal of High Technology Management Research, 25(1), 83–95.  https://doi.org/10.1016/j.hitech.2013.12.007.Google Scholar
  14. Chen, J., Reilly, R. R., & Lynn, G. S. (2012). New product development speed: Too much of a good thing? Journal of Product Innovation Management, 29(2), 288–303.  https://doi.org/10.1111/j.1540-5885.2011.00896.x.Google Scholar
  15. Cohen, W. M., & Levinthal, D. A. (1989). Innovation and learning: The two faces of R&D. The Economic Journal, 99(397), 569–596.  https://doi.org/10.2307/2233763.Google Scholar
  16. Collinson, S. C., & Wang, R. (2012). The evolution of innovation capability in multinational enterprise subsidiaries: Dual network embeddedness and the divergence of subsidiary specialisation in Taiwan. Research Policy, 41(9), 1501–1518.  https://doi.org/10.1016/j.respol.2012.05.007.Google Scholar
  17. Colombo, M., & Delmastro, M. (2002). How effective are technology incubators? Evidence from Italy. Research Policy, 31(7), 1103–1122.  https://doi.org/10.1016/S0048-7333(01)00178-0.Google Scholar
  18. Damanpour, F. (1991). Organizational innovation: A meta-analysis of effects of determinants and moderators. Academy of Management Journal, 34(3), 555–590.  https://doi.org/10.2307/256406.Google Scholar
  19. Dettwiler, P., Lindelöf, P., & Löfsten, H. (2006). Business environment and property management issues - a study of growth firms in Sweden. Journal of Corporate Real Estate, 8(3), 120–133.  https://doi.org/10.1108/14630010610711748.Google Scholar
  20. Díez-Vial, I., & Fernández-Olmos, M. (2015). Knowledge spillovers in science and technology parks: How can firms benefit most? The Journal of Technology Transfer, 40(1), 70–84.  https://doi.org/10.1007/s10961-013-9329-4.Google Scholar
  21. Díez-Vial, I., & Fernández-Olmos, M. (2017a). The effect of science and technology parks on a firm’s performance: A dynamic approach over time. Journal of Evolutionary Economics, 27(3), 413–434.  https://doi.org/10.1007/s00191-016-0481-5.Google Scholar
  22. Díez-Vial, I., & Fernández-Olmos, M. (2017b). The effect of science and technology parks on firms’ performance: How can firms benefit most under economic downturns? Technology Analysis & Strategic Management, 29(10), 1153–1166.  https://doi.org/10.1080/09537325.2016.1274390.Google Scholar
  23. Díez-Vial, I., & Montoro-Sánchez, A. (2016). How knowledge links with universities may foster innovation: The case of a science park. Technovation, 50–51, 41–52.  https://doi.org/10.1016/j.technovation.2015.09.001.Google Scholar
  24. Díez-Vial, I., & Montoro-Sánchez, A. (2017). Research evolution in science parks and incubators: Foundations and new trends. Scientometrics, 110(3), 1243–1272.  https://doi.org/10.1007/s11192-016-2218-5.Google Scholar
  25. Erickson, G., & Jacobson, R. (1992). Gaining comparative advantage through discretionary expenditures: The returns to R&D and advertising. Management Science, 38(9), 1264–1279.  https://doi.org/10.1287/mnsc.38.9.1264.Google Scholar
  26. Felsenstein, D. (1994). University-related science parks –‘seedbeds’ or ‘enclaves’ of innovation? Technovation, 14(2), 93–110.  https://doi.org/10.1016/0166-4972(94)90099-X.Google Scholar
  27. Ferguson, R., & Olofsson, C. (2004). Science park and the development of NTBFs-location, survival and growth. The Journal of Technology Transfer, 29(1), 5–17.  https://doi.org/10.1023/B:JOTT.0000011178.44095.cd.Google Scholar
  28. Fernhaber, S. A., & Patel, P. C. (2012). How do young firms manage product portfolio complexity? The role of absorptive capacity and ambidexterity. Strategic Management Journal, 33(13), 1516–1539.  https://doi.org/10.1002/smj.1994.Google Scholar
  29. Filatotchev, I., Liu, X., Lu, J., & Wright, M. (2011). Knowledge spillovers through human mobility across national borders: Evidence from Zhongguancun Science Park in China. Research Policy, 40(3), 453–462.  https://doi.org/10.1016/j.respol.2011.01.003.Google Scholar
  30. Fukugawa, N. (2006). Science parks in Japan and their value-added contributions to new technology-based firms. International Journal of Industrial Organization, 24(2), 381–400.  https://doi.org/10.1016/j.ijindorg.2005.07.005.Google Scholar
  31. Gao, S., Xu, K., & Yang, J. (2008). Managerial ties, absorptive capacity, and innovation. Asia Pacific Journal of Management, 25, 395–412.  https://doi.org/10.1007/s10490-008-9096-1.Google Scholar
  32. González-Sánchez, R., & García-Muiña, F. E. (2011). Conceptuación y medición del constructo capacidad de absorción: Hacia un marco de integración. Revista de Dirección y Administración de Empresas, 18, 43–65.Google Scholar
  33. Gordon, I. R., & McCann, P. (2000). Industrial clusters: Complexes, agglomeration and/or social networks? Urban Studies, 37(3), 513–532.  https://doi.org/10.1080/0042098002096.Google Scholar
  34. Hansen, B. (2000). Sample splitting and threshold estimation. Econometrica, 68(3), 575–603.  https://doi.org/10.1111/1468-0262.00124.Google Scholar
  35. Hoang, H., & Rothaermel, F. T. (2010). Leveraging internal and external experience: Exploration, exploitation, and R&D project performance. Strategic Management Journal, 31(7), 734–758.  https://doi.org/10.1002/smj.834.Google Scholar
  36. Hobbs, K. G., Link, A. N., & Scott, J. T. (2017a). Science and technology parks: An annotated and analytical literature review. The Journal of Technology Transfer, 42(4), 957–976.  https://doi.org/10.1007/s10961-016-9522-3.Google Scholar
  37. Hobbs, K. G., Link, A. N., & Scott, J. T. (2017b). The growth of US science and technology parks: Does proximity to a university matter? Annals of Regional Science, 59(2), 495–511.  https://doi.org/10.1007/s00168-017-0842-5.Google Scholar
  38. Huang, K. F., Yu, C. M. J., & Seetoo, D. H. (2012). Firm innovation in policy-driven parks and spontaneous clusters: The smaller firm the better? The Journal of Technology Transfer, 37(5), 715–731.  https://doi.org/10.1007/s10961-012-9248-9.Google Scholar
  39. Jiménez-Barrionuevo, M. M., García-Morales, V. J., & Molina, L. M. (2011). Validation of an instrument to measure absorptive capacity. Technovation, 31(5–6), 190–202.  https://doi.org/10.1016/j.technovation.2010.12.002.Google Scholar
  40. Johansson, B., & Lööf, H. (2008). Innovation activities explained by firm attributes and location. Economics of Innovation and New Technology, 17(6), 533–552.  https://doi.org/10.1080/10438590701407349.Google Scholar
  41. Kleinknecht, A., Van Montfort, K., & Brouwer, E. (2002). The non-trivial choice between innovation indicators. Economics of Innovation and New Technology, 11(2), 109–121.  https://doi.org/10.1080/10438590210899.Google Scholar
  42. Klette, T. J., & Griliches, Z. (2000). Empirical patterns of firm growth and R&D investment: A quality ladder model interpretation. The Economic Journal, 110(463), 363–387.  https://doi.org/10.1111/1468-0297.00529.Google Scholar
  43. Kogut, B., & Zander, U. (1992). Knowledge of the firm, combinative capabilities, and the replication of technology. Organization Science, 3(3), 383–397. http://www.jstor.org/stable/2635279.
  44. Kutner, M., Nachtsheim, C., Neter, J., & Li, W. (2004). Applied linear statistical models. New York: McGraw Hill.Google Scholar
  45. Lane, P. J., & Lubatkin, M. (1998). Relative absorptive capacity and interorganizational learning. Strategic Management Journal, 19(5), 461–477.  https://doi.org/10.1002/(SICI)1097-0266(199805)19:5<461::AID-SMJ953>3.0.CO;2-L.Google Scholar
  46. Leiponen, A. (2005). Skills and innovation. International Journal of Industrial Organization, 23(5–6), 303–323.  https://doi.org/10.1016/j.ijindorg.2005.03.005.Google Scholar
  47. Leyden, D. P., Link, A. N., & Siegel, D. S. (2008). A theoretical and empirical analysis of the decision to locate on a university research park. IEEE Transactions on Engineering Management, 55(1), 23–28.  https://doi.org/10.1109/TEM.2007.912810.Google Scholar
  48. Lindelöf, P., & Löfsten, H. (2003). Science park location and new technology-based firms in Sweden: Implications for strategy and performance. Small Business Economics, 20(3), 245–258.  https://doi.org/10.1023/A:1022861823493.Google Scholar
  49. Lindelöf, P., & Löftsen, H. (2004). Proximity as a resource base for competitive advantage: University-industry links for technology transfer. The Journal of Technology Transfer, 29(3/4), 311–326.  https://doi.org/10.1023/B:JOTT.0000034125.29979.ae.Google Scholar
  50. Link, A. N. (2009). Research, science, and technology parks: An overview of the academic literature. In National Research Council, Understanding research, science and technology parks: Global best practices. Report of a symposium (pp. 127–196). Washington, DC: The National Academies Press.  https://doi.org/10.17226/12546.
  51. Link, A. N. (2016). Competitive advantages from university research parks. In D. B. Audretsch, A. N. Link, & M. L. Walshok (Eds.), The Oxford handbook of local competitiveness (pp. 337–344). New York: Oxford University Press.Google Scholar
  52. Link, A. N., & Link, K. R. (2003). On the growth of U.S. science parks. The Journal of Technology Transfer, 28(1), 81–85.  https://doi.org/10.1023/A:1021634904546.Google Scholar
  53. Link, A. N., & Scott, J. T. (2003). U.S. science parks: The diffusion of an innovation and its effects on the academic missions of universities. International Journal of Industrial Organization, 21(9), 1323–1356.  https://doi.org/10.1016/S0167-7187(03)00085-7.Google Scholar
  54. Link, A. N., & Scott, J. T. (2006). U.S. university research parks. Journal of Productivity Analysis, 25(1–2), 43–55.  https://doi.org/10.1007/s11123-006-7126-x.Google Scholar
  55. Link, A. N., & Scott, J. T. (2007). The economics of university research parks. Oxford Review of Economic Policy, 23(4), 661–674.  https://doi.org/10.1093/oxrep/grm030.Google Scholar
  56. Link, A. N., & Scott, J. T. (2015). Research, science, and technology parks: Vehicles for technology transfer. In A. N. Link, D. S. Siegel, & M. Wright (Eds.), The Chicago handbook of university technology transfer and academic entrepreneurship. Chicago: University of Chicago Press.Google Scholar
  57. Link, A. N., & Yang, U. Y. (2017). On the growth of Korean technoparks. International Entrepreneurship and Management Journal.  https://doi.org/10.1007/s11365-017-0459-2.Google Scholar
  58. Lockett, A., Wright, M., & Franklin, S. (2003). Technology transfer and universities: Spin-out strategies. Small Business Economics, 20(2), 185–200.  https://doi.org/10.1023/A:1022220216972.Google Scholar
  59. Löfsten, H., & Lindelöf, P. (2001). Science parks in Sweden: Industrial renewal and development? R&D Management, 31(3), 309–322.  https://doi.org/10.1111/1467-9310.00219.Google Scholar
  60. Löfsten, H., & Lindelöf, P. (2002). Science parks and the growth of new technology-based firms: Academic-industry links, innovation and markets. Research Policy, 31(6), 859–876.  https://doi.org/10.1016/S0048-7333(01)00153-6.Google Scholar
  61. Löfsten, H., & Lindelöf, P. (2003). Determinants for an entrepreneurial milieu: Science parks and business policy in growing firms. Technovation, 23(1), 51–74.  https://doi.org/10.1016/S0166-4972(01)00086-4.Google Scholar
  62. Montoro-Sánchez, M. A., Ortiz-de-Urbina-Criado, M., & Mora-Valentín, E. M. (2011). Effects of knowledge spillovers on innovation and collaboration in science and technology parks. Journal of Knowledge Management, 15(6), 948–970.  https://doi.org/10.1108/13673271111179307.Google Scholar
  63. Mora-Valentín, E. M., Ortiz-de-Urbina-Criado, M., & Nájera-Sánchez, J. J. (2018). Mapping the conceptual structure of science and technology parks. The Journal of Technology Transfer.  https://doi.org/10.1007/s10961-018-9654-8.Google Scholar
  64. Motohashi, K. (2013). The role of the science park in innovation performance of start-up firms: An empirical analysis of Tsinghua Science Park in Beijing. Asia Pacific Business Review, 19(4), 578–599.  https://doi.org/10.1080/13602381.2012.673841.Google Scholar
  65. Ondategui, J. C. (2002). Parques científicos e innovación en España. Quince años de experiencia. Economía Industrial, 346, 147–160.Google Scholar
  66. Pesaran, M. H. (2015). Time series and panel data econometrics. Oxford: OUP.Google Scholar
  67. Phan, P. H., Siegel, D. S., & Wright, M. (2005). Science parks and incubators: Observations, synthesis and future research. Journal of Business Venturing, 20(2), 165–182.  https://doi.org/10.1016/j.jbusvent.2003.12.001.Google Scholar
  68. Poon, T. S. C. (1998). Inter-firm networks and industrial development in the global manufacturing system: Lessons from Taiwan. Economic and Labour Relations Review, 9(2), 262–284.  https://doi.org/10.1177/103530469800900206.Google Scholar
  69. Quintas, P., Wield, D., & Massey, D. (1992). Academic-industry link and innovation: Questioning the science park model. Technovation, 12(3), 161–175.  https://doi.org/10.1016/0166-4972(92)90033-E.Google Scholar
  70. Ramírez-Alesón, M., & Fernández-Olmos, M. (2018). Unravelling the effects of science parks on the innovation performance of NTBFs. The Journal of Technology Transfer, 43(2), 482–505.  https://doi.org/10.1007/s10961-017-9559-y.Google Scholar
  71. Rosenbaum, P. R., & Rubin, D. B. (1983). The central role of the propensity score in observational studies for causal effect. Biometrika, 70(1), 41–55.  https://doi.org/10.1093/biomet/70.1.41.Google Scholar
  72. Rothaermel, F. T., & Alexandre, M. T. (2009). Ambidexterity in technology sourcing: The moderating role of absorptive capacity. Organization Science, 20(4), 759–780.  https://doi.org/10.1287/orsc.1080.0404.Google Scholar
  73. Salvador, E. (2011). Are science parks and incubators good “brand names” for spin-offs? The case study of Turin. The Journal of Technology Transfer, 36(2), 203–232.  https://doi.org/10.1007/s10961-010-9152-0.Google Scholar
  74. Siegel, D. S., Westhead, P., & Wright, M. (2003). Assessing the impact of university science parks on research productivity: Exploratory firm-level evidence from the United Kingdom. International Journal of Industrial Organization, 21, 1357–1369.  https://doi.org/10.1016/S0167-7187(03)00086-9.Google Scholar
  75. Skeels, C. L., & Vella, F. (1999). A Monte Carlo investigation of the sampling behavior of conditional moment tests in tobit and probit models. Journal of Econometrics, 92(2), 275–294.  https://doi.org/10.1016/S0304-4076(98)00092-X.Google Scholar
  76. Squicciarini, M. (2008). Science park tenants versus out-of-park firms: Who innovates more? A duration model. The Journal of Technology Transfer, 33, 45–71.  https://doi.org/10.1007/s10961-007-9037-z.Google Scholar
  77. Squicciarini, M. (2009). Science parks: Seedbeds of innovation? A duration analysis of firms’ patenting activity. Small Business and Economics, 32(2), 169–190.  https://doi.org/10.1007/s11187-007-9075-9.Google Scholar
  78. Todo, Y., Zhang, W., & Zhou, L. A. (2011). Intra-industry knowledge spillovers from foreign direct investment in research and development: Evidence from China’s “Silicon Valley”. Review of Development Economics, 15(3), 569–585.  https://doi.org/10.1111/j.1467-9361.2011.00628.x.Google Scholar
  79. Tsai, K. H. (2001). Knowledge transfer in intraorganizational networks: Effects of network position and absorptive capacity on business unit innovation and performance. Academy of Management Journal, 44(5), 996–1004.  https://doi.org/10.2307/3069443.Google Scholar
  80. Tsai, K. H. (2009). Collaborative networks and product innovation performance: Toward a contingency perspective. Research Policy, 38(5), 765–778.  https://doi.org/10.1016/j.respol.2008.12.012.Google Scholar
  81. Tucker, J. W. (2010). Selection bias and econometric remedies in accounting and finance research. Journal of Accounting Literature, 29, 31–57.Google Scholar
  82. Tzabbar, D., Aharonson, B. S., & Amburgey, T. L. (2013). When does tapping external sources of knowledge result in knowledge integration? Research Policy, 42(2), 481–494.  https://doi.org/10.1016/j.respol.2012.07.007.Google Scholar
  83. Vásquez-Urriago, A. R., Barge-Gil, A., & Modrego Rico, A. (2016). Science and technology parks and cooperation for innovation: Empirical evidence from Spain. Research Policy, 45(1), 137–147.  https://doi.org/10.1016/j.respol.2015.07.006.Google Scholar
  84. Vásquez-Urriago, A. R., Barge-Gil, A., Modrego Rico, A., & Paraskevopoulou, E. (2014). The impact of science and technology parks on firms’ product innovation: Empirical evidence from Spain. Journal of Evolutionary Economics, 24(4), 835–873.  https://doi.org/10.1007/s00191-013-0337-1.Google Scholar
  85. Veugelers, R., & Cassiman, B. (2005). R&D cooperation between firms and universities. Some empirical evidence from Belgian manufacturing. International Journal of Industrial Organization, 23(5–6), 355–379.  https://doi.org/10.1016/j.ijindorg.2005.01.008.Google Scholar
  86. Westhead, P. (1997). R&D inputs and outputs of technology-based firms located on and off science parks. R&D Management, 27(1), 45–62.  https://doi.org/10.1111/1467-9310.00041.Google Scholar
  87. Westhead, P., & Storey, D. (1994). An assessment of firms located on and off science parks in the United Kingdom. London: HMSO.Google Scholar
  88. Yang, C. H., Motohashi, K., & Chen, J. R. (2009). Are new technology-based firms located on science parks really more innovative? Evidence from Taiwan. Research Policy, 38(1), 77–85.  https://doi.org/10.1016/j.respol.2008.09.001.Google Scholar
  89. Yu, P. (2013). Inconsistency of 2SLS estimators in threshold regression with endogeneity. Economics Letters, 120(3), 532–536.  https://doi.org/10.1016/j.econlet.2013.06.023.Google Scholar
  90. Zahra, S. A., & George, G. (2002). Absorptive capacity: A review, reconceptualization, and extension. Academy of Management Review, 27(2), 185–203.  https://doi.org/10.2307/4134351.Google Scholar
  91. Zahra, S. A., Van de Velde, E., & Larrañeta, B. (2007). Knowledge conversion capability and the performance of corporate and university spin-offs. Industrial and Corporate Change, 16(4), 569–608.  https://doi.org/10.1093/icc/dtm018.Google Scholar
  92. Zucker, L. G., Darby, M. R., & Armstrong, J. S. (2002). Commercializing knowledge: University science, knowledge capture, and firm performance in biotechnology. Management Science, 48(1), 138–153.  https://doi.org/10.1287/mnsc.48.1.138.14274.Google Scholar

Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Facultad de Ciencias Económicas y EmpresarialesUniversidad Autónoma de MadridMadridSpain
  2. 2.Facultad de Ciencias Jurídicas y SocialesUniversidad Rey Juan CarlosMadridSpain

Personalised recommendations