Knowledge Spillover: An Oasis or a Mirage for New Venture Creation
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This dissertation investigates how knowledge spillover influences the creation of new ventures. We focus on the following two aspects of knowledge spillover that remain less researched in current studies. First, knowledge flow is not unidirectional. A region experiences both inflow and outflow of knowledge as well as a flow of knowledge among organizations within a state. Second, the effect of knowledge flow depends on the type of knowledge that is transmitted. While codified knowledge is relatively easily transferred, tacit knowledge is more difficult to transfer. We tested our hypotheses using patent data and a sample of new establishments in the United States from 1996 to 2014. We measured codified knowledge spillover using patent citations and tacit knowledge spillover using inventor mobility. We found that, with patent citations, inflow and intrastate knowledge spillover have positive effects on new venture creation. With inventor mobility, intrastate inventor mobility has a positive and significant effect on the creation of new ventures. From the results, we confirmed that knowledge spillover within a state, in terms of the localization of knowledge transfer, happens through both patent citation and inventor mobility.
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