External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.

A matter of location: the effect of social capital in overcoming the liability of newness

MASCIARELLI, FRANCESCA;
2010-01-01

Abstract

External knowledge acquisition represents a precondition for firms’ competitive advantage. However, young firms find it particularly difficult to gain access to external sources of knowledge: young firms suffer from a liability of newness by exhibiting significantly lower propensities to invest in external R&D than their older counterparts. We explore the role of geographically bound social capital in moderating this liability. By employing a Nested Logit approach, our findings show that geographically bound social capital moderates the liability of newness related to R&D acquisition, suggesting that the liability exists only in regions associated with low levels of social capital.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11564/367950
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