Differential performance of science park firms: an integrative model
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This study integrates perspectives from the literature on science parks, environment dynamism, and on the resources-based view of the firm, to develop an integrative model of the park location value to resident firms. Consistent with our theorizing, the externalities generated by the science park, the firm’s idiosyncratic endowment in a wide range of resources, and its heterogeneous competitive environment jointly influence the differential performance of science park firms. The results suggest that firms residing in science parks with more co-located complementary firms demonstrate better sales and sales growth performance. A firm’s certain internal and external resource endowment and the munificent environments within which a firm operates serve as enabling conditions for better sales and sales growth performance.
KeywordsScience parks Competitive environment Location economics Spillover effect Small firm performance and growth
The authors thank Laura Hill and Christine Westgate for their help with the research and writing of this paper and The Institute for Exceptional Growth Companies and the Edward Lowe Foundation for providing access to the database used in this research.
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