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Alessandra Colombelli and Nick von Tunzelmann

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Cristiano Antonelli and Alessandra Colombelli

This chapter implements the notion of s recombinant knowledge generation function, and explores the role of internal and external knowledge in the generation of new technological knowledge. It enables us to appreciate: i) the complementary as opposed to supplementary role of external knowledge; and ii) the role of the size and composition of the internal stock of knowledge. The empirical section is based on a panel of companies listed on the main European financial markets for the period 1995–2006. The econometric analysis is based on simultaneous equations. The results confirm that R & D efforts and external knowledge are indispensable to the generation of new technological knowledge.

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Cristiano Antonelli and Alessandra Colombelli

This chapter explores the knowledge cost function, the study of which makes possible important progress in grasping the determinants of the large variance in the cost of innovation across firms. The amount of external knowledge and internal stocks of knowledge that firms can access and use in the generation of new technological knowledge helps firms reduce the costs of innovation. The empirical section is based upon companies listed on the financial markets in the UK, Germany, France and Italy for the period 1995–2006 for which information about patents have been gathered. The econometric analysis of the costs of innovation knowledge considers the unit costs of patents alongside R & D expenditure and the stock of internal and external knowledge for each firm. The results confirm that the stock of internal knowledge and access to external knowledge play key roles in assessing the actual capability of each firm to generate new technological knowledge.

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Alessandra Colombelli and Francesco Quatraro

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Alessandra Colombelli and Francesco Quatraro

There is wide consensus about the importance of green technologies for achieving superior economic and environmental performances. The literature on their determinants has neglected the creation of green start-ups as a channel to bring about green technologies in the market. Drawing upon the knowledge spillovers theory of entrepreneurship, we test the relevance of local knowledge stocks, distinguishing between clean and dirty stocks, for the creation of green start-ups. Moreover, the effects of the technological composition of local stocks are investigated, by focusing on technological variety, both related and unrelated, as well as on coherence. Consistently with recent literature, green start-ups are associated with higher levels of variety, pointing to the relevance of diverse and heterogeneous knowledge sources, but in related and complementary technological fields.

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Alessandra Colombelli, Gianluca Orsatti and Francesco Quatraro

This chapter investigates sectoral differences in the relationship between new firm formation and the properties of local knowledge bases, i.e. technological coherence, cognitive distance and variety. By combining the literature on the knowledge spillovers of entrepreneurship with the recombinant knowledge approach, we posit that the availability of local knowledge together with its composition specificities explain local entrepreneurial processes. The analysis focuses on Italian NUTS 3 regions, observed over the period 1995-2009. Results confirm that local knowledge spillovers are drivers of firm creation. However, the evidence about the knowledge indicators shows that coherence is negatively associated to new firm formation, while variety yields positive effects. This suggests that the creation of new firms is associated with exploration-oriented local search strategies, and that established technological trajectories are beneficial to incumbents rather than to prospective new entrepreneurs.