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David B. Audretsch, Erik E. Lehmann and Susanne Warning

This paper examines the impact of locational choice as a firm srategy to access knowledge spillovers from universities. Based on a large dataset of publicly listed, high-technolgy startup firms in Germany, we test the proposition that proximity to the university is shaped by different spillover mechanisms—research and human capital—and by different types of knowledge spillovers—natural scienes and social sciences.