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作者

来源

来源 JOURNAL OF URBAN ECONOMICS,Vol.81,P.149-165

语言

英文

关键字

047;018;L16;Innovation;Spin-outs;Cities;Patents;Firm size diversity;Externalities

作者单位

Rotman School of Management, University of Toronto, Canada;NBER, USA;Boston University, USA;Institute for Management & Innovation, University of Toronto, Canada;CEPR, United Kingdom;Scheller College of Business, Georgia Institute of Technology, United States;Rotman School of Management, University of Toronto, Canada;NBER, USA;Boston University, USA;Institute for Management & Innovation, University of Toronto, Canada;CEPR, United Kingdom;Scheller College of Business, Georgia Institute of Technology, United States

摘要

We study the impact of small firms on innovation in regions where large labs are present. Small firms generate demand for specialized services that lower entry costs for others. This effect is particularly relevant in the presence of large firms that spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. We examine MSA-level patent data during the period 1975–2000 and find that innovation output is higher in regions where both a sizable population of small firms and large labs are present. The finding is robust to across-region as well as within-region analysis and the effect is stronger in certain subsamples in a manner that is consistent with our explanation.