Does location in a science park really matter for firms’ intellectual capital performance?

Abstract

Purpose – The purpose of this paper is to investigate the effect of being located in a science park (SP) on the level of a firm's intellectual capital (IC) performance. Design/methodology/approach – Using a sample of 183 Italian firms (i.e. 61 tenant and 122 non-tenant firms), and through the GLS technique, the authors regress the firms’ IC performance across various explicative variables including a dummy that discriminates tenant and non-tenant firms. Findings – Consistently with expectations, the results show that the location of a firm in a SP leads to improved IC performance. Moreover, the authors find that some other firm characteristics, such as size, age, and leverage, are important predictors of its IC-based performance. Research limitations/implications – The sample is small and the impact on performance might be biased by factors related to the regional context (e.g. level of industrialization, quality of education, and science system). Practical implications – Implications for policy makers: support the growth of firms in SPs especially in those industries full of firms with scarce performance in IC. Implications for SP managers: they could “sell” (in terms of marketing) to both entrepreneurs to attract and policy makers this result. Implications for institutional investors: they should look at SPs with greater interest to find high-quality firms and improve their screening activity. Originality/value – This paper aims to extend literature about factors explaining the level of a firm's IC performance and the current understanding of the impact of SPs at firm level.

Do Corporate Social Responsibility and Corporate Governance Influence Intellectual Capital Efficiency?

“…Consistent with Pedrini's literature review [18], in the past, several instruments have been adopted to measure and monitor IC. From an accounting-based perspective, a widely used quantitative measure of IC is VAIC, the value-added intellectual capital model (e.g., References [27,31,39,[75][76][77]. In particular, this model was implemented to measure IC efficiency and, thus, the contribution to firm financial performance.…”

“…Following various studies (e.g., References [76,77]), this paper uses the VAIC as a proxy of the value added (VA) by a firm's human capital (HC), structural capital (SC), and capital employed (CE).…”

Does intellectual capital affect the venture creation decision in India?

“…Some have expounded the concept of intellectual capital theoretically (Bontis, 1998;Roos & Roos, 1997;Stewart, 1997;Wu, 2005) while others have dealt with the concept through intellectual capital measurement models, e.g., Intangible Asset Monitor, VAIC™, Skandia IC Navigator, IC-Index™, etc. (Corrado, Hulten, & Sichel, 2004;Pulic, 2000;Stewart, 1997) and examined the relationship of IC with some key factors at different levels (Al-Musalli & Ismail, 2012;El-Bannany, 2008;Liang, Huang, & Lin, 2011;Schiavone, Meles, Verdoliva, & Del Giudice, 2014). The relationship between a firm's intellectual capital and its operating performance, financial performance, and enterprise value is the recent research thrust area.…”

International entrepreneurship in universities: Context, emergence and actors

“…As part of their technology and knowledge transfer strategies, universities have increasingly supported spin-out 1 and spin-in firms and this has created challenges for both universities and founders of university-based spin-off firms (see and Pirnay et al 2003). Moreover, universities are now focusing on approaches and mechanisms that will enhance and add further value to university-based spin-offs (see Schiavone et al, 2014;Mian 1996). The creation of university incubators has been an institutional response of many universities to a growing demand from policy makers and funding agencies to the need for commercialization of research and creation of university-based spins-offs.…”