Unmasking intellectual capital from gender and nationality diversity on university spin-offs’ boards: a study on non-linear effects upon firm innovation

Abstract

PurposeThe purpose of this study is to analyze the impact of human capital related to gender and nationality diversity in boards of directors on the innovation of university spin-offs (USOs) in their entrepreneurial ecosystem. Following the intellectual capital (IC) framework and the resource dependence theory, upper echelons theory and critical mass theory, it hypothesizes that the relationship between board diversity and USOs’ firm innovation is non-linear.Design/methodology/approachTo test the research hypotheses empirically, a sample of 827 Italian USOs over the period 2009–2018 was analyzed using zero-inflated Poisson regression modeling. A robustness test was also performed.FindingsGender obstacles remain in USOs’ entrepreneurial ecosystem, with little involvement of women in boards, and the benefits of human capital for firm innovation emerge with increased female representation. Nevertheless, a few foreign-born directors embody valued IC in terms of human capital from an internationally linked entrepreneurial ecosystem, which decreases with more foreign-born directors due to communication costs and coordination problems.Research limitations/implicationsThe emerging non-linear relationships imply that gender- and nationality-diverse boards in USOs constitute critical human capital factors boosting the devolvement of entrepreneurial processes, in terms of firm innovation, in university entrepreneurial ecosystems.Originality/valueThis study contributes significantly to the move from traditional corporate governance analysis through an IC framework, fostering an understanding of the role of human capital and its diversity determinants in spurring firm innovation among USOs considering the university entrepreneurial ecosystem.

Intellectual capital's contribution to innovative female agri-start-ups: a multiple case study

“…This implication theorized in the paper is also evident from the fact that the role of RC is observed in a sector that is currently very deficient in terms of innovation, namely agri-food (Modaffari and Manzo, 2023;Paoloni et al, 2022a;Cosentino et al, 2020;Sharma et al, 2019). This suggests that IC components, in their uniqueness and circularity, can modify specific variables in enterprises' practices to improve SMEs' performance (Prencipe et al, 2022;Cabrilo et al, 2020;Orlando et al, 2020).…”

“…Innovation can be summarized as modifying specific variables in enterprises' practices to improve performance. The literature recognizes the IC contribution to this purpose as well (Paoloni et al, 2022b(Paoloni et al, , 2023Prencipe et al, 2022;Cabrilo et al, 2020), along with its three JIC 24,6 components, namely HC, SC and RC (Dabic et al, 2021). HC refers to employees' capabilities (Harrison and Sullivan, 2000;Edvinsson, 2000); SC is defined as the organization's infrastructure, systems, policies and procedures (Rahman et al, 2021;Bontis et al, 2018;Cuganesan, 2005).…”

“…In recent years, the number of studies on intellectual capital (IC) has increased rapidly (Dabic et al, 2021;Prencipe et al, 2022;Paoloni et al, 2022bPaoloni et al, , 2023. The literature considers IC as an essential asset that impacts the company's development and innovation (Cabrilo et al, 2020).…”

Guest editorial: Unveiling the roles of intellectual capital in entrepreneurial ecosystems: evidence from moderate innovative countries

“…The first two focus on HC. Using a sample of 827 Italian cases over the period 2009–2018, Prencipe et al (2023) perform a regression analysis to unmask the role of HC as a subcomponent of IC in a distinctive knowledge-intensive EE of university spin-offs in Italy. Theoretically, they build an overarching logical framework incorporating the theories of resource dependence, upper echelons and critical mass from different domains, thus enriching the IC and the EE literature by indicating the cross-disciplinary nature of relevant issues.…”

The effect of cultural orientations (performance and sociality) on country innovation: a trajectories analysis perspective

“…According to Prencipe et al (2022), the diversity of human capital can provide experiences and skills and access to different backgrounds that improve decision-making processes. Similarly, other studies suggest that human capital plays a critical role in how innovation affects performance.…”