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Highly innovative small technology firms, industrial clusters and firm internationalization

journal contribution
posted on 2023-06-08, 11:48 authored by Dirk Libaers, Martin Meyer
This study examines the role and differential impact of industrial clustering in the internationalization of small technology-based firms. Serial innovator firms are a set of small, long-lived technology-based firms with a stellar record of inventive success. In contrast, non-serial innovators are small technology-based firms with much weaker inventive capabilities. Using theoretical insights from the resource-based view and density dependence theory, we demonstrate that both serial and non-serial innovator firms benefit from rising levels of industrial clustering in their efforts to internationalize; however, non-serial innovators experience decreasing returns with increasing levels of clustering. In addition, our analysis indicates that overall serial innovator firms benefit more from industrial clustering in terms of internationalization than non-serial innovator firms. The underlying premise and contribution of this study is that all small technology-based firms are not the same and that serial innovators are more effective at leveraging cluster-based resources than non-serial innovators, even when they operate in the same industry. Policy implications for research and economic development are discussed.

History

Publication status

  • Published

Journal

Research Policy

ISSN

0048-7333

Publisher

Elsevier

Issue

10

Volume

40

Page range

1426-1437

Department affiliated with

  • Business and Management Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-06-14

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