Entrepreneurship capital and its impact on knowledge diffusion and economic performance

In this paper, we develop two hypotheses: First, regional innovation efforts have a positive impact on regional knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic performance. We test these hypotheses using county level data from W...

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Bibliographic Details
Published in:Journal of business venturing 2008-11, Vol.23 (6), p.687-698
Main Authors: Audretsch, David B., Bönte, Werner, Keilbach, Max
Format: Article
Language:English
Subjects:
Correlation analysis
Economic models
Economic performance
Entrepreneurs
Entrepreneurship
Hypotheses
Innovation
Innovations
Knowledge
Structural equation model
Studies
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Summary:In this paper, we develop two hypotheses: First, regional innovation efforts have a positive impact on regional knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic performance. We test these hypotheses using county level data from West Germany, employing a structural equation model to analyze the relationships between latent variables. Our empirical analysis provides evidence supporting both hypotheses. In particular, our results suggest that innovation efforts have an indirect effect on economic performance via entrepreneurship. This indirect effect is neglected in existing empirical studies focusing on the direct effect of innovation on economic performance.
ISSN:0883-9026
1873-2003
DOI:10.1016/j.jbusvent.2008.01.006