Science Parks and the Performance of New Technology-Based Firms: A Review of Recent U.K. Evidence and an Agenda for Future Research

Donald S. Siegel, Paul Westhead, Mike Wright

Research output: Contribution to journalReview article

126 Scopus citations

Abstract

Science parks were established to stimulate the formation and development of new technology-based firms (NTBFs). Despite the potential importance of these institutions as a mechanism for generating technological spillovers and employment growth, there has been little systematic analysis of their impact on NTBFs. In this paper, we review some recent evidence comparing the performance of firms located on and off U.K. science parks. This preliminary evidence suggests that the "returns" to being located on a science park are negligible. We conjecture that these results may be due to imprecise estimates of these returns and may also be masking important differences in the returns to different types of science parks. In addition, we outline an agenda for additional research on the effects of these institutions on NTBF performance.

Original languageEnglish (US)
Pages (from-to)177-184
Number of pages8
JournalSmall Business Economics
Volume20
Issue number2
DOIs
StatePublished - Mar 1 2003
Externally publishedYes

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ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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