Knowledge spillover of innovation: Entrepreneurial difference
研究了不同年龄和规模的企业如何从外部知识合作中获益，发现知识溢出对产品创新和新市场进入有促进作用，但边际收益递减，且企业年龄比规模更能调节这种效应。
This paper extends the knowledge spillover theory of entrepreneurship and innovation to explain how firms of different ages (startups vs. incumbents) and sizes (small vs. medium/large) benefit differently from external knowledge collaboration. Drawing on the distinction between active (formal) and passive (informal) spillovers, we examine how the intensity of knowledge collaboration influences two key innovation outcomes: product innovation and new market entry. Using a panel dataset of 27,685 UK firms (2005–2015), we show that the gains from knowledge spillovers for all types of firms are subject to diminishing marginal returns as collaboration intensity increases, while the findings between startups and incumbents are more nuanced than between small and medium/large firms. The benefits from knowledge spillover of innovation vary by knowledge spillover type, intensity, and mode of engagement, as well as innovation outcome. These findings refine the knowledge spillover theory by emphasizing the importance of firm age over size (entrepreneurial difference) in moderating innovation outcomes. • We explain how firms of different ages and sizes innovate • Knowledge spillovers facilitate propensity to innovate new products and enter new markets. • Returns to knowledge spillover of innovation are diminishing for all, but vertical knowledge spillovers • Firm age over size moderates the effect of knowledge spillover on innovation outcomes.