SSE/EFI Working Paper Series in Business Administration
Knowledge combinations and the survival of financial services ventures
Abstract: This paper investigates the role of knowledge in the
evolution of new financial services ventures in Sweden between 1990 and
2002. Drawing upon economic theories of human capital and spin-out
entrepreneurship, we investigate if knowledge from prior employment in the
financial and technological industries facilitates the survival of new
entrepreneurial firms. Based on a database tracking the evolution of 1,077
financial services ventures, we find that firms with more extensive
knowledge from the financial services and high-tech sectors have higher
chances of survival than firms with more narrow knowledge bases. Our
findings offer contributions to the emerging literature on spin-out
entrepreneurship and to research on entrepreneurship in services.
Keywords: Entrepreneurship; Spin-out; spin-off; Knowledge; Financial services; Survival analysis; (follow links to similar papers)
29 pages, January 5, 2008
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- This paper is forthcoming as:
Wennberg, Karl, 'Knowledge combinations and the survival of financial services ventures', Journal of evolutionary economics.
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