The effect of entrepreneurial origin on firms' performance: the case of Portuguese academic spinoffs

摘要

We investigate the role of entrepreneurial origin on firms' performance by comparing academic spinoff firms with their non-academic counterparts. Academic spinoffs grow through resources accumulation and internationalization; yet they do not translate these advantages into productivity gains. The access to upstream complementary resources appears to play a chief role in explaining the academic spinoffs' superior performance. Academic spinoffs are contributing to economic development by creating new jobs, but their relevance as a source of sustained economic value is limited so far.