Does a Clustered Location Matter for Bio-Technology Companies’ Survival and Growth?

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Young research-intensive high-technology firms tend to agglomerate in regions, by establishing their companies nearby public scientific institutes as providers of knowledge and infrastructure, and also clustering around large industrial companies and venture financing. The acceptance of
Bachelorthemen Frühjahr- / Sommersemester 2013 Seite 14 von 21
the existence of cluster advantages is clearly visible when looking at national and regional public policies in Europe and US to enhance new firm formation in high-technology. Theoretically, it is suggested that various mechanisms such as low transaction costs, knowledge spillovers and tacit knowledge flows which result from spatial proximity and networking in clusters contribute to a better performance of firms. However, despite a growing literature on this topic, there is scarce empirical evidence on whether a clustered location results in a superior company performance. Giving an overview of recent work, Geenhuizen & Reyes-Gonzalez (2007, p. 1683) argue that there is a shortage of studies in which the theoretical and policy claims of the cluster advantages in biotechnology are critically evaluated on basis of a systematic and longitudinal analysis. Thu, also little can be said about the precise mechanisms which might underlie the link between cluster belonging and firm success. Particularly, the assumption that spatial proximity promotes learning and tacit knowledge flow is challenged by several scholars. The criticism is that e.g. highly specialized knowledge can also be transmitted among geographically distant actors, if they are embedded in specific organizational networks (such as strategic alliances) (see e.g. Bathelt et al. 2004).
This thesis should address the following questions while reviewing and presenting theory and empirical evidence on the association between cluster embeddedness and firm performance: (i) whether and to what extent does cluster embeddedness result in a better performance of bio-technology firms, (ii) what distinguishes good clusters from “bad” ones or, put differently, can clusters be seen as being heterogeneous when it comes to their characteristics, development over time and their contribution to the firm development?

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