Climbing up the regional intellectual capital tree: an EU entrepreneurial ecosystem analysis

Abstract

PurposeThis study responds to calls by researchers to examine the relation between innovation and entrepreneurial ecosystems more closely, and also to further broaden our understanding of regional intellectual capital formation.Design/methodology/approachA cross-sectional analysis was conducted on NUTS 2 regions of the selected EU countries. In the empirical part of the research, multiple linear regression approaches were carried out using secondary data.FindingsIn sampled regions, the entrepreneurial ecosystem positively affects levels of high growth firms and levels of regional innovation capital.Practical implicationsResults lend further support to policymakers to develop and implement a regional-specific policy for fostering entrepreneurial ecosystems. However, given the multiple output nature of entrepreneurial ecosystems, this issue becomes more complicated than ever before.Originality/valueThis study builds upon previous research and complements it by widening the range of effects that the entrepreneurial ecosystem has. In doing so, this study is the first to examine the concurrent effects of these ecosystems on levels of high growth firms and innovation capital while using a regional innovation capital outlook.

Genesis of an innovation-based entrepreneurial ecosystem: exploring the role of intellectual capital

“…The concept of IC has been extensively studied in recent decades, and today it plays an important role in a new economy in which knowledge and information have become major drivers of competitive advantage and value creation (Cuganesan, 2005;Del Giudice and Della Peruta, 2016;Fiano et al, 2020). Despite the amount of work that addresses the role and importance of IC in creating value for a company, scholars continue to dispute definitions and conceptualisations (Mikic et al, 2020;Pedro et al, 2018). Brooking (1996, p. 12) defined IC as the "combined intangible assets which enable the company to function", whilst Stewart (1997) considered it to be a combination of knowledge, information, intellectual property and experience that can be used to create wealth.…”

“…, 2020). Despite the amount of work that addresses the role and importance of IC in creating value for a company, scholars continue to dispute definitions and conceptualisations (Mikic et al. , 2020; Pedro et al.…”

Where are the entrepreneurs? A call to theorize the micro-foundations and strategic organization of entrepreneurial ecosystems

“…the ecosystem’s regulatory institutions, culture, or market infrastructure) influence its overall levels of entrepreneurial activity and/or aggregate regional (or national) economic performance (e.g. Content et al, 2020; Hechavarría and Ingram, 2019; Iacobucci and Perugini, 2021; Mikic et al, 2021; Nicotra et al, 2018; Szerb et al, 2019; Xie et al, 2021). We posit that EE theory’s tendency to focus on macro-dynamics has multiple origins: the proclivities of EE scholars, the ecosystem metaphor, and data availability.…”

Enablers of explorative and exploitative intellectual capital in entrepreneurial ecosystems

“…EEs are arenas in which productive entrepreneurship and regional IC are created (Mikic et al ., 2021). Scholars have recently focused on the intangible resources of EEs by drawing on the concepts of capacity building and adaptive, multilevel learning (Roundy, 2020) and by exploring microfoundations, human-related dynamics (Roundy and Fayard, 2019) and the knowledge flows occurring in EEs (Del Giudice and Maggioni, 2014; Jones and Ratten, 2021).…”