The role of the entrepreneur in new technology-based firms (NTBFs)An analysis according to context development

  1. Guillermo Zapata Huamaní 1
  2. Sara Fernández López 1
  3. Isabel Neira Gómez 1
  4. Lucía Rey Ares 1
  1. 1 Universidade de Santiago de Compostela

    Universidade de Santiago de Compostela

    Santiago de Compostela, España


Estudios Economicos Regionales y Sectoriales : EERS: Regional and sectoral economic studies : RSES

ISSN: 1578-4460

Ano de publicación: 2017

Volume: 17

Número: 2

Páxinas: 25-42

Tipo: Artigo

Outras publicacións en: Estudios Economicos Regionales y Sectoriales : EERS: Regional and sectoral economic studies : RSES


Citas recibidas

  • Citas en Dialnet Métricas: 1 (04-06-2023)

SCImago Journal Rank

  • Ano 2017
  • Impacto SJR da revista: 0.172
  • Cuartil maior: Q4
  • Área: Economics and Econometrics Cuartil: Q4 Posición na área: 487/703

Índice Dialnet de Revistas

  • Ano 2017
  • Factor de impacto da revista: 0,150
  • Ámbito: ECONOMÍA Cuartil: C2 Posición no ámbito: 73/170


  • Ciencias Sociais: B

Scopus CiteScore

  • Ano 2017
  • CiteScore da revista: 0.9
  • Área: Economics and Econometrics Percentil: 35


The importance of New Technology-Based Firms’ (NTBFs) contribution to economic growth makes it necessary to understand the factors that condition their emergence. We use a logit model to measure the effect of individual characteristics of the entrepreneurial population on NTBF creation. The analysis is performed at global level, using the GEM database and distinguishing three groups of countries based on the country’s development level (factor-, efficiency- and innovation-driven economies). Being under 35 years of age, having studied beyond secondary school, having work experience, knowing an entrepreneur personally and believing one has the ability to be an entrepreneur are factors with a positive and significant influence on technological entrepreneurship (TE). The results are similar independently of the context in which they were analysed. However, setting up NTBFs is more complex in factor-driven economies.

Referencias bibliográficas

  • Almus, M., & Nerlinger, E. A. (1999). Growth of new technology-based firms: which factors matter? Small Business Economics, 13(2), 141-154.
  • Álvarez, C., & Urbano, D. (2011). Environmental factors and entrepreneurial activity in Latin America. Academia Revista Latinoamericana de Administración, 48, 126-139.
  • Álvarez, S., & Barney, J. (2002). Resource-based theory and the entrepreneurial firm. In Hitt, M.A., Ireland, R. D., Camp, S. M., Sexton, D. L. (Eds.), Strategic Entrepreneurship. Blackwell Publishers, Oxford, pp. 89-105.
  • Audretsch, D. B., & Lehmann, E. E. (2005). Does the knowledge spillover theory of entrepreneurship hold for regions? Research Policy, 34(8), 1191-1202.
  • Audretsch, D. B. (1995). Innovation and Industry Evolution. Cambridge, MA: MIT Press.
  • Autio, E., Kanerva, R., Kaila, M., & Kauranen, I., (1989). Uudet teknologiayritykset. New Technology-Based Firms, SITRA Publication, Helsinki.
  • Bandura, A. (1977). Social Learning Theory. Prentice Hall, Englewood Cliffs, NJ.
  • Bercovitz, J., & Feldman, M. (2008). Academic entrepreneurs: organizational change and the individual level. Organization Science, 19(1), 69-89.
  • Bertoni, F., Colombo, M.G., & Grilli, L. (2011). Venture capital financing and the growth of high-tech start-ups: disentangling treatment from selection effects. Research Policy, 40(7), 1028-1043.
  • Bosma, N., Hessels, J., Schutjens, V., Van Praag, M., & Verheul, I. (2012). Entrepreneurship and role models. Journal of Economic Psychology, 33(2), 410-424.
  • Calvo, N., Rodeiro-Pazos, D., & Fernández-López, S. (2017). Science and technology parks as accelerators of knowledge-intensive business services. A case study. International Journal of Business and Globalisation, 18(1), 42-57.
  • Carter, N. M., Brush, C. G., Greene, P. G., Gatewood, E., & Hart, M. M. (2003). Women entrepreneurs who break through to equity financing: the influence of human, social and financial capital. Venture Capital, 5(1), 1–28.
  • Clarysse, B., & Moray, N. (2004). A process study of entrepreneurial team formation: the case of a research-based spin-off. Journal of Business Venturing, 19(1), 55-79.
  • Cliff, J. E. (1998). Does one size fit all? Exploring the relationship between attitudes towards growth, gender, and business size. Journal of Business Venturing, 13(6), 523-542.
  • Coad, A., & Reid, A. (2012). The role of technology and technology-based firms in economic development: rethinking innovation and enterprise policy in Scotland. Technopolis Group, Belgium, August 2012.
  • Colombelli, A. (2016). The impact of local knowledge bases on the creation of innovative startups in Italy. Small Business Economics, 1-14.
  • Colombo, M. G., & Grilli, L. (2005). Founders' human capital and the growth of new technology based firms: a competence-based view. Research Policy, 34, 795-816.
  • Colombo, M.G.,& Grilli, L. (2010). On growth drivers of high-tech start-ups: exploring the role of founders' human capital and venture capital. Journal of Business Venturing, 25(6), 610-626.
  • Cunha, D., Silva, S., & Teixeira, A. A. (2013). Are academic spin-offs necessarily new technology-based firms? (No. 482). Universidade do Porto, Faculdade de Economia do Porto.
  • Donckels, R. (1989). Tech versus Common Starters: comparison by means of 32 case studies, Small Business Research Institute, Brussels.
  • Du Rietz, A., & Henrekson, M. (2000). Testing the female underperformance hypothesis. Small Business Economics, 14(1), 1-10.
  • Eurochambres (2004). Women in business and in decision making: a survey of women entrepreneurs. Proyecto de investigación cofinanciado por la Comisión Europea.
  • Fagenson, E., & Jackson, J. (1993). The status of women managers in the United States. International Studies of Management & Organization, 23(2), 93-112.
  • Forero-Pineda, C., Corredor, S. and Forero, N. (2010). Business networks and innovation in SMEs and large firms of a developing country, The 5th IEEE International Conference on Management of Innovation and Technology, June 2010, Singapore.
  • Gibb, A. (1997). Small firms training and competitiveness: building upon the small business as a learning organisation. International Small Business Journal, 15, 12-29.
  • Goldin, C. (2006). The quiet revolution that transformed women’s employment, education, and family. [Working Paper No. 11953], National Bureau of Economic Research, Cambridge, MA.
  • Harvey, K. (1994). From handicap to nice little earner: a study of academic spin-off enterprise. in Manchester Business School Conference.
  • Hurst, E., & Lusardi, A. (2004). Liquidity constraints, household wealth, and entrepreneurship. Journal of Political Economy, 112(2), 319-347.
  • Kantis, H., Federico, J., & García, S. I. (2014). Índice de condiciones sistémicas para el emprendimiento dinámico: una herramienta para la acción en América Latina. Asociación Civil Red Pymes Mercosur.
  • Kantis, H., Ishida, M., & Komori, M. (2002). Empresarialidad en economías emergentes: creación y desarrollo de nuevas empresas en América Latina y el Este de Asia. Inter-American Development Bank.
  • Laranja, M., & Fontes, M. (1998). Creative adaptation: the role of new technology based firms in Portugal. Research Policy, 26(9), 1023-1036.
  • Mayer, H. (2008). Segmentation and segregation patterns of women-owned high-tech firms in four metropolitan regions in the United States. Regional Studies, 42(10), 1357-1383.
  • Morse, E. A., Fowler, S. W., & Lawrence, T, B. (2007). The impact of virtual embeddedness on new venture survival: overcoming the liabilities of newness. Entrepreneurship: Theory and Practice, 31(2), 139-159.
  • Mustar, P. (1998). Partnerships, configurations and dynamics in the creation and development of SMEs by researchers, Industry and Higher Education, 217-221.
  • Neergaard, H., Nielsen, K., & Kjeldsen, J. (2006). State of the art of women’s entrepreneurship, access to financing and financing strategies in Denmark. In Growth-oriented Women Entrepreneurs and Their Businesses: A Global Research Perspective, Edward Elgar, Cheltenham, United Kingdom. pp. 88-111.
  • Ortín, P., Salas, V., Trujillo, M., & Vendrell, F. (2008). La creación de spin-off universitarios en España: características, determinantes y resultados. Economía Industrial, 368, 79-95.
  • Reynolds, P. D., Bygrave, B. & Hay, M. (2003). Global Entrepreneurship Monitor Report, Kansas City. MO: E. M. Kauffmann Foundation.
  • Reynolds, P., Bosma, N., Autio, E., Hunt, S., De Bono, N., Servais, I., López-García, P., & Chin, N. (2005). Global entrepreneurship monitor: data collection design and implementation 1998–2003. Small Business Economics, 24(3), 205-231.
  • Rickne,A.,&Jacobsson,S.(1999). New technology-based firms in Sweden: a study of their direct impact on industrial renewal. Economics of Innovation and New Technology, 8(3), 197-223.
  • Roberts, E. B. (1991). Entrepreneurs in high technology: lessons from MIT and beyond. Oxford University Press.
  • Rodríguez, M. J., Fernández, S., Rodeiro, D., & Vivel, M. (2013). Emprendimiento tecnológico: Una cuestión de género también en la universidad? Jornadas Hispanolusas.
  • Rodríguez-Gulías, M. J., Fernández-López, S., & Rodeiro-Pazos, D. (2016). Growth determinants in entrepreneurship: A longitudinal study of Spanish technology-based university spin-offs. Journal of International Entrepreneurship, 14(3), 323-344.
  • Rugman, A. M., & Verbeke, A. (2002). Edith Penrose's contribution to the resource‐based view of strategic management. Strategic Management Journal, 23(8), 769-780.
  • Ruiz, J., Camelo, M.C., & Coduras, A. (2012). Mujer y desafío emprendedor en España: características y determinantes. Economía Industrial, 383, 13-22.
  • Sánchez-Cañizares S., & Fuentes-García F. (2013). Gender and entrepreneurship analysis of a young university population. Regional and Sectorial Economic Studies, 13(1), 65-78.
  • Sánchez-Escobedo, M. C. (2011). Análisis del género en las distintas fases del proceso de creación de empresas (Doctoral dissertation, Universidad de Extremadura, Departamento de Economía Financiera y Contabilidad).
  • Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25, 217-226.
  • Storey, D. J., & Tether, B. S. (1998). New technology-based firms in the European Union: an introduction. Research Policy, 26(9), 933-946.
  • Stuart, T., & Ding, W. (2006). The social structural determinants of academic entrepreneurship: an analysis of University Scientists’ participation in commercial ventures. American Journal of Sociology, 112(1), 97-144.
  • Van Gelderen, M., van de Sluis, L., & Jansen, P. (2005). Learning opportunities and learning behaviours of small business starters: relations with goal achievement, skill development and satisfaction. Small Business Economics, 25(1), 97-108.
  • Vázquez-Rozas, E., Gómes, S., & Vieira, E. (2010). Entrepreneurship and economic growth in Spanish and Portuguese regions. Regional and Sectoral Economics Studies, 10(2), 110-126.
  • Venkataraman, S. (2004). Regional transformation through technological entrepreneurship. Journal of Business Venturing, 9(1), 153-167.
  • Vita, L. D., Mari, M., & Poggesi, S. (2014). Women entrepreneurs in and from developing countries: evidences from the literature. European Management Journal, 32(3), 451-460.
  • Welsh,D.H., Memili,E., & Kaciak,E.(2016).An empirical analysis of the impact of family moral support on Turkish women entrepreneurs. Journal of Innovation & Knowledge, 1(1), 3-12.
  • Westhead, P., & Storey, D. J. (1994). An assessment of firms located on and off science parks in the United Kingdom. HMSO, London.
  • Xie, X., & Lv, J. (2016). Social networks of female tech-entrepreneurs and new venture performance: the moderating effects of entrepreneurial alertness and gender discrimination. International Entrepreneurship and Management Journal, 12(4), 963-983.
  • Zapata, G., Fernández, S., Vivel, M., Neira, I., & Rodeiro, D. (2014a). El emprendimiento de base tecnológica: características diferenciales. In Vence, X., & Rodeiro, D. (coord.): Innovación y emprendimiento con base en las ciencias, Servicio de Publicaciones e Intercambio Científico de la Universidad de Santiago de Compostela, Santiago de Compostela, pp. 3-22.
  • Zapata, G., Fernández, S., Neira I., & Nogueira M. (2014b). Factores individuales determinantes del emprendimiento tecnológico: un análisis del caso español en XXIV Jornadas Luso-Espanholas. Gestão Científica. O Contributo da Gestão para a Sustentabilidade das Organizações e da Sociedade. Leiria-Portugal. ISBN: 978-972-8793-66-1.
  • Zapata, G., Fernández, S., & Neira, I. (2014c). El emprendimiento tecnológico en Sudamérica: una aproximación a los determinantes individuales y regionales. VIII Workshop de investigación basada en GEM. Emprender para un territorio próspero. Madrid – España.
  • Zhao, H., Scott, E. S., & Hills, G. E. (2005). The mediating role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265-1272.