Firm and regional determinants in innovation models: evidence from biotechnology and traditional chemicals

This chapter recombines the two streams of the literature on firm competencies and regional external economies, and compares their relative importance in explaining a research output: the value of innovations. It estimates how much of the value of an innovation is affected by the affiliation of the inventors to the same organization, as opposed to spillovers that arise when the inventors are geographically close to each other and to external sources of knowledge