Transnational Entrepreneurship as a Win-Win Scenario of International Knowledge Spillover
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Transnational Entrepreneurship as a Win-Win Scenario of International Knowledge Spillover Vanda N. Veréb 1,2 & João J. Ferreira 3
Received: 19 January 2017 / Accepted: 24 July 2017 # Springer Science+Business Media, LLC 2017
Abstract This study aims to advance the common domain of knowledge spillovers (KS) and strategic entrepreneurship (SE) by pinpointing further links between these two fields, and by providing a series of real examples of how KS can be strategically applied for the long-term gain of all parties involved in the KS process. Unlike it is assumed as per the traditional view of the KS literature, there is a win-win scenario benefiting both the knowledge generating, sending and the knowledge reaping, receiving economies. As the main conclusion of this analysis, transnational entrepreneurship (TE) is an example of how international KS can be beneficial for both the incumbent and recipient economies. This benefit is derived from the mobile and multiple-embedded nature of transnational entrepreneurs (TEs) and realised through providing economic, cultural, social and institutional assets to both countries. Keywords Human mobility . Knowledge spillovers . Migrant entrepreneurship . Strategic entrepreneurship . Transnational entrepreneurship
Introduction BIt’s not what you look at that matters, it’s what you see.^ /Henry David Thoreau/. Human mobility has its undisputable benefits. A great example is the USA, where the country’s prosperity has been built on the creativity and entrepreneurial spirit of its * Vanda N. Veréb [email protected] João J. Ferreira [email protected]
1
Research Unit of GAI, University of Minho, Braga, Portugal
2
GOVCOPP, University of Aveiro, Aveiro, Portugal
3
University of Beira Interior & NECE - Research Unit in Business Sciences, Covilhã, Portugal
J Knowl Econ
immigrants (US Chamber of Commerce 2012). Immigrants in the USA have been found to have higher business ownership and formation rates than non-immigrants (U.S. Small Business Administration 2012). This phenomenon could be attributed to the force of survival (Baltar and Icart 2013; Buckley et al. 2002; Lin 2010). However, taking into consideration that 40% of the Fortune 500 companies (American Immigration Council 2014) and also 25.3% of all science and technology firms (US Chamber of Commerce 2012) were founded by the first or second generation of migrants, it can be argued that immigrant entrepreneurs in general (transnational entrepreneurs in particular) have access to significant knowledge and successful entrepreneurial skillset which is Ba key mechanism for enhancing economic development^ (Shane 2005, p. 1), thus are worthy for research. Transnational entrepreneurship (TE), a unique type of migrant entrepreneurship, is a rapidly emerging aspect of international business and a novel field of study in academia (Drori, Honig and Wright 2009). TE involves entrepreneurial activities that are carried out in a cross-national context and initiated by actors, transnational entrepreneurs (TEs), who are embedded in at lea
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