Andrea Furlan, "Spinoffs or startups? The effects of spatial agglomeration"
In this paper, published in Industrial and Corporate Change, Andrea Furlan and Giulio Cainelli from the Department of Economics and Management of the University of Padova, investigate the effects of different forms of agglomeration forces on the likelihood of a new venture emerging as a spinoff rather than a startup. Their results show that industry-specific localization economies (captured by industrial district dummy and the number of incumbents at local level) tend to increase the chances of a new venture to emerge as a spinoff. Moreover, local-related variety has a positive and significant effect on the likelihood of a new venture to emerge as a spinoff, especially for those spinoffs from successful parents.