The Knowledge Spillover Theory Of Entrepreneurship And Empirical Study

Entrepreneurial activity through the penetration of"knowledge filter"to facilitate the spillover of knowledge. The Knowledge Spillover of Entrepreneurship is not a form of knowledge spillover, but also a mechanism for knowledge spillovers.The existing study of the entrepreneur theory focused on identifying business opportunities and development in decision-making areas. Although the entrepreneur theory considered entrepreneurial opportunities as exogenous, the theory of economic growth thought that opportunities are endogenous. In this paper, we first through theoretical study on the knowledge spillover theory of entrepreneurship to strengthen the micro-economic foundation in the endogenous growth theory, then provide empirical evidence. According to regional panel data from 2001 to 2005, the extended econometric method of AABC is employed along with spatial econometric method to test the effect from new venture creation and incumbent firms.The main conclusions of this paper include: (1)? Entrepreneurs develop knowledge not only by engaging in R&D activities, but also through creating new firms to promote economic growth. (2)? Entrepreneurial activity is not a simple arbitrage behavior, but rather a knowledge development that incumbent enterprises do not have the commercialization of new knowledge. (3) The knowledge generate knowledge spillover endogenously by the activity of incumbent firms and startups. This spillover can induce entrepreneurial opportunity, then be identified and used by entrepreneurs. Entrepreneurial activity is not a simple arbitrage behavior, but incumbent enterprises do not have the commercialization of new knowledge development and utilization of overflow. The effect on penetration of new knowledge from new venture creation is superior method than the incumbent firms.