Abstract
New technology-based firms (NTBFs) have a significant contribution to economic growth, and in particular to the promotion of innovation and job creation. For this reason, many countries are seeking to establish and grow such institutions using incentive policies. Despite their economic importance, there is no single definition of these companies and several definitions for these types of companies are tailored to the purpose of each study. As for the nature of study, it is important to produce a coherent framework of NTBFs’ characteristics; therefore, the purpose of the present study is to identify the characteristics of NTBFs. For this purpose, the researches that covered the nature of this concept from 1990 to 2011 were analyzed using content analysis. In the first phase, definitions of these companies were compiled; subsequently, effective characteristics were identified to provide a clear nature of these companies. The results of this research led to the identification, confirmation and prioritization of five characteristics, i.e. newness, possessing high-technology, independence, small size in terms of employees and volume of sales, and capital funding by company founders, all of which were prioritized according to the most frequent characteristics in the studied articles. The final result of this study is to guide and streamline future research by achieving theoretical coherence in defining this concept.
Highlights
Evolutions and rapid changes in the international community, moving from a traditional society to the information society, as well as the change of national economies to Technium Social Sciences Journal Vol 3, 94-111, February 2020 ISSN: 2668-7798 www.techniumscience.com the global economy all require different ways of providing the possibility of sustainable economic growth in society (Divsalar and Bozorgi, 2012)
new technology-based firms (NTBFs) is a common term in the economics and management literature and despite the considerable research focused on this concept so far, its definition remains unclear and strongly differs among authors over different times and spaces (Autio, 1997)
In line with the importance of NTBFs in knowledge-based growth and economic development, the authors sought to provide a coherent definition of the concept of NTBFs in this study
Summary
Evolutions and rapid changes in the international community, moving from a traditional society to the information society, as well as the change of national economies to Technium Social Sciences Journal Vol 3, 94-111, February 2020 ISSN: 2668-7798 www.techniumscience.com the global economy all require different ways of providing the possibility of sustainable economic growth in society (Divsalar and Bozorgi, 2012). Achieving and maintaining a high rate of sustainable economic growth is directly related to the capacity of firms and other national players in a country to innovate and develop new technologies, products and industries (Rickne & Jacobsson, 1999). Given this assumption, technological change is a key factor in explaining economic growth (Teixeira, 2012). The main question of this research is, “What are the most important content characteristics NTBFs based on the data and findings of valid and scientific literature published in this area?”
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