The effect of science parks on company growth: a fsQCA analysis of tenant profile

Abstract

ABSTRACT Science parks (SP) are one of the most common, but controversial, instruments of innovation policies worldwide today. The inconclusive results regarding the benefits provided by SPs suggest that not all companies equally benefit from being located in these innovative environments. The objective of this study is to explore the relationship between a company's characteristics and its capacity to effectively utilise the benefits provided by locating in a SP. Consequently, we aim to identify the most suitable company profile for hosting in SP-type spaces, as well as those companies for which location in an SP does not yield significant advantages. To achieve this goal, a comparative empirical study was conducted on the performance of a sample of 40 on-park companies, compared to a control group of 40 off-park companies. Using the fuzzy sets comparative qualitative analysis (fsQCA) methodology, we identify combinations of variables that define the company's profile and link them to its performance, measured in terms of job growth and sales. Our results suggest that the positive effect of the park on company growth is primarily evident in recently created companies with export capacity. This tenant profile can derive the most significant benefits from establishing themselves in a science park.