Caloghirou, Y., Protogerou, A., Vonortas, N. S., “Determinants of young firms’ innovative performance: Empirical evidence from Europe”, Research Policy, (2017), Vol. 46(7), pp. 1312-1326

Author Information


  • Aimilia Protogerou¹,
  • Yannis Caloghirou¹,
  • Nicholas S.Vonortas

Author Affiliations: ¹Laboratory of Industrial and Energy Economics, National Technical University of Athens, Heroon Polytechniou 9, str., Zografou Campus, GR 157 80, Athens, Greece

Corresponding author:

  • protoger@chemeng.ntua.gr


This paper explores the effect of diverse firm resources and competences such as founders’ human capital, workforce human capital and acquisition of knowledge from external sources on the innovation performance of young firms. The empirical analysis is based on data from a rich European survey that examined small firms between three and ten years of age across a wide industrial spectrum of knowledge-intensive services and manufacturing sectors in ten countries. The study provides evidence that aspects of both internal factors, especially those encapsulated in the human capital of founders such as prior exposure to R&D, team functional diversity and educational background, and external firm characteristics, such as technology collaborations and networking with universities are important in explaining young firms’ innovative activity.

Article Information

Type of Journal:

Research Policy

Key words:

  • Human capital
  • External knowledge sources
  • Young firms
  • Innovative performance


Site:  here