The Anchor Tenant Hypothesis: Exploring the Role of Large, Local, R&D-Intensive Firms in Regional Innovation Systems

27 Pages Posted: 27 Apr 2007

See all articles by Ajay Agrawal

Ajay Agrawal

University of Toronto - Rotman School of Management; National Bureau of Economic Research (NBER)

Iain M. Cockburn

Boston University Questrom School of Business; National Bureau of Economic Research (NBER)

Abstract

We examine the geographic co-location of university research and industrial R&D in three technology areas. While we find strong evidence of co-location of these vertically connected activities, regional economies appear to vary markedly in their ability to convert local academic research into local commercial innovation. We develop and test the hypothesis that the presence of a large, local, R&D-intensive firm—an anchor tenant—enhances the regional innovation system such that local university research is more likely to be absorbed by and to stimulate local industrial R&D.

Keywords: Regional innovation systems, University technology transfer, Spillovers, Absorptive

JEL Classification: O18, O31, O33, L1

Suggested Citation

Agrawal, Ajay and Cockburn, Iain M., The Anchor Tenant Hypothesis: Exploring the Role of Large, Local, R&D-Intensive Firms in Regional Innovation Systems. International Journal of Industrial Organization, Vol. 21, pp. 1227-1253, 2003. Available at SSRN: https://ssrn.com/abstract=982667

Ajay Agrawal (Contact Author)

University of Toronto - Rotman School of Management ( email )

105 St. George Street
Toronto, Ontario M5S 3E6 M5S1S4
Canada

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Iain M. Cockburn

Boston University Questrom School of Business ( email )

595 Commonwealth Avenue
Boston, MA MA 02215
United States
617-353-3775 (Phone)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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