Agglomeration, knowledge spillovers, and corporate investment

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dc.coverageDOI: 10.1016/j.jcorpfin.2022.102289
dc.creatorGrieser, William
dc.creatorMaturana, Gonzalo
dc.creatorSpyridopoulos, Ioannis
dc.creatorTruffa, Santiago
dc.date2022
dc.date.accessioned05-01-2026 18:09
dc.date.available05-01-2026 18:09
dc.description<p>Agglomeration is positively correlated with productivity and exhibits substantial heterogeneity across industries. Yet, the connection between agglomeration and corporate investment, an important driver of production, remains relatively underexplored. We study this relation using counterfactuals that account for the empirical distribution of industry size and firm locations, and by employing network methods that exploit firm geographic location and patent citation connections. We find a strong positive relation between industry peers’ proximity, investment externalities, uncertainty, and knowledge capital. Collectively, our evidence supports the notion that knowledge spillovers generate positive investment externalities that drive firm location decisions and explain industry-level agglomeration patterns.</p>eng
dc.identifierhttps://investigadores.uandes.cl/en/publications/def1df37-ab0f-4068-8cfb-014aa26b7832
dc.languageeng
dc.rightsinfo:eu-repo/semantics/restrictedAccess
dc.sourcevol.77 (2022)
dc.subjectAgglomeration
dc.subjectIndustrial clustering
dc.subjectInnovation
dc.subjectInvestment
dc.subjectKnowledge spillovers
dc.subjectR&D
dc.subjectSDG 9 - Industry, Innovation, and Infrastructure
dc.titleAgglomeration, knowledge spillovers, and corporate investmenteng
dc.typeArticleeng
dc.typeArtículospa
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