A New Perspective on the Perceived Benefits of a Science Park Location: Results From an fsQCA Analysis

Abstract

Science Parks (SPs) have become a widely spread mechanism of global innovation. An assessment of SPs generally uses performance indicators, but perceptual measures are also recommended because of their capacity to identify specific objectives more distinctly among different firms. This study explores the relationship between the tenant’s profile and the perceived benefits of being located in a Science Park. The presentation of new evidence on the perceived value of the SP facilities and services would contribute to increasing the effectiveness and overall performance of the SPs and that of their wide range of tenants. An empirical study is conducted on a sample of 29 firms located in the University of Valencia Science Park (PCUV). A Qualitative Comparative Analysis (QCA) is applied to our survey in order to identify various combinations of causal conditions, namely linking the attributes that define the firm’s profile (performance, age and technology level) to different possible perceived benefits of being in a science park. Our results reveal that to be a firm with a relatively low economic performance is a necessary condition for being located in a science park in search of a more fluid access to funding. In addition, we find several combinations of sufficient conditions for each one of the three factors affecting location decisions: proximity to a university, availability of funds, and agglomeration effects.