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The effect of science and technology parks on a firm’s performance: a dynamic approach over time Díez Vial, Isabel Fernández Olmos, Marta E32 O18 R58 M13 Geographical concentration Age Industrylife-cycle Growth Innovation Science and technology parks. Desarrollo económico Dinero Economía regional Empresas 5307.03 Modelos y Teorías del desarrollo Económico 5307.04 Estudios del desarrollo Económico 5304.06 Dinero y Operaciones Bancarias 5311 Organización y Dirección de Empresas We argue that the benefits provided by locations inside science and technology parks evolve over time. Firms inside parks can improve performance due to certain advantages related to knowledge spillovers and shared resources that can be particularly useful in earlier stages of the industry life cycle. In these industries, local knowledge sharing is particularly useful because no standards are clearly established, as we have confirmed in a sample of 12,800 firms from the PITEC database, located either on- or off-park. We also find that young firms can benefit more from the park than more established businesses in terms of both business growth and innovative capacity. Although older firms have greater experience and investments that would increase their capacity to absorb external knowledge, their associated rigidities prevent them from incorporating changes into their structures. Ministerio de Ciencia e Innovación (MICINN) Gobierno de Aragón/FEDER Universidad de Zaragoza Universidad Complutense de Madrid Depto. de Organización de Empresas Fac. de Ciencias Económicas y Empresariales TRUE pub 2023-06-17T22:47:59Z 2023-06-17T22:47:59Z 2017 journal article https://hdl.handle.net/20.500.14352/18873 1432-1386 10.1007/s00191-016-0481-5 eng (ECO2015-67122-R, ECO2014-57131-R, ECO2011-29445) COMPETE (S125) UZ2016-SOC-01; (27242) UCM (940376) open access application/pdf Springer Nature