This paper investigates the impact of returnee entrepreneurs and their knowledge spillovers on innovation in high-tech firms in China. Using panel data for 1,318 high-tech firms in Beijing Zhongguancun Science Park (ZSP) we find that returnee entrepreneurs create a significant spillover effect that promotes innovation in other local high-tech firms. The extent of this spillover effect is positively moderated by the non-returnee firm's absorptive capacity approximated by the skill level of employees. Multinational enterprises' R&D activities positively affect the innovation intensity of non-returnee firms only when these local firms possess the sufficient level of absorptive capacity. Our findings have important policy and managerial implications for policy-makers and practitioners.

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第19163号 / 経博第517号 / 新制||経||274(附属図書館) / 32155 / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 神事 直人, 教授 柴田 章久, 教授 佐々木 啓明 / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM