The location choice of technology-based firms: a stated choice experiment of science park alternatives

Research output: Contribution to conferenceAbstractAcademic

Abstract

Technology development is increasingly important for creating efficient and sustainable economies. One of the innovation policies are science parks, area developments where technology-based firms and knowledge-based institutions co-locate. Preferences of technology-based firms relate to the presence and quality of certain facilities, services, and location attributes, which are means for achieving organizational goals. As science parks are locations that generally offer a mix of such facilities and services, it can be configured in numerous ways. The gap between what science parks offer and what tenants need has been acknowledged as troublesome by science park managers and tenants as this gap can negatively influence the performance of science parks and their tenants. Therefore, this study focuses on the preferences of technology-based firms in relation to science park attributes and if different target groups can be distinguished from these preferences. To collect data about preferences, an online survey is distributed among technology-based firms both on and off science parks in the Netherlands. Using the technique of stated-choice experiments, decision-makers of technology-based firms (i.e. CEOs) are presented carefully designed hypothetical science-park locations and asked to indicate which location they would prefer if they would relocate. In the experimental design used, each hypothetical location consists of seven attributes each with three levels. The choice data allows for estimating the preference values for the different levels of each attribute, while taking into account the respondent’s current situation, using a discrete choice model as framework (a latent class model). This research provides insights on which science park attributes are desirable for technology-based firms and how much firms are willing-to-pay for particular attributes. Furthermore, differences in preferences between distinct target groups among technology-based firms are analyzed. For practice, the insights allow management of science parks to better adapt services and location characteristics to demands of the target groups of interest.
Original languageEnglish
Publication statusPublished - 2019
Event26th Annual Conference of the European Real Estate Society (ERES2019) - Cergy-Pontoise Cedex, France
Duration: 3 Jul 20196 Jul 2019
Conference number: 26
https://www.eres.org/index.php/annual-conferences

Conference

Conference26th Annual Conference of the European Real Estate Society (ERES2019)
Abbreviated titleERES2019
CountryFrance
CityCergy-Pontoise Cedex
Period3/07/196/07/19
Internet address

Fingerprint

Technology-based firms
Science parks
Stated choice
Choice experiment
Location choice
Online survey
Technology development
Latent class model
The Netherlands
Decision maker
Experimental design
Discrete choice models
Innovation policy
Group technology
Chief executive officer
Managers
Knowledge-based

Cite this

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title = "The location choice of technology-based firms: a stated choice experiment of science park alternatives",
abstract = "Technology development is increasingly important for creating efficient and sustainable economies. One of the innovation policies are science parks, area developments where technology-based firms and knowledge-based institutions co-locate. Preferences of technology-based firms relate to the presence and quality of certain facilities, services, and location attributes, which are means for achieving organizational goals. As science parks are locations that generally offer a mix of such facilities and services, it can be configured in numerous ways. The gap between what science parks offer and what tenants need has been acknowledged as troublesome by science park managers and tenants as this gap can negatively influence the performance of science parks and their tenants. Therefore, this study focuses on the preferences of technology-based firms in relation to science park attributes and if different target groups can be distinguished from these preferences. To collect data about preferences, an online survey is distributed among technology-based firms both on and off science parks in the Netherlands. Using the technique of stated-choice experiments, decision-makers of technology-based firms (i.e. CEOs) are presented carefully designed hypothetical science-park locations and asked to indicate which location they would prefer if they would relocate. In the experimental design used, each hypothetical location consists of seven attributes each with three levels. The choice data allows for estimating the preference values for the different levels of each attribute, while taking into account the respondent’s current situation, using a discrete choice model as framework (a latent class model). This research provides insights on which science park attributes are desirable for technology-based firms and how much firms are willing-to-pay for particular attributes. Furthermore, differences in preferences between distinct target groups among technology-based firms are analyzed. For practice, the insights allow management of science parks to better adapt services and location characteristics to demands of the target groups of interest.",
author = "Ng, {W.K.B. (Benny)} and Appel-Meulenbroek, {H.A.J.A. (Rianne)} and Cloodt, {Myriam M.A.H.} and Arentze, {Theo A.}",
year = "2019",
language = "English",
note = "26th Annual Conference of the European Real Estate Society (ERES2019), ERES2019 ; Conference date: 03-07-2019 Through 06-07-2019",
url = "https://www.eres.org/index.php/annual-conferences",

}

Ng, WKBB, Appel-Meulenbroek, HAJAR, Cloodt, MMAH & Arentze, TA 2019, 'The location choice of technology-based firms: a stated choice experiment of science park alternatives', 26th Annual Conference of the European Real Estate Society (ERES2019), Cergy-Pontoise Cedex, France, 3/07/19 - 6/07/19.

The location choice of technology-based firms : a stated choice experiment of science park alternatives. / Ng, W.K.B. (Benny); Appel-Meulenbroek, H.A.J.A. (Rianne); Cloodt, Myriam M.A.H.; Arentze, Theo A.

2019. Abstract from 26th Annual Conference of the European Real Estate Society (ERES2019), Cergy-Pontoise Cedex, France.

Research output: Contribution to conferenceAbstractAcademic

TY - CONF

T1 - The location choice of technology-based firms

T2 - a stated choice experiment of science park alternatives

AU - Ng, W.K.B. (Benny)

AU - Appel-Meulenbroek, H.A.J.A. (Rianne)

AU - Cloodt, Myriam M.A.H.

AU - Arentze, Theo A.

PY - 2019

Y1 - 2019

N2 - Technology development is increasingly important for creating efficient and sustainable economies. One of the innovation policies are science parks, area developments where technology-based firms and knowledge-based institutions co-locate. Preferences of technology-based firms relate to the presence and quality of certain facilities, services, and location attributes, which are means for achieving organizational goals. As science parks are locations that generally offer a mix of such facilities and services, it can be configured in numerous ways. The gap between what science parks offer and what tenants need has been acknowledged as troublesome by science park managers and tenants as this gap can negatively influence the performance of science parks and their tenants. Therefore, this study focuses on the preferences of technology-based firms in relation to science park attributes and if different target groups can be distinguished from these preferences. To collect data about preferences, an online survey is distributed among technology-based firms both on and off science parks in the Netherlands. Using the technique of stated-choice experiments, decision-makers of technology-based firms (i.e. CEOs) are presented carefully designed hypothetical science-park locations and asked to indicate which location they would prefer if they would relocate. In the experimental design used, each hypothetical location consists of seven attributes each with three levels. The choice data allows for estimating the preference values for the different levels of each attribute, while taking into account the respondent’s current situation, using a discrete choice model as framework (a latent class model). This research provides insights on which science park attributes are desirable for technology-based firms and how much firms are willing-to-pay for particular attributes. Furthermore, differences in preferences between distinct target groups among technology-based firms are analyzed. For practice, the insights allow management of science parks to better adapt services and location characteristics to demands of the target groups of interest.

AB - Technology development is increasingly important for creating efficient and sustainable economies. One of the innovation policies are science parks, area developments where technology-based firms and knowledge-based institutions co-locate. Preferences of technology-based firms relate to the presence and quality of certain facilities, services, and location attributes, which are means for achieving organizational goals. As science parks are locations that generally offer a mix of such facilities and services, it can be configured in numerous ways. The gap between what science parks offer and what tenants need has been acknowledged as troublesome by science park managers and tenants as this gap can negatively influence the performance of science parks and their tenants. Therefore, this study focuses on the preferences of technology-based firms in relation to science park attributes and if different target groups can be distinguished from these preferences. To collect data about preferences, an online survey is distributed among technology-based firms both on and off science parks in the Netherlands. Using the technique of stated-choice experiments, decision-makers of technology-based firms (i.e. CEOs) are presented carefully designed hypothetical science-park locations and asked to indicate which location they would prefer if they would relocate. In the experimental design used, each hypothetical location consists of seven attributes each with three levels. The choice data allows for estimating the preference values for the different levels of each attribute, while taking into account the respondent’s current situation, using a discrete choice model as framework (a latent class model). This research provides insights on which science park attributes are desirable for technology-based firms and how much firms are willing-to-pay for particular attributes. Furthermore, differences in preferences between distinct target groups among technology-based firms are analyzed. For practice, the insights allow management of science parks to better adapt services and location characteristics to demands of the target groups of interest.

M3 - Abstract

ER -

Ng WKBB, Appel-Meulenbroek HAJAR, Cloodt MMAH, Arentze TA. The location choice of technology-based firms: a stated choice experiment of science park alternatives. 2019. Abstract from 26th Annual Conference of the European Real Estate Society (ERES2019), Cergy-Pontoise Cedex, France.