Title: On the resilience and the risk spillovers in innovation clusters

Authors: Laura Gudelytė

Addresses: Faculty of Business Management, Department of Financial Engineering, Vilnius Gediminas Technical University, Saulėtekio al. 11, LT-10223 Vilnius, Lithuania

Abstract: In this paper, we provide the determination of systemic risk in a networked structure that appears together with synergistic effect as a result of collaboration in innovation clusters. The interpretation of proposed conceptual model of evaluation of systemic risk can be at least twofold: core-periphery, business entities-R&D institutions, etc. The systemic risk is treated as a generalised risk impacting directly or non-directly the performance of an innovation cluster. The conceptual model of evaluation of systemic risk should be useful for understanding and further treatment of measuring risk in a case of innovation management. Also, the structure and further properties of systemic risk and contagion within innovation cluster are discussed in this paper.

Keywords: contagion; structure of innovation cluster; systemic risk; uncertainty; asymmetry; business; model of evaluation; commercialisation.

DOI: 10.1504/IJEBR.2021.112005

International Journal of Economics and Business Research, 2021 Vol.21 No.1, pp.126 - 142

Received: 10 Sep 2019
Accepted: 10 Apr 2020
Published online: 22 Dec 2020 *

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