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Institutional determinants of university spin-off quantity and quality: a longitudinal, multilevel, cross-country study

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posted on 12.10.2016, 10:10 authored by Riccardo Fini, Kun FuKun Fu, Marius T. Mathisen, Einar Rasmussen, Mike Wright
The creation of spin-off firms from universities is seen as an important mechanism for the commercialization of research, and hence the overall contribution from universities to technological development and economic growth. Governments and universities are seeking to develop framework conditions that are conductive to spin-off creation. The most prevalent of such initiatives are legislative changes at national level and the establishment of technology transfer offices at university level. The effectiveness of such initiatives is debated, but empirical evidence is limited. In this paper, we analyze the full population of universities in Italy, Norway, and the UK; three countries adopting differing approaches to framework conditions, to test whether national- and university-level initiatives have an influence on the number of spin-offs created and the quality of these spin-offs. Building on institutional theory and using multilevel analysis, we find that changes in the institutional framework conditions at both national and university levels are conductive to the creation of more spin-offs, but that the increase in quantity is at the expense of the quality of these firms. Hence, the effect of such top–down changes in framework conditions on the economic impact from universities seems to be more symbolic than substantive.

Funding

TASTE project (FP7-PEOPLE—CIG—MARIE CURIE ACTIONS—#303502) and the Research Council of Norway.

History

School

  • Loughborough University London

Published in

Small Business Economics

Volume

48

Issue

2

Pages

361 - 391

Citation

FINI, R. ... et al, 2017. Institutional determinants of university spin-off quantity and quality: a longitudinal, multilevel, cross-country study. Small Business Economics, 48 (2), pp.361-391.

Publisher

© Springer

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Acceptance date

07/06/2016

Publication date

2016-07-26

Notes

The final publication is available at Springer via http://dx.doi.org/10.1007/s11187-016-9779-9.

ISSN

0921-898X

eISSN

1573-0913

Language

en