University spinoffs and the "performance premium"


Czarnitzki, Dirk ; Rammer, Christian ; Toole, Andrew A.


[img]
Preview
PDF
dp13004.pdf - Published

Download (190kB)

URL: https://ub-madoc.bib.uni-mannheim.de/33011
URN: urn:nbn:de:bsz:180-madoc-330119
Document Type: Working paper
Year of publication: 2013
The title of a journal, publication series: ZEW Discussion Papers
Volume: 13-004
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: L25 , L26 , J24,
Subject headings (SWD): 394681967
Keywords (English): Academic entrepreneurship , startups , firm performance , technology transfer , open science , university spinoff policy , human capital , social capital
Abstract: The creation of spinoff companies is often promoted as a desirable mechanism for transferring knowledge and technologies from research organizations to the private sector for commercialization. In the promotion process, policymakers typically treat these “university” spinoffs like industry startups. However, when university spinoffs involve an employment transition by a researcher out of the not-for-profit sector, the creation of a university spinoff is likely to impose a higher social cost than the creation of an industry startup. To offset this higher social cost, university spinoffs must produce a larger stream of social benefits than industry startups, a performance premium. This paper outlines the arguments why the social costs of entrepreneurship are likely to be higher for academic entrepreneurs and empirically investigates the existence of a performance premium using a sample of German startup companies. We find that university spinoffs exhibit a performance premium of 3.4 percentage points higher employment growth over industry startups. The analysis also shows that the performance premium varies across types of academic entrepreneurs and founders’ academic disciplines.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




+ Citation Example and Export

Czarnitzki, Dirk ; Rammer, Christian ; Toole, Andrew A. (2013) University spinoffs and the "performance premium". Open Access ZEW Discussion Papers Mannheim 13-004 [Working paper]
[img]
Preview


+ Search Authors in

+ Download Statistics

Downloads per month over past year

View more statistics



You have found an error? Please let us know about your desired correction here: E-Mail


Actions (login required)

Show item Show item