Firm creation in universities: a resource based view
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Published
18-09-2018
David Rodeiro Pazos
Sara Fernández López
Luis Otero González
Alfonso Rodríguez Sandiás
Abstract
Firm creation is used by universities not only to transfer technology to society but also to contribute to the development of the regional economy. However, due to the relatively recent character of the phenomenon of the university spin-offs, the empirical studies are not plentiful on the topic. From a resource based view, this paper analyses what universities' resources have an influence on the spin-off creation. We find that financial and institutional resources are significantly positively associated with university entrepreneurship.
How to Cite
Rodeiro Pazos, D., Fernández López, S., Otero González, L., & Rodríguez Sandiás, A. (2018). Firm creation in universities: a resource based view. Cuadernos De Gestión, 8(2), 11–28. https://doi.org/10.5295/cdg.19116dr
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Keywords
University spin-offs, technology transfer, funding, resource based view
References
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CLARYSSE, B.; WRIGHT, M.; LOCKETT, A.; VAN DE ELDE, E.; VOHORA, A. (2005): «Spinning out new ventures: a typology of incubation strategies from European research institutions», Journal of Business Venturing, Vol. 20, pp. 183–216.
DECLERCQ, G.V. (1981): «A Third Look at the two cultures: The new economic responsability of the university», International Journal of Institutional Management in Higher Education, Vol. 5, N. 2, pp. 117-122.
DEGROOF, J. J.; ROBERTS, E.B. (2004): «Overcoming Weak Entrepreneurial Infrastructures for Academic Spin-Off Ventures», Journal of Technology Transfer, Vol. 29, pp. 327–352.
DI GREGORIO, D.; SHANE, S. (2003): «Why do some universities generate more start-ups than others?», Research Policy, Vol. 32, pp. 209-227.
DJOKOVIC, D.; SOUITARIS, V. (2004): «Spinouts from Academic Institutions: a literature review with suggestions for further research», Working Paper, Cass Business School, UK.
FONTES, M. (2003): «The process of transformation of scientifi c and technological knowledge into economic value conducted by biotechnology spin-offs», Technovation, 25 (4), pp. 339-347.
GOLOB, E. (2003): «Generating spin-offs from University Based Research: The Potential of Technology Transfer», Tesis doctoral, Columbia University.
GONZÁLEZ M. O.; ÁLVAREZ G. J. (2005): «Pautas de creación de spin-offs en las universidades españolas», VII Congreso Nacional de Economía, A Coruña.
GREENE, W. (1998): Análisis Econométrico. 3ª ed., Prentice Hall.
HAIR, J. F.; ANDERSON, R. A.; TATHAM, R. L.; BLACK, W. C. (1998): Análisis Multivariante, 5ª ed., Prentice Hall.
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POWERS, J.; MCDOUGALL, P. (2005): «University start-up formation and technology licensing with firms that go public: a resource based view of academic entrepreneurship», Journal of Business Venturing, Vol. 20(3), pp. 291–311.
ROTHAERMEL, F. T; AGUNG, S. D; JIANG, L, (2006): «University Entrepreneurship: A Taxonomy Of The Literature», 2006 Technology Transfer Society Conference. Atlanta.
S. SHANE, Technology regimes and new fi rm formation, Management Science 47 (2001) (9), pp. 1173–1190.
SHANE, S. (2004): Academic Entrepreneurship: University Spinoffs and Wealth Creation, Edward Elgar.
SIEGEL, D.S.; WALDMAN, D.; ATWATER, L.; LINK, A.N. (2003): «Commercial knowledge transfers from universities to firms: improving the effectiveness of university–industry collaboration», Journal of High Technology Management Research, Vol. 14, pp. 111–133.
VOHORA, A.; WRIGHT, M.; LOCKETT, A., (2004): «Critical junctures in the development of university high-tech spinout companies», Research Policy, Vol. 33, pp. 147–175
WERNERFELT, B. (1995): «The resource-based view of the firm: ten years after», Strategic Management Journal, Vol. 16 (3), pp. 171–174.
WRIGHT, M.; VOHORA, A.; LOCKETT, A. (2004): «The formation of high-tech university spinouts: the role of joint ventures and venture capital investors», Journal of Technology Transfer, Vol. 29 (3–4), pp. 287–310.
ZUCKER, L.; DARBY, M.; BREWER, M. (1998): «Intellectual human capital and the birth of US biotechnology enterprises», American Economic Review, Vol. 88 (1), pp. 290-306.
BLUNDELL, R.; GRIFFITH, R.; VAN REENEN, J. (1995): «Dynamic count data models of technological innovation», Economic Journal, nº. 105, pp. 333-344.
CAMERON, A. C.; TRIVEDI, P. K. (1986): «Econometric Models Based on Count Data: Comparisons and Applications of Some Estimators», Journal of Applied Econometrics, Vol. 1, pp. 29-53.
CAMERON, A.; TRIVEDI, P. (1998): Regression analysis of count data. Cambridge University Press.
CAPLAN, N. (1979): «The Two Communities Theory and Knowledge Utilization», American Behavioral Scientist, Vol. 22, pp. 459-470.
CARAYANNIS, E. G.; ROGERS, E. M.; KURIHARA, K.; ALLBRITTON, M. M. (1998): «High Technology spin-offs From government R&D laboratories and research universities», Technovation, nº. 18 (1), pp. 1-11.
CLARYSSE, B.; WRIGHT, M.; LOCKETT, A.; VAN DE ELDE, E.; VOHORA, A. (2005): «Spinning out new ventures: a typology of incubation strategies from European research institutions», Journal of Business Venturing, Vol. 20, pp. 183–216.
DECLERCQ, G.V. (1981): «A Third Look at the two cultures: The new economic responsability of the university», International Journal of Institutional Management in Higher Education, Vol. 5, N. 2, pp. 117-122.
DEGROOF, J. J.; ROBERTS, E.B. (2004): «Overcoming Weak Entrepreneurial Infrastructures for Academic Spin-Off Ventures», Journal of Technology Transfer, Vol. 29, pp. 327–352.
DI GREGORIO, D.; SHANE, S. (2003): «Why do some universities generate more start-ups than others?», Research Policy, Vol. 32, pp. 209-227.
DJOKOVIC, D.; SOUITARIS, V. (2004): «Spinouts from Academic Institutions: a literature review with suggestions for further research», Working Paper, Cass Business School, UK.
FONTES, M. (2003): «The process of transformation of scientifi c and technological knowledge into economic value conducted by biotechnology spin-offs», Technovation, 25 (4), pp. 339-347.
GOLOB, E. (2003): «Generating spin-offs from University Based Research: The Potential of Technology Transfer», Tesis doctoral, Columbia University.
GONZÁLEZ M. O.; ÁLVAREZ G. J. (2005): «Pautas de creación de spin-offs en las universidades españolas», VII Congreso Nacional de Economía, A Coruña.
GREENE, W. (1998): Análisis Econométrico. 3ª ed., Prentice Hall.
HAIR, J. F.; ANDERSON, R. A.; TATHAM, R. L.; BLACK, W. C. (1998): Análisis Multivariante, 5ª ed., Prentice Hall.
HEIRMAN A.; CLARYSSE B. (2004): «How and why do Research-Based Start-Ups Differ at Founding? A Resource-Based Confi gurational Perspective», Journal of Technology Transfer, Vol. 29, N. 3-4, pp. 247-268.
LANDRY, R.; AMARA, N.; OUIMET, M. (2002): «Research Transfer in Natural Sciences and Engineering: Evidence from Canadian Universities», The 4th Triple Helix Conference, Copenhagen.
LANDRY, R.; RHERRAD, I.; AMARA, N. (2005): «The determinants of university spin-offs: evidence from Canadian universities», The 5th Triple Helix Conference, Turin.
LINK, A.N.; SCOTT, J.T. (2005): «Opening the ivory tower’s door: An analysis of the determinants of the formation of U.S. university spin-off companies», Research Policy, Vol. 34 (7), pp 1106-1112.
LOCKETT, A.; WRIGHT, M. (2005): «Resources, capabilities, risk capital and the creation of university spin-out companies», Research Policy, Vol. 34(7), pp. 1043-1057.
LOCKETT, A.; WRIGHT, M.; FRANKLIN, S. (2003): «Technology transfer and universities, spinout strategies», Small Business Economics, Vol. 20 (2), pp. 185 -200.
LOCKETT, A; WRIGHT, M.; VOHORA, A. (2004): «Resources, capabilities, risk capital and the creation of university spin-out companies», SPRU-Science and Technology Policy Research, University of Sussex documents, disponible en http://www.sussex.ac.uk/spru/documents/wright_lockett_paper.doc (consultado en febrero de 2007).
MONTAÑEZ B. Y. (2006): «Factores condicionantes de la creación de spin-off universitarias: un estudio exploratorio», III Jornada de Pre-comunicaciones a Congresos de Economía y Administración de Empresas, Barcelona.
O’SHEA, R.P.; ALLEN, T.J.; CHEVALIER, A.; ROCHE, F. (2005): «Entrepreneurial orientation, technology transfer and spin-off performance of U.S. universities», Research Policy, Vol. 34 (7), pp. 994-1009.
PENROSE, E. T., (1959): The Theory of the Growth of the Firm. New York: Wiley.
POWERS, J. (2003): «Commercializing academic research: resource effects on performance of university technology transfer», The Journal of Higher Education, nº 74 (1), pp. 26-50.
POWERS, J.; MCDOUGALL, P. (2005): «University start-up formation and technology licensing with firms that go public: a resource based view of academic entrepreneurship», Journal of Business Venturing, Vol. 20(3), pp. 291–311.
ROTHAERMEL, F. T; AGUNG, S. D; JIANG, L, (2006): «University Entrepreneurship: A Taxonomy Of The Literature», 2006 Technology Transfer Society Conference. Atlanta.
S. SHANE, Technology regimes and new fi rm formation, Management Science 47 (2001) (9), pp. 1173–1190.
SHANE, S. (2004): Academic Entrepreneurship: University Spinoffs and Wealth Creation, Edward Elgar.
SIEGEL, D.S.; WALDMAN, D.; ATWATER, L.; LINK, A.N. (2003): «Commercial knowledge transfers from universities to firms: improving the effectiveness of university–industry collaboration», Journal of High Technology Management Research, Vol. 14, pp. 111–133.
VOHORA, A.; WRIGHT, M.; LOCKETT, A., (2004): «Critical junctures in the development of university high-tech spinout companies», Research Policy, Vol. 33, pp. 147–175
WERNERFELT, B. (1995): «The resource-based view of the firm: ten years after», Strategic Management Journal, Vol. 16 (3), pp. 171–174.
WRIGHT, M.; VOHORA, A.; LOCKETT, A. (2004): «The formation of high-tech university spinouts: the role of joint ventures and venture capital investors», Journal of Technology Transfer, Vol. 29 (3–4), pp. 287–310.
ZUCKER, L.; DARBY, M.; BREWER, M. (1998): «Intellectual human capital and the birth of US biotechnology enterprises», American Economic Review, Vol. 88 (1), pp. 290-306.
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