Harnessing success: determinants of university technology licensing performance

Belenzon, Sharon and Schankerman, Mark ORCID: 0009-0006-1071-7672 (2007) Harnessing success: determinants of university technology licensing performance. . Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.

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Abstract

We study the impact of incentive pay, local development objectives and government constraints on university licensing performance. We develop and test a simple contracting model of technology licensing offices, using new survey information together with panel data on U.S. universities for 1995-99. We find that private universities are much more likely to adopt incentive pay than public ones, but ownership does not affect licensing performance conditional on the use of incentive pay. Adopting incentive pay is associated with about 30-40 percent more income per license. Universities with strong local development objectives generate about 30 percent less income per license, but are more likely to license to local (in-state) startup companies. Stronger government constraints are ‘costly’ in terms of foregone license income and startup activity. These results are robust to controls for observed and unobserved heterogeneity.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://sticerd.lse.ac.uk/
Additional Information:	© 2007 The authors
Divisions:	Economics STICERD
Subjects:	T Technology > T Technology (General) H Social Sciences > HB Economic Theory L Education > L Education (General)
JEL classification:	O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O31 - Innovation and Invention: Processes and Incentives O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O33 - Technological Change: Choices and Consequences; Diffusion Processes O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O32 - Management of Technological Innovation and R&D F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms; International Business
Date Deposited:	05 Mar 2008 11:57
Last Modified:	11 Dec 2024 18:50
URI:	http://eprints.lse.ac.uk/id/eprint/3726

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