The impact of private ownership, incentives and local development objectives on university technology transfer performance

Belenzon, Sharon and Schankerman, Mark (2007) The impact of private ownership, incentives and local development objectives on university technology transfer performance. CEP Discussion Papers (CEPDP0779). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

We study the impact of private ownership, incentive pay and local development objectives 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. In addition, we show that government constraints on university licensing activity are .costly. in terms of foregone license income and the creation of start-up companies. These results are robust to controls for observed and unobserved heterogeneity.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information:	© 2007 The Author(s)
Divisions:	Centre for Economic Performance
Subjects:	H Social Sciences > HC Economic History and Conditions
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 11:59
Last Modified:	29 Feb 2024 14:18
URI:	http://eprints.lse.ac.uk/id/eprint/3724

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