Institutional Factors Affecting Faculty Startups and Their Performance in Korea: A Panel Data Analysis
0
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
This paper adopts a resource-based approach to analyze why some universities have a greater number of faculty startups, and how this impacts on performance, in terms of indictors such as the number of employees and revenue sales. More specifically, we propose 9 hypotheses which link institutional resources to faculty startups and their performance, and compare 5 different groups of university resources for cross-college variation, using data from 134 South Korean four-year universities from 2017 to 2020. We find that the institutional factors impacting on performance of faculty startups differ from other categories of startups. The results show that it is important for universities to provide a more favorable environment, incorporating more flexible personnel policies and accompanying startup support infrastructure, for faculty startups, whilest it is more effective to have more financial resources and intellectual property for other categories of startups. Our findings also indicate that university technology-holding company and technology transfer programs are crucial to increase the number of faculty startups and their performance. Our analysis results have implications for both university and government policy-makers, endeavoring to facilitate higher particaption of professors in startup formation and ultimate commercialization of associated teachnologies.
Abstract
This paper adopts a resource-based approach to analyze why some universities have a greater number of faculty startups, and how this impacts on performance, in terms of indictors such as the number of employees and revenue sales. More specifically, we propose 9 hypotheses which link institutional resources to faculty startups and their performance, and compare 5 different groups of university resources for cross-college variation, using data from 134 South Korean four-year universities from 2017 to 2020. We find that the institutional factors impacting on performance of faculty startups differ from other categories of startups. The results show that it is important for universities to provide a more favorable environment, incorporating more flexible personnel policies and accompanying startup support infrastructure, for faculty startups, whilest it is more effective to have more financial resources and intellectual property for other categories of startups. Our findings also indicate that university technology-holding company and technology transfer programs are crucial to increase the number of faculty startups and their performance. Our analysis results have implications for both university and government policy-makers, endeavoring to facilitate higher particaption of professors in startup formation and ultimate commercialization of associated teachnologies.
참고문헌 (35)
- Ahlstrom, D., "Venture Capital in Emerging Economies : Networks and Institutional Change", Entrepreneurship Theory and Practice, 30(2), pp.299~320 (2006)
- Cho, H., "An Analysis on Factors Affecting University Technology Commercialization", Intellectual Property Research, 7(3), pp.217~245 (2012)
- Choi, D. S., "How Does Technology Startups Increase Innovative Performance? The Study of Technology Startups on Innovation Focusing on Employment Change in Korea", Sustainability, 12(2), pp.551~570 (2020)
- "University Invention, Entrepreneurship, and Start-ups" (2005)[URL]
- Dahl, M. S., "The Who, Why, and How of Spinoffs", Industrial and Corporate Change, 23(3), pp.661~688 (2013)
- Di Gregorio, D., "Why Do Some Universities Generate More Start-ups Than Others?", Research policy, 32(2), pp.209~227 (2003)
- Etzkowitz, H., "The Norms of Entrepreneurial Science : Cognitive Effects of the New University-industry Linkage’s", Research Policy, 27(8), pp.823~833 (1998)
- Friedmand, J., "University Technology Transfer : Do Incentives, Management, and Location Matter?", The Journal of Technology Transfer, 28(1), pp.17~30 (2003)
- Demand vs. Supply Driven Innovations: US and Swedish Experiences in Academic Entrepreneurship, "Goldfarb, B.", SSE, 2001, Working Paper Series in Economics and Finance, 436
- Grimaldi, R., "30 Years After Bayh-Dole : Reassessing Academic Entrepreneurship", Research policy, 40(8), pp.1045~1057 (2011)
- Henrekson, M., "Designing Efficient Institutions for Science-based Entrepreneurship : Lesson from the US and Sweden", The Journal of Technology Transfer, 26(3), pp.207~231 (2001)
- "Challenges to Technology Transfer: A Literature Review of the Constraints on Environmental Technology Dissemination" (2009)[URL]
- "Career Experiences and Firm Foundings" (2000)[URL]
- Kim, Y., "Factors on University’s Knowledge-based Startups, Focusing on University’s Patents", Intellectual Property Research, 11(1), pp.163~196 (2016)
- Levin, S. G., "Research Productivity Over the Life Cycle: Evidence for Academic Scientists", The American Economic Review, pp.114~132 (1991)
- Lim, H., "Analysis of Factors Influencing Entrepreneurial Performance at the University Level for Becoming Entrepreneurial Universities", Asia-Pacific Journal of Business Ventureing and Entrepreneurship, 15(2), pp.19~32 (2023)
- Lockett, A., "Resources, Capabilities, Risk Capital and the Creation of University Spin-out Companies", Research Policy, 34(7), pp.1043~1057 (2005)
- Lockett, A., "The Development of the Resource-based View of the Firm : A Critical Appraisal", International Journal of Management Reviews, 11(1), pp.9~28 (2009)
- Lowe, R. A., "Who Develops a University Invention? The Impact of Tacit Knowledge and Licensing Policies", Journal of Technology Transfer, 31(4), pp.415~429 (2006)
- Report on University-Industry Collaborations, "Ministry of Education of the Korean Government", ~ (2019)
- Newbert, S. L., "Empirical Research on the Resource-based View of the Firm : An Assessment and Suggestions for Future Research", Strategic Management Journal, 28(2), pp.121~146 (2007)
- O’shea, R. P., "Entrepreneurial Orientation, Technology Transfer and Spinoff Performance of US Universities", Research policy, 34(7), pp.994~1009 (2005)
- Roberts, E. B., "Entrepreneurs in High Technology: Lessons from MIT and Beyond" (1991), Oxford University Press
- Rothaermel, F. T., "University Entrepreneurship : a Taxonomy of the Literature", Industrial and Corporate Change, 16(4), pp.691~791 (2007)
- Shane, S., "Technological Opportunities and New Firm Creation", Management Science, 47(2), pp.205~220 (2001)
- Shane, S., "Selling university technology : Patterns from MIT", Management science, 48(1), pp.122~137 (2002)
- Shane, S., "Organizational endowments and the performance of university start-ups", Management science, 48(1), pp.154~170 (2002)
- Showalter, D., "University Startup Intensity and Faculty Quality", Economic Inquiry, 57(2), pp.855~875 (2019)
- Siegel, D. S., "Academic entrepreneurship : time for a rethink?", British journal of management, 26(4), pp.582~595 (2015)
- Walter, S. G., "Who Becomes an Entrepreneur? A 30-years-review of Individual-level Research", Journal of Small Business and Enterprise Development, 22(2), pp.225~248 (2015)
- Wernerfelt, B., "A Resource-based View of the Firm", Strategic Management Journal, 5(2), pp.171~180 (1984)
- Zucker, L. G., "Geographically Localized Knowledge : Spillovers or Markets?", Economic Inquiry, 36(1), pp.65~86 (1998)