University spin-offs vs. other NTBFs: Total factor productivity differences at outset and evolution

Autor:	Ferran Vendrell-Herrero, Pedro Ortín-Ángel
Rok vydání:	2014
Předmět:	Dynamic capabilities Spin offs business.industry Endowment General Engineering International trade University spin-offs Empirical research Management of Technology and Innovation Economics Substantive capabilities business Productivity Total factor productivity Industrial organization
Zdroj:	Dipòsit Digital de Documents de la UAB Universitat Autònoma de Barcelona Recercat. Dipósit de la Recerca de Catalunya instname Recercat: Dipósit de la Recerca de Catalunya Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
ISSN:	0166-4972
Popis:	Previous empirical research suggests that university spin-offs under-perform in economic terms compared to other new technology-based firms (NTBFs) in their early years. The usual explanations suggest a lower capabilities endowment of university spin-offs compared to other NTBFs. Using a longitudinal Spanish dataset we compare the evolution of firms' total factor productivity (capabilities endowment) in both kinds of firm. Productivity grew faster in university spin-offs and their initial underperformance disappeared after two or three years of operation. The evidence therefore suggests that university spin-offs have lower initial substantive capabilities but greater dynamic capabilities than independent NTBFs. Possible explanations are discussed.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::2bff3731161478cd68c3521a8b313839 https://doi.org/10.1016/j.technovation.2013.09.006 Zobrazit plný text záznamu Full Text from ScienceDirect