IDEAS home Printed from https://ideas.repec.org/a/kap/jtecht/v47y2022i1d10.1007_s10961-020-09840-3.html
   My bibliography  Save this article

Do company-owned academic patents influence firm performance? Evidence from the Italian industry

Author

Listed:
  • Giovanni Cerulli

    (IRCrES-CNR)

  • Giovanni Marin

    (University of Urbino “Carlo Bo”)

  • Eleonora Pierucci

    (Roma Tre University
    Rossi-Doria Centre
    IRCrES-CNR)

  • Bianca Potì

    (IRCrES-CNR)

Abstract

We document that firms holding academic patents in their portfolios perform better in terms of market power since they benefit from academic knowledge spillovers generated by academic patents. On the other hand, we detect a negative effect on firms’ short-term profitability imputable to a larger fixed cost associated to the acquisition and exploitation of these patents. In terms of policy, our analysis suggests focusing on company-owned academic patents. A set of economic incentives dedicated to university–industry knowledge transfer through academic patents could support integration between basic and applied research.

Suggested Citation

  • Giovanni Cerulli & Giovanni Marin & Eleonora Pierucci & Bianca Potì, 2022. "Do company-owned academic patents influence firm performance? Evidence from the Italian industry," The Journal of Technology Transfer, Springer, vol. 47(1), pages 242-269, February.
    • Handle: RePEc:kap:jtecht:v:47:y:2022:i:1:d:10.1007_s10961-020-09840-3
    DOI: 10.1007/s10961-020-09840-3
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10961-020-09840-3
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10961-020-09840-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Quatraro, Francesco & Scandura, Alessandra, 2019. "Academic Inventors and the Antecedents of Green Technologies. A Regional Analysis of Italian Patent Data," Ecological Economics, Elsevier, vol. 156(C), pages 247-263.
    2. Dirk Czarnitzki & Katrin Hussinger & Cédric Schneider, 2012. "The nexus between science and industry: evidence from faculty inventions," The Journal of Technology Transfer, Springer, vol. 37(5), pages 755-776, October.
    3. Jan De Loecker & Frederic Warzynski, 2012. "Markups and Firm-Level Export Status," American Economic Review, American Economic Association, vol. 102(6), pages 2437-2471, October.
    4. Geuna, Aldo & Rossi, Federica, 2011. "Changes to university IPR regulations in Europe and the impact on academic patenting," Research Policy, Elsevier, vol. 40(8), pages 1068-1076, October.
    5. James G. March, 1991. "Exploration and Exploitation in Organizational Learning," Organization Science, INFORMS, vol. 2(1), pages 71-87, February.
    6. Hagedoorn, John & Link, Albert N. & Vonortas, Nicholas S., 2000. "Research partnerships1," Research Policy, Elsevier, vol. 29(4-5), pages 567-586, April.
    7. Francesco Lissoni & Fabio Montobbio, 2015. "The Ownership of Academic Patents and Their Impact. Evidence from Five European Countries," Revue économique, Presses de Sciences-Po, vol. 66(1), pages 143-171.
    8. Dirk Czarnitzki & Katrin Hussinger & Cédric Schneider, 2009. "Why Challenge the Ivory Tower? New Evidence on the Basicness of Academic Patents," Kyklos, Wiley Blackwell, vol. 62(4), pages 488-499, November.
    9. Francesco Lissoni, 2012. "Academic patenting in Europe: an overview of recent research and new perspectives," Post-Print hal-00779435, HAL.
    10. Wagner, S. & Cockburn, I., 2010. "Patents and the survival of Internet-related IPOs," Research Policy, Elsevier, vol. 39(2), pages 214-228, March.
    11. Sampat, Bhaven N. & Mowery, David C. & Ziedonis, Arvids A., 2003. "Changes in university patent quality after the Bayh-Dole act: a re-examination," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1371-1390, November.
    12. Mansfield, Edwin, 1998. "Academic research and industrial innovation: An update of empirical findings1," Research Policy, Elsevier, vol. 26(7-8), pages 773-776, April.
    13. Riccardo Crescenzi & Andrea Filippetti & Simona Iammarino, 2017. "Academic inventors: collaboration and proximity with industry," The Journal of Technology Transfer, Springer, vol. 42(4), pages 730-762, August.
    14. Beise, Marian & Stahl, Harald, 1999. "Public research and industrial innovations in Germany," Research Policy, Elsevier, vol. 28(4), pages 397-422, April.
    15. Anna Giunta & Filippo M. Pericoli & Eleonora Pierucci, 2016. "University–Industry collaboration in the biopharmaceuticals: the Italian case," The Journal of Technology Transfer, Springer, vol. 41(4), pages 818-840, August.
    16. Bruno Van Pottelsberghe & Eleftherios Sapsalis & Ran Navon, 2006. "Academic vs. industry patenting: an in-depth analysis of what determines patent value," Working Papers CEB 05-008.RS, ULB -- Universite Libre de Bruxelles.
    17. Gustavo Crespi & Aldo Geuna & Onder Nomaler & Bart Verspagen, 2010. "University IPRs and knowledge transfer: is university ownership more efficient?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 19(7), pages 627-648.
    18. Bronwyn H. Hall & Albert N. Link & John T. Scott, 2003. "Universities as Research Partners," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 485-491, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Annamaria Demarinis Loiotile & Francesco De Nicolò & Adriana Agrimi & Loredana Bellantuono & Marianna La Rocca & Alfonso Monaco & Ester Pantaleo & Sabina Tangaro & Nicola Amoroso & Roberto Bellotti, 2022. "Best Practices in Knowledge Transfer: Insights from Top Universities," Sustainability, MDPI, vol. 14(22), pages 1-23, November.
    2. JaeYeon Sim & Kyungmyung Jang, 2023. "Blockchain innovation and firm’s financial performance: patent analysis based on firm-level information," Applied Economics, Taylor & Francis Journals, vol. 55(60), pages 7178-7193, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ugo Rizzo & Nicolò Barbieri & Laura Ramaciotti & Demian Iannantuono, 2020. "The division of labour between academia and industry for the generation of radical inventions," The Journal of Technology Transfer, Springer, vol. 45(2), pages 393-413, April.
    2. Hanne Peeters & Julie Callaert & Bart Looy, 2020. "Do firms profit from involving academics when developing technology?," The Journal of Technology Transfer, Springer, vol. 45(2), pages 494-521, April.
    3. Fabiano, Gianluca & Marcellusi, Andrea & Favato, Giampiero, 2021. "R versus D, from knowledge creation to value appropriation: Ownership of patents filed by European biotechnology founders," Technovation, Elsevier, vol. 108(C).
    4. Dirk Czarnitzki & Katrin Hussinger & Cédric Schneider, 2012. "The nexus between science and industry: evidence from faculty inventions," The Journal of Technology Transfer, Springer, vol. 37(5), pages 755-776, October.
    5. van Burg, Elco & Du, Jingshu & Kers, Jannigje Gerdien, 2021. "When do academics patent outside their university? An in-depth case study," Technovation, Elsevier, vol. 107(C).
    6. Jungpyo Lee & So Young Sohn, 2017. "What makes the first forward citation of a patent occur earlier?," Scientometrics, Springer;Akadémiai Kiadó, vol. 113(1), pages 279-298, October.
    7. Francesco Lissoni & Fabio Montobbio, 2015. "The Ownership of Academic Patents and Their Impact. Evidence from Five European Countries," Revue économique, Presses de Sciences-Po, vol. 66(1), pages 143-171.
    8. Elena M. Tur & Evangelos Bourelos & Maureen McKelvey, 2022. "The case of sleeping beauties in nanotechnology: a study of potential breakthrough inventions in emerging technologies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(3), pages 683-708, December.
    9. Catalina Martínez & Valerio Sterzi, 2021. "The impact of the abolishment of the professor’s privilege on European university-owned patents," Industry and Innovation, Taylor & Francis Journals, vol. 28(3), pages 247-282, March.
    10. Ugo Rizzo & Valerio Sterzi, 2022. "Characterising science-industry patent collaborations: knowledge base, impact and economic value," Working Papers hal-03896633, HAL.
    11. Jong, Simcha & Slavova, Kremena, 2014. "When publications lead to products: The open science conundrum in new product development," Research Policy, Elsevier, vol. 43(4), pages 645-654.
    12. Barbieri, Nicolò & Marzucchi, Alberto & Rizzo, Ugo, 2020. "Knowledge sources and impacts on subsequent inventions: Do green technologies differ from non-green ones?," Research Policy, Elsevier, vol. 49(2).
    13. Sterzi, Valerio, 2011. "Academic patent value and knowledge transfer in the UK. Does patent ownership matter?," MPRA Paper 34955, University Library of Munich, Germany.
    14. Halilem, Norrin & Amara, Nabil & Olmos-Peñuela, Julia & Mohiuddin, Muhammad, 2017. "“To Own, or not to Own?” A multilevel analysis of intellectual property right policies' on academic entrepreneurship," Research Policy, Elsevier, vol. 46(8), pages 1479-1489.
    15. Nicolas Carayol & Valerio Sterzi, 2021. "The transfer and value of academic inventions when the TTO is one option," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(2), pages 338-367, May.
    16. Dornbusch, Friedrich & Neuhäusler, Peter, 2015. "Composition of inventor teams and technological progress – The role of collaboration between academia and industry," Research Policy, Elsevier, vol. 44(7), pages 1360-1375.
    17. Manuel Acosta & Daniel Coronado & Esther Ferrándiz & Manuel Jiménez, 2022. "Effects of knowledge spillovers between competitors on patent quality: what patent citations reveal about a global duopoly," The Journal of Technology Transfer, Springer, vol. 47(5), pages 1451-1487, October.
    18. Francesco Lissoni, 2013. "Intellectual property and university–industry technology transfer," Chapters, in: Faïz Gallouj & Luis Rubalcaba & Paul Windrum (ed.), Public–Private Innovation Networks in Services, chapter 7, pages 164-194, Edward Elgar Publishing.
    19. Foray, Dominique & Lissoni, Francesco, 2010. "University Research and Public–Private Interaction," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 275-314, Elsevier.
    20. Appio, Francesco Paolo & Martini, Antonella & Fantoni, Gualtiero, 2017. "The light and shade of knowledge recombination: Insights from a general-purpose technology," Technological Forecasting and Social Change, Elsevier, vol. 125(C), pages 154-165.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jtecht:v:47:y:2022:i:1:d:10.1007_s10961-020-09840-3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.