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Financial performance studies of university spin-off companies (USOs) in the West Midlands

Author

Listed:
  • Peter Jelfs

    (Birkbeck, University of London)

  • Helen Lawton Smith

    (Birkbeck, University of London
    School of Geography and the Environment)

Abstract

Doubts remain over the true impact of university spin-offs (USOs), particularly those created outside elite research universities. This paper examines the financial performance of USOs from a single UK post-industrial region, the West Midlands within the framework of signalling theory. It adds to the existing literature on USO performance at company level, a currently under-represented topic, despite the attention and funding devoted to USOs by UK policymakers. By considering a single region, it brings new insight into the regional context of USOs. Key results of the study are a correlation between research strength of a university and ability of its USOs to attract external finance, but a lack of successful exits across the whole region.

Suggested Citation

  • Peter Jelfs & Helen Lawton Smith, 2021. "Financial performance studies of university spin-off companies (USOs) in the West Midlands," The Journal of Technology Transfer, Springer, vol. 46(6), pages 1949-1972, December.
    • Handle: RePEc:kap:jtecht:v:46:y:2021:i:6:d:10.1007_s10961-020-09835-0
    DOI: 10.1007/s10961-020-09835-0
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    Cited by:

    1. Julian Bafera & Simon Kleinert, 2023. "Signaling Theory in Entrepreneurship Research: A Systematic Review and Research Agenda," Entrepreneurship Theory and Practice, , vol. 47(6), pages 2419-2464, November.

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    More about this item

    Keywords

    University spin-offs; Financial performance; Survival; Regional development; Signalling theory; UK;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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