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Generating science-based growth: an econometric analysis of the impact of organizational incentives on university--industry technology transfer

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Author Info
Albert Link
Donald Siegel

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Abstract

In recent years, there has been a rapid rise in commercial knowledge transfers from universities to practitioners or university/industry technology transfer (UITT), via licensing agreements, research joint ventures, and startups. In a previous study in 1999, the authors outlined a production function model to assess the relative efficiency of UITT and conducted field research to identify several organizational factors that could enhance the effectiveness of university management of intellectual property portfolios. This paper extends this framework and evaluates the impact of organizational incentives on the effectiveness of UITT. It is found that universities having more attractive incentive structures for UITT, i.e. those that allocate a higher %age of royalty payments to faculty members, tend to be more efficient in technology transfer activities. University administrators who wish to foster UITT should be mindful of the importance of financial incentives.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal The European Journal of Finance.

Volume (Year): 11 (2005)
Issue (Month): 3 (June)
Pages: 169-181
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Handle: RePEc:taf:eurjfi:v:11:y:2005:i:3:p:169-181

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Related research
Keywords: University/industry technology transfer (UITT); stochastic frontier estimation (SFE); organizational incentives;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Adam B. Jaffe & Manuel Trajtenberg & Rebecca Henderson, 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," NBER Working Papers 3993, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August. [Downloadable!] (restricted)
  3. Battese, G E & Coelli, T J, 1995. "A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data," Empirical Economics, Springer, vol. 20(2), pages 325-32.
  4. John Beath & Robert Owen & Joanna Poyago-Theotoky & David Ulph, 2000. "Optimal Incentives for Income-Generation within Universities," Discussion Paper Series, Department of Economics 0007, Department of Economics, University of St. Andrews.
  5. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July. [Downloadable!] (restricted)
  6. Kumbhakar, Subal C & Ghosh, Soumendra & McGuckin, J Thomas, 1991. "A Generalized Production Frontier Approach for Estimating Determinants of Inefficiency in U.S. Dairy Farms," Journal of Business & Economic Statistics, American Statistical Association, vol. 9(3), pages 279-86, July.
  7. Joanna Poyago-Theotoky & John Beath & Donald S. Siegel, 2002. "Universities and Fundamental Research: Reflections on the Growth of University-Industry Partnership," Discussion Paper Series, Department of Economics 0201, Department of Economics, University of St. Andrews. [Downloadable!]
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  8. Siegel, Donald S. & Waldman, David & Link, Albert, 2003. "Assessing the impact of organizational practices on the relative productivity of university technology transfer offices: an exploratory study," Research Policy, Elsevier, vol. 32(1), pages 27-48, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Phillip H. Phan & Donald S. Siegel, 2006. "The Effectiveness of University Technology Transfer: Lessons Learned from Qualitative and Quantitative Research in the U.S. and U.K," Rensselaer Working Papers in Economics 0609, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
  2. Donald S. Siegel & Phillip H. Phan, 2004. "Analyzing the Effectiveness of University Technology Transfer: Implications for Entrepreneurship Education," Rensselaer Working Papers in Economics 0426, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
  3. Albert N. Link & Donald S. Siegel & Barry Bozeman, 2006. "An Empirical Analysis of the Propensity of Academics to Engage in Informal University Technology Transfer," Rensselaer Working Papers in Economics 0610, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
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