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Public Knowledge, Private Knowledge: The Intellectual Capital of Entrepreneurs

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Author Info
Albert Link
Christopher Ruhm

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Abstract

This paper focuses on the innovative actions of entrepreneurs, namely their tendency to reveal the intellectual capital that results from their research efforts either in the form of public knowledge (publications) or private knowledge (patents). Using data collected by the National Research Council within the U.S. National Academies from their survey of firm's that received National Institutes of Health Phase II Small Business Innovation Research awards between 1992 and 2001, we find that entrepreneurs with academic backgrounds are more likely to publish their intellectual capital compared to entrepreneurs with business backgrounds, who are more likely to patent their intellectual capital. We also find that when universities are research partners, their presence complements the tendencies of academic entrepreneurs but does not offset those of business entrepreneurs.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14797.

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Date of creation: Mar 2009
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Handle: RePEc:nbr:nberwo:14797

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Find related papers by JEL classification:
M14 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Corporate Culture; Social Responsibility
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

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  1. Colombo, Massimo G. & Grilli, Luca, 2005. "Founders' human capital and the growth of new technology-based firms: A competence-based view," Research Policy, Elsevier, vol. 34(6), pages 795-816, August. [Downloadable!] (restricted)
  2. Pierre Azoulay & Waverly Ding & Toby Stuart, 2006. "The Impact of Academic Patenting on the Rate, Quality, and Direction of (Public) Research Output," NBER Working Papers 11917, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Geuna, Aldo & Nesta, Lionel J.J., 2006. "University patenting and its effects on academic research: The emerging European evidence," Research Policy, Elsevier, vol. 35(6), pages 790-807, July. [Downloadable!] (restricted)
  4. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October. [Downloadable!] (restricted)
  5. Robert Hébert & Albert Link, 2006. "The Entrepreneur as Innovator," The Journal of Technology Transfer, Springer, vol. 31(5), pages 589-597, 09. [Downloadable!] (restricted)
  6. David Audretsch, 2009. "The entrepreneurial society," The Journal of Technology Transfer, Springer, vol. 34(3), pages 245-254, June. [Downloadable!] (restricted)
  7. Richard N. Langlois & Nicolai J. Foss, 1997. "Capabilities and Governance the Rebirth of Production in the Theory of Economic Organization," DRUID Working Papers 97-2, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
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  8. Stuart, Toby E. & Ozdemir, Salih Zeki & Ding, Waverly W., 2007. "Vertical alliance networks: The case of university-biotechnology-pharmaceutical alliance chains," Research Policy, Elsevier, vol. 36(4), pages 477-498, May. [Downloadable!] (restricted)
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