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University-Industry Spillovers, Government Funding, and Industrial Consulting

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  • Richard Jensen
  • Jerry Thursby
  • Marie C. Thursby

Abstract

This paper presents a theoretical model of faculty consulting in the context of government and industry funding for research within the university, which then frames an empirical analysis of the funding and consulting of 458 individual faculty inventors from 8 major US universities. In the theory, firms realize that they free ride on government sponsored research of the faculty they hire as consultants and faculty realize their university research projects indirectly benefit from their firm experience. The model accounts for faculty quality, project characteristics, faculty share of license revenue from university research, and the university's research support. Empirically we find that government research funding is positively related to consulting, independent of faculty quality. We find that government and industry funding for university research are strategic complements as well as evidence of the ability of universities to leverage their research infrastructure to attract research funding.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 15732.

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Date of creation: Feb 2010
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Handle: RePEc:nbr:nberwo:15732

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Cited by:
  1. Rentocchini, Francesco & D'Este, Pablo & Manjarrés-Henríquez, Liney & Grimaldi, Rosa, 2014. "The relationship between academic consulting and research performance: Evidence from five Spanish universities," International Journal of Industrial Organization, Elsevier, vol. 32(C), pages 70-83.
  2. Bodas Freitas, Isabel Maria & Geuna, Aldo & Rossi, Federica, 2013. "Finding the right partners: Institutional and personal modes of governance of university–industry interactions," Research Policy, Elsevier, vol. 42(1), pages 50-62.
  3. Suzanne Scotchmer, 2013. "Patents in the University: Priming the Pump and Crowding Out," Journal of Industrial Economics, Wiley Blackwell, vol. 61(3), pages 817-844, 09.
  4. Jerry Thursby & Marie Thursby, 2011. "University-industry linkages in nanotechnology and biotechnology: evidence on collaborative patterns for new methods of inventing," The Journal of Technology Transfer, Springer, vol. 36(6), pages 605-623, December.
  5. Emmanuel Dechenaux & Jerry Thursby & Marie C. Thursby, 2008. "Inventor Moral Hazard in University Licensing: The Role of Contracts," NBER Working Papers 14226, National Bureau of Economic Research, Inc.
  6. Thursby, Jerry G. & Thursby, Marie C., 2011. "Faculty participation in licensing: Implications for research," Research Policy, Elsevier, vol. 40(1), pages 20-29, February.
  7. Aschhoff, Birgit & Grimpe, Christoph, 2012. "Peer effects and academics' industry involvement: The moderating role of age on professional imprinting," ZEW Discussion Papers 12-011, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  8. Wipo, 2011. "World Intellectual Property Report 2011- The Changing Face of Innovation," WIPO Economics & Statistics Series, World Intellectual Property Organization - Economics and Statistics Division, number 2011:944, April.

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