Commercializing Knowledge: University Science, Knowledge Capture, and Firm Performance in Biotechnology
AbstractCommercializing knowledge involves transfer from discovering scientists to those who will develop it commercially. New codes and formulae describing discoveries develop slowly - with little incentive if value is low and many competing opportunities if high. Hence new knowledge remains naturally excludable and appropriable. Team production allows more knowledge capture of tacit, complex discoveries by firm scientists. A robust indicator of a firm's tacit knowledge capture (and strong predictor of its success) is the number of research articles written jointly by firm scientists and discovering, 'star' scientists, nearly all working at top universities. An operationally attractive generalization of our star measure - collaborative research articles between firm scientists and top research university scientists - replicates the impact on firm success. In panel analyses, publications by firm scientists with stars and/or top-112 university scientists increase the number and citation rate for firm patents. Further, star articles increase these rates significantly more than other top-112 university scientists' articles. Cross-sectional analyses of products and employment show a similar pattern of positive effects on firms' success of collaborations with stars or top university scientists, but estimates of differential effects are non-robust due to multicollinearity. Venture capital funding has significant, usually positive effects on firm success.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8499.
Date of creation: Oct 2001
Date of revision:
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- Lynne G. Zucker & Michael R. Darby & Jeff S. Armstrong, 2003. "Commercializing knowledge: university science, knowledge capture and firm performance in biotechnology," Proceedings, Federal Reserve Bank of Dallas, issue Sep, pages 149-170.
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-01 (All new papers)
- NEP-INO-2001-10-01 (Innovation)
- NEP-TID-2001-10-01 (Technology & Industrial Dynamics)
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.:
- Lynne G. Zucker & Michael R. Darby, 1998.
"Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products,"
NBER Working Papers
6360, National Bureau of Economic Research, Inc.
- Zucker, Lynne G & Darby, Michael R, 2001. " Capturing Technological Opportunity via Japan's Star Scientists: Evidence from Japanese Firms' Biotech Patents and Products," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 37-58, January.
- Klevorick, Alvin K. & Levin, Richard C. & Nelson, Richard R. & Winter, Sidney G., 1995.
"On the sources and significance of interindustry differences in technological opportunities,"
Elsevier, vol. 24(2), pages 185-205, March.
- Alvin K. Klevorick & Richard C. Levin & Richard R. Nelson & Sidney G. Winter, 1993. "On the Sources and Significance of Interindustry Differences in Technological Opportunities," Cowles Foundation Discussion Papers 1052, Cowles Foundation for Research in Economics, Yale University.
- repec:fth:harver:1473 is not listed on IDEAS
- Michael R. Darby & Lynne G. Zucker, 2002. "Going Public When You Can in Biotechnology," NBER Working Papers 8954, National Bureau of Economic Research, Inc.
- Adam B. Jaffe, 1986.
"Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value,"
NBER Working Papers
1815, National Bureau of Economic Research, Inc.
- Jaffe, Adam B, 1986. "Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits, and Market Value," American Economic Review, American Economic Association, vol. 76(5), pages 984-1001, December.
- Gary P. Pisano & Richard M.J. Bohmer & Amy C. Edmondson, 2001. "Organizational Differences in Rates of Learning: Evidence from the Adoption of Minimally Invasive Cardiac Surgery," Management Science, INFORMS, vol. 47(6), pages 752-768, June.
- Jerry G. Thursby & Marie C. Thursby, 2002.
"Who Is Selling the Ivory Tower? Sources of Growth in University Licensing,"
INFORMS, vol. 48(1), pages 90-104, January.
- Jerry G. Thursby & Marie C. Thursby, 2000. "Who is Selling the Ivory Tower? Sources of Growth in University Licensing," NBER Working Papers 7718, National Bureau of Economic Research, Inc.
- Richard Jensen & Marie Thursby, 1998. "Proofs and Prototypes for Sale: The Tale of University Licensing," NBER Working Papers 6698, National Bureau of Economic Research, Inc.
- Zucker, Lynne G & Darby, Michael R & Armstrong, Jeff, 1998. "Geographically Localized Knowledge: Spillovers or Markets?," Economic Inquiry, Western Economic Association International, vol. 36(1), pages 65-86, January.
- Zvi Griliches, 1998.
"Patent Statistics as Economic Indicators: A Survey,"
in: R&D and Productivity: The Econometric Evidence, pages 287-343
National Bureau of Economic Research, Inc.
- Griliches, Zvi, 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1661-1707, December.
- Zvi Griliches, 1991. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
- Richard R. Nelson, 1959. "The Economics of Invention: A Survey of the Literature," The Journal of Business, University of Chicago Press, vol. 32, pages 101.
- Maximo Torero, 2000. "Analyzing the Spillover Mechanism on the Semiconductor Industry in the Silicon Valley and Route 128," Econometric Society World Congress 2000 Contributed Papers 0090, Econometric Society.
- Harberger, Arnold C, 1998. "A Vision of the Growth Process," American Economic Review, American Economic Association, vol. 88(1), pages 1-32, March.
- Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December.
- Stephan, Paula E & Everhart, Stephen S, 1998. " The Changing Rewards to Science: The Case of Biotechnology," Small Business Economics, Springer, vol. 10(2), pages 141-51, March.
- Wooldridge, Jeffrey M., 1991. "On the application of robust, regression- based diagnostics to models of conditional means and conditional variances," Journal of Econometrics, Elsevier, vol. 47(1), pages 5-46, January.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.