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How can university technology holding companies bridge the Valley of Death? Evidence from Korea

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  • Son, Hosung
  • Chung, Yanghon
  • Yoon, Sangpil

Abstract

This paper addresses how a technology holding company (THC) affects university inventions crossing the Valley of Death (VoD). A THC, which is a new incubation model, is a specialised organisation for establishing spin-offs as subsidiaries and commercialising university inventions. This study verifies the effects of THCs on the incubation productivity of universities by conducting a propensity-score matching and two-stage data envelopment analysis. The results show that, in the university group with high entrepreneurial orientation, universities with a THC are less productive in the invention stage but more productive in the commercialisation stage than universities without a THC. This demonstrates that THCs decrease productivity in the invention stage by playing the role of a gatekeeper but, in the commercialisation stage, increase productivity by playing the role of a sponsor. In addition, this study finds that the effects of a THC are more significant in universities with high entrepreneurial orientation than in universities with low entrepreneurial orientation. This paper shows that a THC positively affects university spin-offs crossing the VoD by playing different roles in the invention and commercialisation stages.

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  • Son, Hosung & Chung, Yanghon & Yoon, Sangpil, 2022. "How can university technology holding companies bridge the Valley of Death? Evidence from Korea," Technovation, Elsevier, vol. 109(C).
    • Handle: RePEc:eee:techno:v:109:y:2022:i:c:s0166497218305716
    DOI: 10.1016/j.technovation.2020.102158
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    2. Zou, Bo & Guo, Jinyu & Sun, Sunny Li & Guo, Feng, 2023. "Achieving harmony: Social identification in academic entrepreneurs’ role transition," Technovation, Elsevier, vol. 128(C).
    3. Sangpil Yoon & Hosung Son, 2023. "Is the government support programme for nurturing entrepreneurial universities effective? Evidence from Korea," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 1895-1903, June.
    4. Sangpil Yoon & Gyuhyung Kim & Yanghon Chung & Hosung Son, 2023. "Is customer involvement always beneficial for R&D efficiency? The difference between high‐tech and low‐tech industries," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(3), pages 1678-1688, April.
    5. Ma, Ding & Cai, Zhishan & Zhu, Chengkai, 2022. "Technology transfer efficiency of universities in China: A three-stage framework based on the dynamic network slacks-based measurement model," Technology in Society, Elsevier, vol. 70(C).

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