IDEAS home Printed from https://ideas.repec.org/a/sae/entthe/v33y2009i4p929-947.html
   My bibliography  Save this article

Does One Size Fit All? The Multiple Organizational Forms Leading to Successful Academic Entrepreneurship

Author

Listed:
  • Matthew S. Wood

Abstract

This paper offers an integrative theory, through the use of transaction cost theory principles, that attempts to match the attributes of university–held innovations with the specific organizational form that best supports the identified attributes in innovation commercialization efforts. Two commonly utilized organizational forms are considered: the spin–off and the technology license agreement. Additionally, innovation transfer is conceptualized as a transaction and each of the organizational forms is considered an alternate governance mechanism for the management of the commercialization transaction. It is further conceptualized that by minimizing transaction costs, through the proper selection of the organizational form, universities may increase the odds of successful revenue generation from their entrepreneurial efforts. The overall goal of the paper is to enhance our understanding of proper organizational form–innovation attribute alignment as a key driver of innovation commercialization success, so that universities and their industry partners can increase their effectiveness in commercialization activities.

Suggested Citation

  • Matthew S. Wood, 2009. "Does One Size Fit All? The Multiple Organizational Forms Leading to Successful Academic Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 33(4), pages 929-947, July.
    • Handle: RePEc:sae:entthe:v:33:y:2009:i:4:p:929-947
    DOI: 10.1111/j.1540-6520.2009.00306.x
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1111/j.1540-6520.2009.00306.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1540-6520.2009.00306.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Holmstrom, Bengt, 1989. "Agency costs and innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 12(3), pages 305-327, December.
    2. Fariborz Damanpour & Shanthi Gopalakrishnan, 2001. "The Dynamics of the Adoption of Product and Process Innovations in Organizations," Journal of Management Studies, Wiley Blackwell, vol. 38(1), pages 45-65, January.
    3. Jeffrey J. Reuer & Africa Ariño, 2007. "Strategic alliance contracts: dimensions and determinants of contractual complexity," Strategic Management Journal, Wiley Blackwell, vol. 28(3), pages 313-330, March.
    4. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    5. David J. TEECE, 2008. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," World Scientific Book Chapters, in: The Transfer And Licensing Of Know-How And Intellectual Property Understanding the Multinational Enterprise in the Modern World, chapter 5, pages 67-87, World Scientific Publishing Co. Pte. Ltd..
    6. Etzkowitz, Henry & Webster, Andrew & Gebhardt, Christiane & Terra, Branca Regina Cantisano, 2000. "The future of the university and the university of the future: evolution of ivory tower to entrepreneurial paradigm," Research Policy, Elsevier, vol. 29(2), pages 313-330, February.
    7. Gopalakrishnan, S. & Damanpour, F., 1997. "A review of innovation research in economics, sociology and technology management," Omega, Elsevier, vol. 25(1), pages 15-28, February.
    8. Di Gregorio, Dante & Shane, Scott, 2003. "Why do some universities generate more start-ups than others?," Research Policy, Elsevier, vol. 32(2), pages 209-227, February.
    9. Scott Shane & Toby Stuart, 2002. "Organizational Endowments and the Performance of University Start-ups," Management Science, INFORMS, vol. 48(1), pages 154-170, January.
    10. Udo Zander & Bruce Kogut, 1995. "Knowledge and the Speed of the Transfer and Imitation of Organizational Capabilities: An Empirical Test," Organization Science, INFORMS, vol. 6(1), pages 76-92, February.
    11. Jerry G. Thursby & Marie C. Thursby, 2004. "Are Faculty Critical? Their Role in University–Industry Licensing," Contemporary Economic Policy, Western Economic Association International, vol. 22(2), pages 162-178, April.
    12. YoungJun Kim & Nicholas S. Vonortas, 2006. "Determinants of technology licensing: the case of licensors," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 235-249.
    13. Nerkar, Atul & Shane, Scott, 2003. "When do start-ups that exploit patented academic knowledge survive?," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1391-1410, November.
    14. Ann-Charlotte Fridh & Bo Carlsson, 2002. "special issue: Technology transfer in United States universities," Journal of Evolutionary Economics, Springer, vol. 12(1), pages 199-232.
    15. Holmström, Bengt, 1989. "Agency Costs and Innovation," Working Paper Series 214, Research Institute of Industrial Economics.
    16. Nicos Nicolaou & Sue Birley, 2003. "Social Networks in Organizational Emergence: The University Spinout Phenomenon," Management Science, INFORMS, vol. 49(12), pages 1702-1725, December.
    17. Maryann Feldman & Irwin Feller & Janet Bercovitz & Richard Burton, 2002. "Equity and the Technology Transfer Strategies of American Research Universities," Management Science, INFORMS, vol. 48(1), pages 105-121, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. William R. Meek & Matthew S. Wood, 2016. "Navigating a Sea of Change: Identity Misalignment and Adaptation in Academic Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 40(5), pages 1093-1120, September.
    2. Christopher S. Hayter & Andrew J. Nelson & Stephanie Zayed & Alan C. O’Connor, 2018. "Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature," The Journal of Technology Transfer, Springer, vol. 43(4), pages 1039-1082, August.
    3. Meschnig, Annika & Dubiel, Anna, 2023. "From formation to performance outcomes: A review and agenda for licensing research," Journal of Business Research, Elsevier, vol. 167(C).
    4. Joachim Heinzl & Ah-Lian Kor & Graham Orange & Hans Kaufmann, 2013. "Technology transfer model for Austrian higher education institutions," The Journal of Technology Transfer, Springer, vol. 38(5), pages 607-640, October.
    5. Maribel Guerrero & David Urbano, 2014. "Academics’ start-up intentions and knowledge filters: an individual perspective of the knowledge spillover theory of entrepreneurship," Small Business Economics, Springer, vol. 43(1), pages 57-74, June.
    6. Stefan Marc Hossinger & Xiangyu Chen & Arndt Werner, 2020. "Drivers, barriers and success factors of academic spin-offs: a systematic literature review," Management Review Quarterly, Springer, vol. 70(1), pages 97-134, February.
    7. Wood, Matthew S., 2011. "A process model of academic entrepreneurship," Business Horizons, Elsevier, vol. 54(2), pages 153-161.
    8. Wood, Matthew S., 2011. "A process model of academic entrepreneurship," Business Horizons, Elsevier, vol. 54(2), pages 153-161, March.
    9. David Urbano & Maribel Guerrero, 2013. "Entrepreneurial Universities," Economic Development Quarterly, , vol. 27(1), pages 40-55, February.
    10. Wood Matthew S. & Rowe Jonathan D., 2011. "Nowhere to Run and Nowhere to Hide: The Relationship between Entrepreneurial Success and Feelings of Entrapment," Entrepreneurship Research Journal, De Gruyter, vol. 1(4), pages 1-43, October.
    11. Brown, Austin R. & Wood, Matthew S. & Scheaf, David J., 2022. "Discovery sells, but who’s buying? An empirical investigation of entrepreneurs’ technology license decisions," Journal of Business Research, Elsevier, vol. 144(C), pages 403-415.
    12. Jing Xia & Wei Liu & Sang-Bing Tsai & Guodong Li & Chien-Chi Chu & Kai Wang, 2018. "A System Dynamics Framework for Academic Entrepreneurship," Sustainability, MDPI, vol. 10(7), pages 1-25, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wood, Matthew S., 2011. "A process model of academic entrepreneurship," Business Horizons, Elsevier, vol. 54(2), pages 153-161.
    2. Wood, Matthew S., 2011. "A process model of academic entrepreneurship," Business Horizons, Elsevier, vol. 54(2), pages 153-161, March.
    3. Dirk Czarnitzki & Christian Rammer & Andrew Toole, 2014. "University spin-offs and the “performance premium”," Small Business Economics, Springer, vol. 43(2), pages 309-326, August.
    4. Agarwal, Rajshree & Shah, Sonali K., 2014. "Knowledge sources of entrepreneurship: Firm formation by academic, user and employee innovators," Research Policy, Elsevier, vol. 43(7), pages 1109-1133.
    5. Djordje Djokovic & Vangelis Souitaris, 2008. "Spinouts from academic institutions: a literature review with suggestions for further research," The Journal of Technology Transfer, Springer, vol. 33(3), pages 225-247, June.
    6. Nerkar, Atul & Shane, Scott, 2003. "When do start-ups that exploit patented academic knowledge survive?," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1391-1410, November.
    7. Foray, Dominique & Lissoni, Francesco, 2010. "University Research and Public–Private Interaction," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 275-314, Elsevier.
    8. Christopher S. Hayter, 2013. "Harnessing University Entrepreneurship for Economic Growth," Economic Development Quarterly, , vol. 27(1), pages 18-28, February.
    9. Katalin Erdős & Attila Varga, 2012. "The Academic Entrepreneur: Myth or Reality for Increased Regional growth in Europe?," Chapters, in: Marina van Geenhuizen & Peter Nijkamp (ed.), Creative Knowledge Cities, chapter 7, Edward Elgar Publishing.
    10. Landry, Rejean & Amara, Nabil & Rherrad, Imad, 2006. "Why are some university researchers more likely to create spin-offs than others? Evidence from Canadian universities," Research Policy, Elsevier, vol. 35(10), pages 1599-1615, December.
    11. Nicos Savva & Niyazi Taneri, 2015. "The Role of Equity, Royalty, and Fixed Fees in Technology Licensing to University Spin-Offs," Management Science, INFORMS, vol. 61(6), pages 1323-1343, June.
    12. Eckhardt, Jonathan T. & Shane, Scott A., 2011. "Industry changes in technology and complementary assets and the creation of high-growth firms," Journal of Business Venturing, Elsevier, vol. 26(4), pages 412-430, July.
    13. Fischer, Bruno Brandão & Moraes, Gustavo Hermínio Salati Marcondes de & Schaeffer, Paola Rücker, 2019. "Universities' institutional settings and academic entrepreneurship: Notes from a developing country," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 243-252.
    14. Giuseppe Criaco & Tommaso Minola & Pablo Migliorini & Christian Serarols-Tarrés, 2014. "“To have and have not”: founders’ human capital and university start-up survival," The Journal of Technology Transfer, Springer, vol. 39(4), pages 567-593, August.
    15. Narayanan, V.K. & Yang, Yi & Zahra, Shaker A., 2009. "Corporate venturing and value creation: A review and proposed framework," Research Policy, Elsevier, vol. 38(1), pages 58-76, February.
    16. Powers, Joshua B. & McDougall, Patricia, 2005. "Policy orientation effects on performance with licensing to start-ups and small companies," Research Policy, Elsevier, vol. 34(7), pages 1028-1042, September.
    17. Christopher S. Hayter & Andrew J. Nelson & Stephanie Zayed & Alan C. O’Connor, 2018. "Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature," The Journal of Technology Transfer, Springer, vol. 43(4), pages 1039-1082, August.
    18. Bharat Rao & Bala Mulloth, 2017. "The Role of Universities in Encouraging Growth of Technology-Based New Ventures," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(04), pages 1-22, August.
    19. Einar Rasmussen & Mike Wright, 2015. "How can universities facilitate academic spin-offs? An entrepreneurial competency perspective," The Journal of Technology Transfer, Springer, vol. 40(5), pages 782-799, October.
    20. Jue Wang & Philip Shapira, 2012. "Partnering with universities: a good choice for nanotechnology start-up firms?," Small Business Economics, Springer, vol. 38(2), pages 197-215, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:entthe:v:33:y:2009:i:4:p:929-947. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.