IDEAS home Printed from https://ideas.repec.org/p/eti/dpaper/23053.html
   My bibliography  Save this paper

Determinants of Commercialization Modes of Science: Evidence from panel data of university technology transfer in Japan

Author

Listed:
  • FUKUGAWA Nobuya

Abstract

Growth of knowledge-based economies hinges on the systematic application of science, which makes the efficient commercialization of university knowledge critical. Economic theory identifies determinants of the commercialization modes of science (license and entrepreneurship), such as search costs for licensees, post-license development costs, intellectual property ownership, commercialization skills of firms, and the efficiency of innovation intermediaries. Based on this theoretical framework, this study analyzes comprehensive university-level panel data (2018–2021) and presents the first evidence of the factor that most influences the commercialization modes of science. Estimation results reveal that universities that intensively engage in basic research create more university spinoffs. Basic research is conducive to radical innovation which tends to be commercialized by entrepreneurial firms that do not suffer from the replacement effect. Therefore, encouraging a broad range of universities to engage in basic research facilitates academic entrepreneurship, which should have positive implications on economic growth.

Suggested Citation

  • FUKUGAWA Nobuya, 2023. "Determinants of Commercialization Modes of Science: Evidence from panel data of university technology transfer in Japan," Discussion papers 23053, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:dpaper:23053
    as

    Download full text from publisher

    File URL: https://www.rieti.go.jp/jp/publications/dp/23e053.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Heidrun C. Hoppe & Emre Ozdenoren, 2002. "Intermediation in Innovation," CIG Working Papers FS IV 02-11, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    2. Sampat, Bhaven N., 2006. "Patenting and US academic research in the 20th century: The world before and after Bayh-Dole," Research Policy, Elsevier, vol. 35(6), pages 772-789, July.
    3. Paola Giuri & Myriam Mariani & Stefano Brusoni & Gustavo Crespi & Dominique Francoz & Alfonso Gambardella & Walter Garcia-Fontes & Aldo Geuna & Raul Gonzales & Dietmar Harhoff & Karin Hoisl & Christia, 2005. "Everything you Always Wanted to Know about Inventors (but Never Asked): Evidence from the PatVal-EU Survey," LEM Papers Series 2005/20, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Mowery, David C. & Nelson, Richard R. & Sampat, Bhaven N. & Ziedonis, Arvids A., 2001. "The growth of patenting and licensing by U.S. universities: an assessment of the effects of the Bayh-Dole act of 1980," Research Policy, Elsevier, vol. 30(1), pages 99-119, January.
    5. Sampat, Bhaven N. & Mowery, David C. & Ziedonis, Arvids A., 2003. "Changes in university patent quality after the Bayh-Dole act: a re-examination," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1371-1390, November.
    6. ONISHI Koichiro & OWAN Hideo, 2020. "Heterogenous Impacts of National Research Grants on Academic Productivity," Discussion papers 20052, Research Institute of Economy, Trade and Industry (RIETI).
    7. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    8. Nobuya Fukugawa, 2018. "Division of Labor between Innovation Intermediaries for SMEs: Productivity Effects of Interfirm Organizations in Japan," Journal of Small Business Management, Taylor & Francis Journals, vol. 56(S1), pages 297-322, March.
    9. Rebecca Henderson & Adam B. Jaffe & Manuel Trajtenberg, 1998. "Universities As A Source Of Commercial Technology: A Detailed Analysis Of University Patenting, 1965-1988," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 119-127, February.
    10. Cobben, Dieudonnee & Ooms, Ward & Roijakkers, Nadine & Radziwon, Agnieszka, 2022. "Ecosystem types: A systematic review on boundaries and goals," Journal of Business Research, Elsevier, vol. 142(C), pages 138-164.
    11. Hellmann, Thomas, 2007. "The role of patents for bridging the science to market gap," Journal of Economic Behavior & Organization, Elsevier, vol. 63(4), pages 624-647, August.
    12. Thomas Hellmann & Veikko Thiele, 2011. "Incentives and Innovation: A Multitasking Approach," American Economic Journal: Microeconomics, American Economic Association, vol. 3(1), pages 78-128, February.
    13. Paolo Gubitta & Alessandra Tognazzo & Federica Destro, 2016. "Signaling in academic ventures: the role of technology transfer offices and university funds," The Journal of Technology Transfer, Springer, vol. 41(2), pages 368-393, April.
    14. Erika Färnstrand Damsgaard & Marie C. Thursby, 2013. "University entrepreneurship and professor privilege," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(1), pages 183-218, February.
    15. Motohashi, Kazuyuki & Muramatsu, Shingo, 2012. "Examining the university industry collaboration policy in Japan: Patent analysis," Technology in Society, Elsevier, vol. 34(2), pages 149-162.
    16. Gideon D. Markman & Peter T. Gianiodis & Phillip H. Phan & David B. Balkin, 2004. "Entrepreneurship from the Ivory Tower: Do Incentive Systems Matter?," The Journal of Technology Transfer, Springer, vol. 29(3_4), pages 353-364, August.
    17. Wang, Jian & Lee, You-Na & Walsh, John P., 2018. "Funding model and creativity in science: Competitive versus block funding and status contingency effects," Research Policy, Elsevier, vol. 47(6), pages 1070-1083.
    18. Thomas Hellmann, 2007. "When Do Employees Become Entrepreneurs?," Management Science, INFORMS, vol. 53(6), pages 919-933, June.
    19. Finn Valentin & Rasmus Jensen, 2007. "Effects on academia-industry collaboration of extending university property rights," The Journal of Technology Transfer, Springer, vol. 32(3), pages 251-276, June.
    20. David Bruce Audretsch & Maksim Belitski & Nataliia Cherkas, 2021. "Entrepreneurial ecosystems in cities: The role of institutions," PLOS ONE, Public Library of Science, vol. 16(3), pages 1-22, March.
    21. Celestine Chukumba & Richard Jensen, 2005. "University Invention, Entrepreneurship, and Start-Ups," NBER Working Papers 11475, National Bureau of Economic Research, Inc.
    22. Jerry G. Thursby & Marie C. Thursby, 2002. "Who Is Selling the Ivory Tower? Sources of Growth in University Licensing," Management Science, INFORMS, vol. 48(1), pages 90-104, January.
    23. Thursby, Jerry G & Jensen, Richard & Thursby, Marie C, 2001. "Objectives, Characteristics and Outcomes of University Licensing: A Survey of Major U.S. Universities," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 59-72, January.
    24. Donald Siegel & Mike Wright & Wendy Chapple & Andy Lockett, 2008. "Assessing The Relative Performance Of University Technology Transfer In The Us And Uk: A Stochastic Distance Function Approach," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(7-8), pages 717-729.
    25. László Szerb & Raquel Ortega‐Argilés & Zoltan J. Acs & Éva Komlósi, 2020. "Optimizing entrepreneurial development processes for smart specialization in the European Union," Papers in Regional Science, Wiley Blackwell, vol. 99(5), pages 1413-1457, October.
    26. Bradburd, Ralph M & Ross, David R, 1989. "Can Small Firms Find and Defend Strategic Niches? A Test of the Porter Hypothesis," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 258-262, May.
    27. Daron Acemoglu & Ufuk Akcigit & Murat Alp Celik, 2022. "Radical and Incremental Innovation: The Roles of Firms, Managers, and Innovators," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(3), pages 199-249, July.
    Full references (including those not matched with items on IDEAS)

    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. FUKUGAWA Nobuya, 2019. "Determinants and Impacts of Incorporation of Local Public Technology Transfer Organizations: Evidence from Japan's Kohsetsushi," Discussion papers 19095, Research Institute of Economy, Trade and Industry (RIETI).
    2. repec:wip:wpaper:4 is not listed on IDEAS
    3. Nobuya Fukugawa, 2011. "Impacts and channels of university spillovers before the national innovation system reform in Japan," International Journal of Transitions and Innovation Systems, Inderscience Enterprises Ltd, vol. 1(4), pages 383-393.
    4. Pluvia Zuniga, 2011. "The State of Patenting at Research Institutions in Developing Countries: Policy Approaches and Practices," WIPO Economic Research Working Papers 04, World Intellectual Property Organization - Economics and Statistics Division, revised Dec 2011.
    5. Caviggioli, Federico & De Marco, Antonio & Montobbio, Fabio & Ughetto, Elisa, 2020. "The licensing and selling of inventions by US universities," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    6. Arman Yalvac Aksoy & Catherine Beaudry, 2021. "How are companies paying for university research licenses? Empirical evidence from university-firm technology transfer," The Journal of Technology Transfer, Springer, vol. 46(6), pages 2051-2121, December.
    7. Ani Gerbin & Mateja Drnovsek, 2016. "Determinants and public policy implications of academic-industry knowledge transfer in life sciences: a review and a conceptual framework," The Journal of Technology Transfer, Springer, vol. 41(5), pages 979-1076, October.
    8. Catalina Martínez & Valerio Sterzi, 2021. "The impact of the abolishment of the professor’s privilege on European university-owned patents," Industry and Innovation, Taylor & Francis Journals, vol. 28(3), pages 247-282, March.
    9. Riccardo Fini & Kun Fu & Marius Tuft Mathisen & Einar Rasmussen & Mike Wright, 2017. "Institutional determinants of university spin-off quantity and quality: a longitudinal, multilevel, cross-country study," Small Business Economics, Springer, vol. 48(2), pages 361-391, February.
    10. Macho-Stadler, Ines & Perez-Castrillo, David & Veugelers, Reinhilde, 2007. "Licensing of university inventions: The role of a technology transfer office," International Journal of Industrial Organization, Elsevier, vol. 25(3), pages 483-510, June.
    11. Tischler, Joachim & Walter, Sascha, 2014. "Das Patentierverhalten akademischer Gründer nach Abschaffung des Hochschullehrerprivilegs," EconStor Preprints 96157, ZBW - Leibniz Information Centre for Economics.
    12. Brantnell, Anders & Baraldi, Enrico, 2022. "Understanding the roles and involvement of technology transfer offices in the commercialization of university research," Technovation, Elsevier, vol. 115(C).
    13. Amit Shovon Ray & Sabyasachi Saha, "undated". "Patenting Public-Funded Research for Technology Transfer: A Conceptual-Empirical Synthesis of US Evidence and Lessons for India," Indian Council for Research on International Economic Relations, New Delhi Working Papers 244, Indian Council for Research on International Economic Relations, New Delhi, India.
    14. Mei Ho & John Liu & Wen-Min Lu & Chien-Cheng Huang, 2014. "A new perspective to explore the technology transfer efficiencies in US universities," The Journal of Technology Transfer, Springer, vol. 39(2), pages 247-275, April.
    15. Tüzin Baycan & Roger Stough, 2013. "Bridging knowledge to commercialization: the good, the bad, and the challenging," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 50(2), pages 367-405, April.
    16. Christos Kalantaridis & Merle Küttim, 2021. "University ownership and information about the entrepreneurial opportunity in commercialisation: a systematic review and realist synthesis of the literature," The Journal of Technology Transfer, Springer, vol. 46(5), pages 1487-1513, October.
    17. Thursby, Jerry & Fuller, Anne W. & Thursby, Marie, 2009. "US faculty patenting: Inside and outside the university," Research Policy, Elsevier, vol. 38(1), pages 14-25, February.
    18. Julien Pénin, 2009. "On the consequences of university patenting: What can we learn by asking directly to academic inventors?," Working Papers of BETA 2009-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    19. Paula Susana Figueiredo Moutinho & Margarida Fontes & Manuel Mira Godinho, 2007. "Do individual factors matter? A survey of scientists’ patenting in Portuguese public research organisations," Scientometrics, Springer;Akadémiai Kiadó, vol. 70(2), pages 355-377, February.
    20. Crespi, Gustavo & D'Este, Pablo & Fontana, Roberto & Geuna, Aldo, 2011. "The impact of academic patenting on university research and its transfer," Research Policy, Elsevier, vol. 40(1), pages 55-68, February.
    21. Jeremy Foltz & Bradford Barham & Jean-Paul Chavas & Kwansoo Kim, 2012. "Efficiency and technological change at US research universities," Journal of Productivity Analysis, Springer, vol. 37(2), pages 171-186, April.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:eti:dpaper:23053. 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: TANIMOTO, Toko (email available below). General contact details of provider: https://edirc.repec.org/data/rietijp.html .

    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.