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Human capital and successful academic spin-off

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  • Müller, Bettina

Abstract

Academic spin-offs are one way in which employability of university graduates is reflected. Using the ZEW spinoff-survey, this paper studies empirically the impact of human capital on the success of academic spinoffs founding in knowledge and technology intensive sectors. The focus is thereby on the composition of human capital which is described according to whether or not the founders have studied several subjects and whether or not they all come from the same research establishment. Additionally the impact of having founded as a team is analyzed. Success is measured by employment growth. The findings suggest that it is advantageous to found within a team, but that the human capital composition both for single entrepreneurs and team foundations is rather irrelevant.

Suggested Citation

  • Müller, Bettina, 2006. "Human capital and successful academic spin-off," ZEW Discussion Papers 06-081, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:5474
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    File URL: https://www.econstor.eu/bitstream/10419/24536/1/dp06081.pdf
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    References listed on IDEAS

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    1. Michael Kremer, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 551-575.
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    3. Cressy, Robert, 1996. "Are Business Startups Debt-Rationed?," Economic Journal, Royal Economic Society, vol. 106(438), pages 1253-1270, September.
    4. Edward P. Lazear, 2005. "Entrepreneurship," Journal of Labor Economics, University of Chicago Press, vol. 23(4), pages 649-680, October.
    5. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-670, May.
    6. Cooper, Arnold C. & Bruno, Albert V., 1977. "Success among high-technology firms," Business Horizons, Elsevier, vol. 20(2), pages 16-22, April.
    7. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-559, November.
    8. Prantl, Susanne, 2003. "Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification," ZEW Discussion Papers 03-72, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    9. Oliver Fabel, 2004. "Spinoffs of Entrepreneurial Firms: An O-Ring Approach," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 416-416, September.
    10. Cooper, Arnold C. & Gimeno-Gascon, F. Javier & Woo, Carolyn Y., 1994. "Initial human and financial capital as predictors of new venture performance," Journal of Business Venturing, Elsevier, vol. 9(5), pages 371-395, September.
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    Cited by:

    1. Müller, Kathrin, 2008. "University Spin-Off's Transfer Speed: Analyzing the Time from Leaving University to Venture," ZEW Discussion Papers 08-034, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

    More about this item

    Keywords

    Higher Education; Human Capital; Entrepreneurship; Spin-off;

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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