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http://dx.doi.org/10.5762/KAIS.2016.17.9.74

The Factors Affecting Technology Commercialization of Government Research Institutes: The Case of Research Institute Spin-offs  

Jung, Hye-Jin (Center for Technology & Innovation Management, Korea University of Technology & Education)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.17, no.9, 2016 , pp. 74-82 More about this Journal
Abstract
The term research institute spin-offs refers to new firms created by public research institutes. These spin-offs are different from other start-ups in two respects: on the one hand, they should be located in the Special Research and Development Zones and, on the other hand, these firms are supposed to commercialize the results of public R&D activities. These spin-off firms show higher rates of survival and job creation than general new firms, which means that their contribution to economic growth is not negligible. The present study analyzes the factors affecting research institute spin-offs using a random effect panel logit model and negative binomial model. From previous studies, four elements are identified as playing an important role in the commercialization of public R&D through spin-offs, namely their organizational character, research capability, technological character, and geographical location. The empirical results demonstrate that government research institutes with more researchers and patents are more likely to create new firms. In addition, the location of the institutes significantly affects the probability of their creating spin-offs and their number. When the technological stage and TLO size are considered, however, it turns out that the number of researchers and technological stage play important roles in the spin-offs.
Keywords
commercialization of public R&D; government research institute; negative binomial analysis; panel logit; research institute spin-offs;
Citations & Related Records
Times Cited By KSCI : 6  (Citation Analysis)
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