Analysis of the survival determinants of university spin-offs in a cross-national sample
- 1 January 2022
- journal article
- research article
- Published by Inderscience Publishers in International Journal of Technology Management
- Vol. 88 (1), 93-118
- https://doi.org/10.1504/ijtm.2022.121452
Abstract
Understanding the dynamics related to university survival is a critical point for scholars and policymakers, especially in the technology transfer process. Drawing on the population and organisational ecology perspectives and the resource-based view of the firm, this paper aims to investigate the survival determinants of university spin-offs (USOs). After applying event analysis techniques in a cross-national dataset of 1,275 Italian and Spanish USOs over the period 2005-2013, the findings show that firm size, firm age, industrial partners and firm efficiency positively influence the USOs' survival, whereas patent activity decreases the USOs' chances to survive. Additionally, a U-shaped relationship between financial leverage and the USOs' survival emerges. Based on the emerging evidence, some policy and managerial implications are provided to help USOs to cross their 'Valley of Death'.Keywords
This publication has 89 references indexed in Scilit:
- Properties of knowledge base and firm survival: Evidence from a sample of French manufacturing firmsTechnological Forecasting and Social Change, 2013
- Untangling the relationships among growth, profitability and survival in new firmsTechnovation, 2013
- Firms’ genetic characteristics and competence-enlarging strategies: A comparison between academic and non-academic high-tech start-upsResearch Policy, 2012
- Population ecology theory: implications for sustainabilityManagement Decision, 2011
- The Effect of Private Information and Monitoring on the Role of Accounting Quality in Investment Decisions*Contemporary Accounting Research, 2010
- Policy principles for the creation and success of corporate and academic spin-offsTechnovation, 2010
- An empirical study of university spin‐off developmentEuropean Journal of Innovation Management, 2005
- Does Entry Size Matter? The Impact of the Life Cycle and Technology on Firm SurvivalJournal of Industrial Economics, 2001
- Survival of the Fittest or the Fattest? Exit and Financing in the Trucking IndustryThe Journal of Finance, 1998
- Survival of the Fittest? Entrepreneurial Human Capital and the Persistence of Underperforming FirmsAdministrative Science Quarterly, 1997