Authors: Michael P Ciuchta Yan Gong Anne S Miner Chaim Letwin Anthony Sadler
Publish Date: 2016/01/20
Volume: 41, Issue: 5, Pages: 1113-1134
Abstract
In this paper we employ a genealogical imprinting approach to theorize that experiences incurred during the founding of a firstgeneration university spinoff will influence future spinoff activity from the focal firm We propose that firms that secure equity investment during their founding process will have a higher likelihood of generating subsequent spinoffs and that this impact is conditional on the human capital of the founding team We test our hypotheses on a sample of 101 first generation university spinoffs around a large US research university and their subsequent progeny firms This study develops a new understanding of multigenerational spinoff processes in a region
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