Determinant factors of university spinoff the ca

Authors: Hyejin Jung ByungKeun Kim

Publish Date: 2017/03/13

Volume: 43, Issue: 6, Pages: 1631-1646

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Abstract

Increasingly more research has examined the creation of university spinoff firms as are seen as an important source of regional and national economic growth However little is known about the factors influencing the formation of university spinoff in Asian countries especially in Korea This paper contributes to the literature on academic entrepreneurship by deepening our understanding on determinant factors of university spinoff in the case of Korea We investigate organizational and institutional factors highlighted in the literature as influencing the creation of university spinoff companies The Korean government has implemented the INNOPOLIS Research Institute Spinoff IRIS program to enable universities to create new firms within special research and development RD zones to commercialize public RD output The capability of universities to establish new firms through the program varies consequently this study utilized 122 universities from 2013 to 2015 to analyze determinant factors that affect university spinoffs Panel logit and negative binomial analysis results indicate that university location has the highest positive influence on IRIS Governmentsponsored funding has a negative impact however the likelihood that universities create spinoffs and the number of IRIS firms are positively and significantly affected by publications patents research funding and number of university spinoffs

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