Imprinting and the progeny of university spin-offs

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• 作者：Michael P. Ciuchta ; Yan Gong ; Anne S. Miner…
• 关键词：Entrepreneurship ; University spin ; offs ; Imprinting ; Venture capital ; Regional development
• 刊名：The Journal of Technology Transfer
• 出版年：2016
• 出版时间：October 2016
• 年：2016
• 卷：41
• 期：5
• 页码：1113-1134
• 全文大小：620 KB
• 刊物类别：Business and Economics
• 刊物主题：Economics
  Business
  Technology Management
  Industrial Organization
  Management
  Commercial Law
  Economic Growth
  
• 出版者：Springer Netherlands
• ISSN：1573-7047
• 卷排序：41

文摘

In this paper, we employ a genealogical imprinting approach to theorize that experiences incurred during the founding of a first-generation university spin-off will influence future spin-off 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 spin-offs, 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 spin-offs around a large US research university and their subsequent progeny firms. This study develops a new understanding of multi-generational spin-off processes in a region.