The study, published in the journal Technovation and written by Pere Ortín Ángel and Ferran Vendrell Herrero, covers financial data from two comparison samples of companies founded between 1994 and 2005. One sample is made up of 104 university spin-offs and the other is made up of 73 technology-based, non-university companies.
The study compares what is known as the total factor productivity of these two samples. According to the study, in the university spin-offs this productivity is, on average, lower in the year in which the company is founded.
Nevertheless, data shows that after two or three years this productivity equals and after the fifth year the total factor productivity is higher among university spin-offs.
The total factor productivity is a technical term economists use to refer to the greater production systematically obtained by some companies when compared to their competitors even when using the same levels of factors of production (resources such as labour or capital). In management literature, the term most used to refer to these differences is capacity.
In fact, distinction is made between substantive capacities, those possessed at a specific moment, and dynamic capacities, those which aid to increase the companies substantive capacities in the long term.
Previous studies focused on the first years of life of a university spin-off and argued that their poorer economic results were caused by the differences in the commercial and management capacities of its founders.
This study is the first to measure the differences in dynamic capacities in these types of companies. The results show that, in the case of university spin-offs, dynamic capacities are higher.
The reason for this higher productivity in university companies, according to the study, could be that academic entrepreneurs have a greater learning capacity. According to Pere Ortín, researcher from the Department of Business of the UAB, "one of the possible knowledge transfers between university and business management would be to provide academically created learning tools, such as statistics, experimentals, data treatment, etc. and therefore systematise and improve learning processes within the business sector."
Pere Ortín | EurekAlert!
New study: How does Europe become a leading player for software and IT services?
03.04.2017 | Fraunhofer-Institut für System- und Innovationsforschung (ISI)
Reusable carbon nanotubes could be the water filter of the future, says RIT study
30.03.2017 | Rochester Institute of Technology
Two-dimensional magnetic structures are regarded as a promising material for new types of data storage, since the magnetic properties of individual molecular building blocks can be investigated and modified. For the first time, researchers have now produced a wafer-thin ferrimagnet, in which molecules with different magnetic centers arrange themselves on a gold surface to form a checkerboard pattern. Scientists at the Swiss Nanoscience Institute at the University of Basel and the Paul Scherrer Institute published their findings in the journal Nature Communications.
Ferrimagnets are composed of two centers which are magnetized at different strengths and point in opposing directions. Two-dimensional, quasi-flat ferrimagnets...
An Australian-Chinese research team has created the world's thinnest hologram, paving the way towards the integration of 3D holography into everyday...
In the race to produce a quantum computer, a number of projects are seeking a way to create quantum bits -- or qubits -- that are stable, meaning they are not much affected by changes in their environment. This normally needs highly nonlinear non-dissipative elements capable of functioning at very low temperatures.
In pursuit of this goal, researchers at EPFL's Laboratory of Photonics and Quantum Measurements LPQM (STI/SB), have investigated a nonlinear graphene-based...
Dental plaque and the viscous brown slime in drainpipes are two familiar examples of bacterial biofilms. Removing such bacterial depositions from surfaces is...
For the first time, scientists have succeeded in studying the strength of hydrogen bonds in a single molecule using an atomic force microscope. Researchers from the University of Basel’s Swiss Nanoscience Institute network have reported the results in the journal Science Advances.
Hydrogen is the most common element in the universe and is an integral part of almost all organic compounds. Molecules and sections of macromolecules are...
22.05.2017 | Event News
17.05.2017 | Event News
16.05.2017 | Event News
22.05.2017 | Materials Sciences
22.05.2017 | Life Sciences
22.05.2017 | Physics and Astronomy