Rent Bypassing and Sourcing of University-Based Technology

Babson College Entrepreneurship Research Conference (BCERC) 2005

Frontiers of Entrepreneurship Research 2005

14 Pages Posted: 21 Dec 2009  

Gideon Markman

Colorado State University, Fort Collins - College of Business

Peter Gianiodis

Clemson University

Phillip Phan

Johns Hopkins University - Carey Business School

Abstract

Our paper advances theory by addressing the problem of expropriation by specialized knowledge agents who create value-generating resources claimed by principals. Specifically, we explore the conditions under which university scientists can redirect the value of discoveries from university laboratories via private appropriation directly to the market. We studied 23,394 scientists working in 54 U.S. universities and found that private appropriation is reduced when a university professionalizes its technology transfer function. Contrary to expectations contingent compensation schemes tend to encourage more private appropriation. We also found that more valuable intellectual capital and being located in an entrepreneurially active environment were associated with increased private appropriation.

Keywords: Entrepreneurship

JEL Classification: M13

Suggested Citation

Markman, Gideon and Gianiodis, Peter and Phan, Phillip, Rent Bypassing and Sourcing of University-Based Technology. Frontiers of Entrepreneurship Research 2005. Available at SSRN: https://ssrn.com/abstract=1520693

Gideon Markman (Contact Author)

Colorado State University, Fort Collins - College of Business ( email )

Fort Collins, CO 80523
United States

Peter Gianiodis

Clemson University ( email )

101 Sikes Ave
Clemson, SC 29634
United States
864-656-7418 (Phone)

Phillip H. Phan

Johns Hopkins University - Carey Business School ( email )

100 International Drive
Baltimore, MD 21202
United States

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