On-line Appendix for 'Academic Entrepreneurship: Bayh-Dole versus the Professor's Privilege'

9 Pages Posted: 17 Dec 2018 Last revised: 24 Jan 2019

See all articles by Thomas B. Astebro

Thomas B. Astebro

HEC Paris - Economics and Decision Sciences

Serguey Braguinsky

University of Maryland - Department of Management & Organization; National Bureau of Economic Research (NBER); Osaka University - Institute of Social and Economic Research

Pontus Braunerhjelm

KTH Royal Institute of Technology - Department of Industrial Economics and Management

Anders Broström

Royal Institute of Technology (KTH); Royal Institute of Technology (KTH) - Center of Excellence for Science and Innovation Studies

Date Written: November 19, 2018

Abstract

Is the Bayh-Dole intellectual property regime associated with more and better academic entrepreneurship than the Professor Privilege regime? The authors examine data on US PhDs in the natural sciences, engineering, and medical fields who became entrepreneurs in 1993–2006 and compare this to similar data from Sweden. They find that, in both countries, those with an academic background have lower rates of entry into entrepreneurship than do those with a non-academic background. The relative rate of academics starting entrepreneurial firms is slightly lower in the United States than in Sweden. Moreover, the mean economic gains from becoming an entrepreneur are negative, both for PhDs originating in academia and non-academic settings in both countries. Analysis indicates that selection into entrepreneurship occurs from the lower part of the ability distribution among academics. The results suggest that policies aimed at supporting entrepreneurial decisions by younger, tenure-track academics may be more effective than general incentives at increasing academic entrepreneurship in general.

Note: This paper contains the on on-line appendix to the paper with the same title forthcoming in ILRR.

Keywords: Academic entrepreneurship, Bayh-Dole, Professor’s Privilege

JEL Classification: L26, J20, N32

Suggested Citation

Astebro, Thomas B. and Braguinsky, Serguey and Braunerhjelm, Pontus and Broström, Anders, On-line Appendix for 'Academic Entrepreneurship: Bayh-Dole versus the Professor's Privilege' (November 19, 2018). HEC Paris Research Paper No. ECO/SCD-2018-1323. Available at SSRN: https://ssrn.com/abstract=3286994 or http://dx.doi.org/10.2139/ssrn.3286994

Thomas B. Astebro (Contact Author)

HEC Paris - Economics and Decision Sciences ( email )

Jouy-en-Josas Cedex, 78351
France

HOME PAGE: http://www.hec.edu/Faculty-Research/Faculty-Directory/ASTEBRO-Thomas

Serguey Braguinsky

University of Maryland - Department of Management & Organization ( email )

United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Osaka University - Institute of Social and Economic Research ( email )

6-1, Mihogaoka
Ibaraki, Osaka 567-0047
Japan

Pontus Braunerhjelm

KTH Royal Institute of Technology - Department of Industrial Economics and Management

Sweden

Anders Broström

Royal Institute of Technology (KTH) ( email )

Lindstedtsvägen 30-100 44
Stockholm, SE-100 44
Sweden

Royal Institute of Technology (KTH) - Center of Excellence for Science and Innovation Studies ( email )

Drottning Kristinas väg 30
Stockholm, SE-100 44
Sweden

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