The Effectiveness of University Regulations to Foster Science-Based Entrepreneurship

50 Pages Posted: 1 Nov 2019 Last revised: 16 Jan 2020

See all articles by Riccardo Fini

Riccardo Fini

University of Bologna - Department of Management; Imperial College London

Rosa Grimaldi

University of Bologna

Azzurra Meoli

University of Bologna - Department of Management

Date Written: October 23, 2019

Abstract

In this study, we analyze the effect of the introduction of university regulations supporting academic entrepreneurship. Using a sample of 611 companies spun-off from the 64 Italian Science, Technology, Engineering, Mathematics and Medicine (STEMM) universities between 2002 and 2012, we show that university regulations in support of academic entrepreneurship have a positive effect on the creation of academic spin-offs. Nevertheless, their effectiveness is conditioned by specific contingencies. First, the characteristics of university departments influence the positive effect of the regulation: in some cases, there is a substitution effect rather than a complementary one. Second, the design of the regulation impacts the decisions of academic staff regarding whether to start a new venture. Finally, the effect of the regulation is maximized four years after its introduction and then becomes less effective. This paper contributes to the debate on the evaluation of policies supporting science-based entrepreneurship.

Keywords: Academic Entrepreneurship; Policy Intervention; Science-Based Entrepreneurship; Academic Spin-Off; University Departments

JEL Classification: 03; J1

Suggested Citation

Fini, Riccardo and Grimaldi, Rosa and Meoli, Azzurra, The Effectiveness of University Regulations to Foster Science-Based Entrepreneurship (October 23, 2019). Research Policy, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3474340

Riccardo Fini (Contact Author)

University of Bologna - Department of Management ( email )

Via Terracini 28
Bologna, 40131
Italy

HOME PAGE: http://www.unibo.it/faculty/riccardo.fini

Imperial College London ( email )

South Kensington Campus
London SW7 2AZ, DC
United Kingdom

HOME PAGE: http://www3.imperial.ac.uk/people/r.fini

Rosa Grimaldi

University of Bologna ( email )

Piazza Scaravilli 2
Bologna, 40100
Italy

Azzurra Meoli

University of Bologna - Department of Management ( email )

Piazza Scaravilli 1
Bologna, Bologna 40126
Italy

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