Determinants of financial rewards from industry-university collaboration in South Korea

Junghee Han and Almas Heshmati ()

International Journal of Entrepreneurship and Innovation Management, 2016, vol. 20, issue 3/4, 235-257

Abstract: The external circumstances for universities have been changing rapidly. In order to be competitive, survive and flourish, universities have turned to external sources to generate revenues. The literature refers to this phenomenon as academic capitalism, defined as the involvement of colleges and their faculty in market-like behaviours, which has become a key feature of higher education finances in most countries. As a result, technology transfer, technological commercialisation, and patents via industry-university collaboration represent a source of financial rewards. This paper explores the determinants of financial rewards of universities sourced from academic engagement through industry-university collaboration in South Korea. We have found that technology transfer per employees working at technology licensing offices, participation of engineering faculty, patent approvals, and the number of firms with incubators within universities significantly contributes to university revenues. The following determinants of financial performance are unexpectedly not contributors to revenue: technological commercialisation using technology transfer, distinguished faculty and incentive rules for inventors. In the light of these findings, it appears that an entrepreneurial university program is likely to play a strong role in university finances in Korea.

Keywords: industry-university collaboration; industrial cooperation; entrepreneurial universities; university revenues; South Korea; financial rewards; higher education; technology transfer; technological commercialisation; patents; business incubators; distinguished faculty; incentives; university finances. (search for similar items in EconPapers)
Date: 2016
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Related works:
Journal Article: DETERMINANTS OF FINANCIAL REWARDS FROM INDUSTRY–UNIVERSITY COLLABORATION IN SOUTH KOREA (2016)
Working Paper: Determinants of Financial Rewards from Industry-University Collaboration in South Korea (2013)
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