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Are Public Research Spin-Offs More Innovative?

Andreas Stephan

No 222, Ratio Working Papers from The Ratio Institute

Abstract: The main purpose of this paper is to analyse whether research spin-offs, that is, spinoffs from either public research institutes or universities, have greater innovation capabilities than comparable knowledge-intensive firms created in other ways. Using a sample of about 2,800 firms from highly innovative sectors, propensity score matching is used to create a sample group of control firms that is comparable to the group of spin-offs. The paper provides evidence that the 121 research spin-offs investigated have more patent applications and more radical product innovations, on average, compared to similar firms. The results also show that research spin-offs’ superior innovation performance can be explained by their high level of research cooperation and by location factors. An urban region location and proximity to the parent institution are found to be conducive to innovation productivity. The paper also finds evidence that research spin-offs are more successful in attracting support from public innovation support programs in comparison to their peers.

Keywords: Spin-Offs; Innovation Performance; Propensity Score Matching; Location Factors; Cooperation; Public R&D Subsidies (search for similar items in EconPapers)
JEL-codes: M13 O18 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2013-10-08
New Economics Papers: this item is included in nep-cse, nep-ent, nep-eur, nep-ino, nep-knm, nep-sbm, nep-tid and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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