A firm perspective on commercializing university technology
Peter J Sher
Professor, Department of International Business Studies, National Chi Nan University, Nantou, Taiwan
Hsin-Yu Shih
Professor, Department of International Business Studies, National Chi Nan University, Nantou, Taiwan
Beryl Lihua Kuo
Researcher, Center for Creativity and Innovation Studies, National Chengchi University, Taiwan
PP: 173 - 186
Abstract
The transfer and commercialization of university technology requires interactive marketing. While a growing number of studies have examined academic entrepreneurship, the relationship between university technology and firm decisions regarding commercialization remains poorly understood.
This study employs the firm perspective to holistically outline the characteristics and relationships related to the commercialization of university technology in Taiwan. Using 83 firms involved in acquiring university technology through licensing, joint research or contract research, this study identifies negative relationships between the likelihood of commercialization and guanxi and variable royalties, respectively, suggesting that acquired technology can be considered a short-term, transaction-specific investment in securing further guanxi, and that variable royalties compensate faculty/inventors but recompense recipients for additional transaction costs incurred.
The results highlight the need to closely examine the nature of technology, relationship development, and royalties behind commercialization, and recommends further research to develop academic entrepreneurship from the firm perspective.
Keywords
technology commercialization; university-business relationship; royalties; guanxi; inertness
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