Imperial College London
Alternate

DrRiccardoFini

Business School

Visiting Researcher
 
 
 
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Contact

 

+44 (0)20 7594 9117r.fini Website

 
 
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Location

 

Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Bolzani:2021:10.1002/sej.1359,
author = {Bolzani, D and Rasmussen, E and Fini, R},
doi = {10.1002/sej.1359},
journal = {Strategic Entrepreneurship Journal},
pages = {590--618},
title = {Spin-offs' linkages to their parent universities over time: The performance implications of equity, geographical proximity, and technological ties},
url = {http://dx.doi.org/10.1002/sej.1359},
volume = {15},
year = {2021}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Research SummaryThis study explores the impact of parent university linkages on the market performance of university spinoff firms (USOs). We argue that spinoffs' performance is not only affected by competencies inherited from their parent universities at startup but also by linkages maintained over time. We longitudinally study 551 USOs established between 2000 and 2008 in Italy. Using estimations that account for attrition and endogeneity, we find that equitybased university linkages increase USOs' market performance and that geographical proximity strengthens this effect. Furthermore, increasing technological ties between USOs' entrepreneurial teams and their parent universities has a detrimental effect on performance, especially for companies that remain geographically proximate to their parent universities. The results have implications for theory and practice related to strategic linkages, alliances, and academic entrepreneurship.Managerial SummaryThis study explores the extent to which university spinoff firms (USOs) benefit from maintaining linkages with their parent universities over time. We study 551 USOs established between 2000 and 2008 in Italy, assessing their market performance (i.e., sales revenues) up to 2012. We find that USOs that maintain equity shares with their parent universities have better market performance. This positive effect is stronger for USOs located near their parent universities. In contrast, USOs that maintain close technological ties to their parent universities have worse market performance, especially if located near their parent universities. These findings are relevant to policymakers, university managers, and academic entrepreneurs interested in understanding how to effectively design and manage the different linkages between USOs and their parent universities.
AU  - Bolzani,D
AU  - Rasmussen,E
AU  - Fini,R
DO  - 10.1002/sej.1359
EP  - 618
PY  - 2021///
SN  - 1932-4391
SP  - 590
TI  - Spin-offs' linkages to their parent universities over time: The performance implications of equity, geographical proximity, and technological ties
T2  - Strategic Entrepreneurship Journal
UR  - http://dx.doi.org/10.1002/sej.1359
UR  - http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000559515000001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=1ba7043ffcc86c417c072aa74d649202
UR  - https://onlinelibrary.wiley.com/doi/full/10.1002/sej.1359
UR  - http://hdl.handle.net/10044/1/82466
VL  - 15
ER  -
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