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Do university technology transfers increase firms’ innovation?

Garc�a-Vega, Mar�a; Vicente-Chirivella, �scar

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Authors

�scar Vicente-Chirivella



Abstract

We investigate how technology transfers from universities to private firms influence firm innovativeness. Using data on R&D acquisitions from universities of more than 10,000 Spanish firms for the period 2005-2013 and applying propensity score matching techniques, we find that technology transfers from universities strongly increase firm innovativeness. We next explore heterogeneous effects in order to analyse whether these gains are mediated by firm size and the business cycle. Our results suggest that the contribution of universities to firm innovation is particularly important for small firms and during the whole business cycle. The contribution of universities goes beyond its direct effect on innovation: We find that technology transfers from universities generate positive spillovers and enhance firms’ internal R&D capabilities. Our results suggest that the knowledge generated by universities makes an important contribution to economic growth through technology transfers, which makes firms more innovative. Hence, knowledge creation by universities provides an important public good.

Citation

García-Vega, M., & Vicente-Chirivella, Ó. (2020). Do university technology transfers increase firms’ innovation?. European Economic Review, 123, 103388. https://doi.org/10.1016/j.euroecorev.2020.103388

Journal Article Type Article
Acceptance Date Jan 14, 2020
Online Publication Date Jan 24, 2020
Publication Date 2020-04
Deposit Date Feb 6, 2020
Publicly Available Date Jan 25, 2022
Journal European Economic Review
Print ISSN 0014-2921
Electronic ISSN 1873-572X
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 123
Article Number 103388
Pages 103388
DOI https://doi.org/10.1016/j.euroecorev.2020.103388
Keywords Economics and Econometrics; Finance
Public URL https://nottingham-repository.worktribe.com/output/3909037
Publisher URL https://www.sciencedirect.com/science/article/pii/S0014292120300209
Additional Information This article is maintained by: Elsevier; Article Title: Do university technology transfers increase firms’ innovation?; Journal Title: European Economic Review; CrossRef DOI link to publisher maintained version: https://doi.org/10.1016/j.euroecorev.2020.103388; Content Type: article; Copyright: © 2020 Elsevier B.V. All rights reserved.

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