Title: Commercializing science: Is there a university 'brain drain' from academic entrepreneurship?
Authors: Toole, A.A. ×
Czarnitzki, Dirk #
Issue Date: Sep-2010
Publisher: Institute for Operations Research and the Management Sciences
Series Title: Management Science vol:56 issue:9 pages:1599-1614
Abstract: When academic researchers participate in commercialization using for-profit firms, there is a potentially costly trade-off—their time and effort are diverted away from academic knowledge production. This is a form of brain drain on the not-for-profit research sector that may reduce knowledge accumulation and adversely impact long-run economic growth. In this paper, we examine the economic significance of the brain drain phenomenon using scientist-level panel data. We identify life scientists who start or join for-profit firms using information from the Small Business Innovation Research program and analyze the research performance of these scientists relative to a control group of randomly selected research peers. Combining our statistical results with data on the number of university spin-offs in the United States from 1994 to 2004, we find the academic brain drain has a nontrivial impact on knowledge production in the not-for-profit research sector.
ISSN: 0025-1909
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Department of Managerial Economics, Strategy and Innovation (MSI), Leuven
× corresponding author
# (joint) last author

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