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Dynamic entrepreneurship: On the performance of U.S. research joint ventures

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  • Jeremy W. Bray

    (University of North Carolina at Greensboro)

  • Albert N. Link

    (University of North Carolina at Greensboro)

Abstract

In this paper, we present descriptive findings on the research success of U.S. research joint ventures (RJVs). Using survey-based data of a sample of U.S. RJVs, we build on the theory of dynamic entrepreneurship to develop an empirical model of cross-RJV differences in performance. We find that ventures that include a university as a research member are relatively more successful, measured in terms of research goals completed, than ventures that do not. We also find that those RJVs that have a longer research duration and that are led by a firm with prior RJV experience are similarly more successful. Our empirical analysis also shows that membership size is not a significant covariate with research success. We conclude the paper with a call for additional research and with a policy statement that is based on our finding of a positive and significant relationship between university membership and RJV success.

Suggested Citation

  • Jeremy W. Bray & Albert N. Link, 2017. "Dynamic entrepreneurship: On the performance of U.S. research joint ventures," Small Business Economics, Springer, vol. 49(4), pages 785-797, December.
    • Handle: RePEc:kap:sbusec:v:49:y:2017:i:4:d:10.1007_s11187-017-9862-x
    DOI: 10.1007/s11187-017-9862-x
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    1. Lokshin, Boris & Hagedoorn, John & Letterie, Wilko, 2011. "The bumpy road of technology partnerships: Understanding causes and consequences of partnership mal-functioning," Research Policy, Elsevier, vol. 40(2), pages 297-308, March.
    2. David B. Audretsch & Donald F. Kuratko & Albert N. Link, 2016. "Dynamic entrepreneurship and technology-based innovation," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 603-620, July.
    3. Christopher Hayter, 2013. "Conceptualizing knowledge-based entrepreneurship networks: perspectives from the literature," Small Business Economics, Springer, vol. 41(4), pages 899-911, December.
    4. Leyden, Dennis Patrick & Link, Albert N., 2015. "Public Sector Entrepreneurship: U.S. Technology and Innovation Policy," OUP Catalogue, Oxford University Press, number 9780199313853.
    5. Hagedoorn, John & Link, Albert N. & Vonortas, Nicholas S., 2000. "Research partnerships1," Research Policy, Elsevier, vol. 29(4-5), pages 567-586, April.
    6. Hall, Bronwyn H & Link, Albert N & Scott, John T, 2001. "Barriers Inhibiting Industry from Partnering with Universities: Evidence from the Advanced Technology Program," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 87-98, January.
    7. Link, Albert N, 1980. "Firm Size and Efficient Entrepreneurial Activity: A Reformulation of the Schumpeter Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 88(4), pages 771-782, August.
    8. Leyden, Dennis P. & Link, Albert N. & Siegel, Donald S., 2014. "A theoretical analysis of the role of social networks in entrepreneurship," Research Policy, Elsevier, vol. 43(7), pages 1157-1163.
    9. Dennis Leyden & Albert Link, 2013. "Knowledge spillovers, collective entrepreneurship, and economic growth: the role of universities," Small Business Economics, Springer, vol. 41(4), pages 797-817, December.
    10. Link, Albert N. & Scott, John T., 2005. "Universities as partners in U.S. research joint ventures," Research Policy, Elsevier, vol. 34(3), pages 385-393, April.
    11. Lhuillery, Stéphane & Pfister, Etienne, 2009. "R&D cooperation and failures in innovation projects: Empirical evidence from French CIS data," Research Policy, Elsevier, vol. 38(1), pages 45-57, February.
    12. Link, Albert N., 2015. "Capturing Knowledge: Private Gains and Public Gains from University Research Partnerships," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 11(3), pages 139-206, November.
    13. Zvi Griliches, 1998. "Productivity, R&D, and Basic Research at the Firm Level in the 1970s," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 82-99, National Bureau of Economic Research, Inc.
    14. Link, Albert N, 1981. "Basic Research and Productivity Increase in Manufacturing: Additional Evidence," American Economic Review, American Economic Association, vol. 71(5), pages 1111-1112, December.
    15. Mansfield, Edwin, 1980. "Basic Research and Productivity Increase in Manufacturing," American Economic Review, American Economic Association, vol. 70(5), pages 863-873, December.
    16. Bronwyn H. Hall & Albert N. Link & John T. Scott, 2003. "Universities as Research Partners," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 485-491, May.
    17. Michael J. Hall & Stephen K. Layson & Albert N. Link, 2014. "The returns to R&D: Division of Policy Research and Analysis at the National Science Foundation," Science and Public Policy, Oxford University Press, vol. 41(4), pages 458-463.
    18. Bronwyn H. Hall & Albert N. Link & John T. Scott, 2003. "Universities as Research Partners," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 485-491, May.
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    Cited by:

    1. Albert N Link & Christopher A Swann & Martijn van Hasselt, 2022. "An assessment of the US Small Business Innovation Research (SBIR) program: A study of project failure [On the Failure of Scientific Research: An Analysis of SBIR Projects Funded by the U.S. Nationa," Science and Public Policy, Oxford University Press, vol. 49(6), pages 972-978.
    2. Chuchu Chen & Albert N. Link & Zachary T. Oliver, 2018. "U.S. federal laboratories and their research partners: a quantitative case study," Scientometrics, Springer;Akadémiai Kiadó, vol. 115(1), pages 501-517, April.
    3. David B. Audretsch & Albert N. Link, 2019. "Embracing an entrepreneurial ecosystem: an analysis of the governance of research joint ventures," Small Business Economics, Springer, vol. 52(2), pages 429-436, February.
    4. Bertha Vallejo & Banji Oyelaran-Oyeyinka & Nicholas Ozor & Maurice Bolo, 2019. "Open Innovation and Innovation Intermediaries in Sub-Saharan Africa," Sustainability, MDPI, vol. 11(2), pages 1-18, January.

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    More about this item

    Keywords

    Research joint venture (RJV); National Cooperative Research Act (NCRA); R&D; Universities; Innovation; Networks;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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