IDEAS home Printed from https://ideas.repec.org/p/cte/imrepe/id-14-01.html
   My bibliography  Save this paper

Market orientation and academic spin-off firms

Author

Listed:
  • Abbate, Tindara
  • Cesaroni, Fabrizio

Abstract

Purpose: Academic spin-off firms are considered an important mechanism to transfer technological knowledge from university to industry, although they often show a low growth rate. One possible cause is the lack of proper marketing capabilities, since spin-off managers tend to reduce the role of marketing to the implementation of mere tactical activities. This study analyses whether spin-off firms adopt a market orientation and the effect it produces on firms' economic and innovation performance. Design/methodology/approach: The empirical analysis is based on both quantitative survey data and in-depth interviews, referring to a unique sample including Italian and Spanish spin-off companies. Findings: Results highlight that MKTOR and MARKOR measurement scales show different abilities to capture the implementation of market orientation by sampled firms. We find that the generation and dissemination of information on customers and competitors directly affect firms' ability to develop technological innovations and gain profits. Nevertheless, market orientation also constitutes a challenge to spin-offs, and may eventually generate inefficiencies when external technological conditions require firms to respond quickly to environmental stimuli. Practical implications: The findings of this study are relevant to academic spin-off managers who are responsible for adopting, implementing and maintaining market orientation strategies under different environmental conditions. Limitations: The characteristics of sample used for the quantitative analysis may limit the generalization of results. Originality/value: Even though the market orientation concept has been largely analyzed, no previous study has examined its application by academic spin-offs. By employing qualitative and quantitative analyses we provide novel insights in this respect.

Suggested Citation

  • Abbate, Tindara & Cesaroni, Fabrizio, 2014. "Market orientation and academic spin-off firms," IC3JM - Estudios = Working Papers id-14-01, Instituto Mixto Carlos III - Juan March de Ciencias Sociales (IC3JM).
    • Handle: RePEc:cte:imrepe:id-14-01
    as

    Download full text from publisher

    File URL: https://e-archivo.uc3m.es/rest/api/core/bitstreams/3e1ba4bf-3710-4fc1-beaf-43b3c75be486/content
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Etzkowitz, Henry & Leydesdorff, Loet, 2000. "The dynamics of innovation: from National Systems and "Mode 2" to a Triple Helix of university-industry-government relations," Research Policy, Elsevier, vol. 29(2), pages 109-123, February.
    2. Jean-Jacques Degroof & Edward B. Roberts, 2004. "Overcoming Weak Entrepreneurial Infrastructures for Academic Spin-Off Ventures," The Journal of Technology Transfer, Springer, vol. 29(3_4), pages 327-352, August.
    3. Céline Druilhe & Elizabeth Garnsey, 2004. "Do Academic Spin-Outs Differ and Does it Matter?," The Journal of Technology Transfer, Springer, vol. 29(3_4), pages 269-285, August.
    4. Kathleen M. Eisenhardt & Jeffrey A. Martin, 2000. "Dynamic capabilities: what are they?," Strategic Management Journal, Wiley Blackwell, vol. 21(10‐11), pages 1105-1121, October.
    5. Mustar, Philippe & Renault, Marie & Colombo, Massimo G. & Piva, Evila & Fontes, Margarida & Lockett, Andy & Wright, Mike & Clarysse, Bart & Moray, Nathalie, 2006. "Conceptualising the heterogeneity of research-based spin-offs: A multi-dimensional taxonomy," Research Policy, Elsevier, vol. 35(2), pages 289-308, March.
    6. Franklin, Stephen J & Wright, Mike & Lockett, Andy, 2001. "Academic and Surrogate Entrepreneurs in University Spin-Out Companies," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 127-141, January.
    7. Junfu Zhang, 2009. "The performance of university spin-offs: an exploratory analysis using venture capital data," The Journal of Technology Transfer, Springer, vol. 34(3), pages 255-285, June.
    8. Paul D. Ellis, 2006. "Market Orientation and Performance: A Meta‐Analysis and Cross‐National Comparisons," Journal of Management Studies, Wiley Blackwell, vol. 43(5), pages 1089-1107, July.
    9. Jiménez-Jiménez, Daniel & Sanz-Valle, Raquel, 2011. "Innovation, organizational learning, and performance," Journal of Business Research, Elsevier, vol. 64(4), pages 408-417, April.
    10. Lockett, Andy & Wright, Mike, 2005. "Resources, capabilities, risk capital and the creation of university spin-out companies," Research Policy, Elsevier, vol. 34(7), pages 1043-1057, September.
    11. Nicolaou, Nicos & Birley, Sue, 2003. "Academic networks in a trichotomous categorisation of university spinouts," Journal of Business Venturing, Elsevier, vol. 18(3), pages 333-359, May.
    12. Slater, Stanley F. & Narver, John C., 1994. "Market orientation, customer value, and superior performance," Business Horizons, Elsevier, vol. 37(2), pages 22-28.
    13. Roberts, Edward B., 1991. "The technological base of the new enterprise," Research Policy, Elsevier, vol. 20(4), pages 283-298, August.
    14. Lockett, Andy & Wright, Mike & Franklin, Stephen, 2003. "Technology Transfer and Universities' Spin-Out Strategies," Small Business Economics, Springer, vol. 20(2), pages 185-200, March.
    15. Shantanu Dutta & Om Narasimhan & Surendra Rajiv, 1999. "Success in High-Technology Markets: Is Marketing Capability Critical?," Marketing Science, INFORMS, vol. 18(4), pages 547-568.
    16. Clarysse, Bart & Moray, Nathalie, 2004. "A process study of entrepreneurial team formation: the case of a research-based spin-off," Journal of Business Venturing, Elsevier, vol. 19(1), pages 55-79, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:cte:idrepe:id-14-01 is not listed on IDEAS
    2. Christian Sandström & Karl Wennberg & Martin W. Wallin & Yulia Zherlygina, 2018. "Public policy for academic entrepreneurship initiatives: a review and critical discussion," The Journal of Technology Transfer, Springer, vol. 43(5), pages 1232-1256, October.
    3. Christopher S. Hayter & Andrew J. Nelson & Stephanie Zayed & Alan C. O’Connor, 2018. "Conceptualizing academic entrepreneurship ecosystems: a review, analysis and extension of the literature," The Journal of Technology Transfer, Springer, vol. 43(4), pages 1039-1082, August.
    4. Mauro Sciarelli & Giovanni Catello Landi & Lorenzo Turriziani & Mario Tani, 2021. "Academic entrepreneurship: founding and governance determinants in university spin-off ventures," The Journal of Technology Transfer, Springer, vol. 46(4), pages 1083-1107, August.
    5. Rasmussen, Einar & Borch, Odd Jarl, 2010. "University capabilities in facilitating entrepreneurship: A longitudinal study of spin-off ventures at mid-range universities," Research Policy, Elsevier, vol. 39(5), pages 602-612, June.
    6. Djordje Djokovic & Vangelis Souitaris, 2008. "Spinouts from academic institutions: a literature review with suggestions for further research," The Journal of Technology Transfer, Springer, vol. 33(3), pages 225-247, June.
    7. Müller, Kathrin, 2010. "Academic spin-off's transfer speed--Analyzing the time from leaving university to venture," Research Policy, Elsevier, vol. 39(2), pages 189-199, March.
    8. Marius Tuft Mathisen & Einar Rasmussen, 2019. "The development, growth, and performance of university spin-offs: a critical review," The Journal of Technology Transfer, Springer, vol. 44(6), pages 1891-1938, December.
    9. Giuseppe Criaco & Tommaso Minola & Pablo Migliorini & Christian Serarols-Tarrés, 2014. "“To have and have not”: founders’ human capital and university start-up survival," The Journal of Technology Transfer, Springer, vol. 39(4), pages 567-593, August.
    10. Isabel Diez-Vial & Angeles Montoro-Sanchez, 2017. "Research evolution in science parks and incubators: foundations and new trends," Scientometrics, Springer;Akadémiai Kiadó, vol. 110(3), pages 1243-1272, March.
    11. Samantha Bradley & Christopher Hayter & Albert Link, 2013. "Proof of Concept Centers in the United States: an exploratory look," The Journal of Technology Transfer, Springer, vol. 38(4), pages 349-381, August.
    12. Cornelia Kolb & Marcus Wagner, 2018. "How university spin-offs differ in composition and interaction: a qualitative approach," The Journal of Technology Transfer, Springer, vol. 43(3), pages 734-759, June.
    13. Alice Civera & Michele Meoli, 2018. "Does university prestige foster the initial growth of academic spin-offs?," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 45(2), pages 111-142, June.
    14. Simone Scagnelli & Lorenzo Vasile & Mico Apostolov, 2019. "Survival Drivers Of Post-Incubated Start-Ups: The Effect Of Academic Governance," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(07), pages 1-20, October.
    15. Würmseher, Martin, 2017. "To each his own: Matching different entrepreneurial models to the academic scientist's individual needs," Technovation, Elsevier, vol. 59(C), pages 1-17.
    16. Roland Helm & Oliver Mauroner, 2007. "Success of research-based spin-offs. State-of-the-art and guidelines for further research," Review of Managerial Science, Springer, vol. 1(3), pages 237-270, November.
    17. Belitski, Maksim & Aginskaja, Anna & Marozau, Radzivon, 2019. "Commercializing university research in transition economies: Technology transfer offices or direct industrial funding?," Research Policy, Elsevier, vol. 48(3), pages 601-615.
    18. Anne Miner & Yan Gong & Michael Ciuchta & Anthony Sadler & John Surdyk, 2012. "Promoting university startups: international patterns, vicarious learning and policy implications," The Journal of Technology Transfer, Springer, vol. 37(2), pages 213-233, April.
    19. Valérie François & Pascal Philippart, 2019. "A university spin-off launch failure: explanation by the legitimation process," The Journal of Technology Transfer, Springer, vol. 44(4), pages 1188-1215, August.
    20. Gümüsay, Ali Aslan & Bohné, Thomas Marc, 2018. "Individual and organizational inhibitors to the development of entrepreneurial competencies in universities," Research Policy, Elsevier, vol. 47(2), pages 363-378.
    21. Mariluz Fernández-Alles & Carmen Camelo-Ordaz & Noelia Franco-Leal, 2015. "Key resources and actors for the evolution of academic spin-offs," The Journal of Technology Transfer, Springer, vol. 40(6), pages 976-1002, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cte:imrepe:id-14-01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ana Poveda (email available below). General contact details of provider: http://www.march.es/ceacs/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.