Innovation in Science and Technology Management

Is It a Good Option for Academic Organizations to Control Their Spin-offs:Evidence from the Listed Companies in China

  • Xiao Jianhua ,
  • Wang Ruofan
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  • (School of Economics and Management,University of Chinese Academy of Sciences,Beijing 100190,China)

Received date: 2020-02-25

  Revised date: 2020-04-22

  Online published: 2021-01-15

Abstract

Academic spin-off is one of the important approaches for academic organizations to transfer their academic achievements into economic results. While spin-offs are at the early age,academic organizations always play an indispensable role of "parents" supporting their development. When they grow up form small business to big companies,the drawbacks of academic organizations involving in the business management as “parents” have gradually emerged. Meanwhile,along with more and more external funds investments into spin-offs,owners equities of academic organizations have to be diluted. In this case,is it a good option for academic organizations to keep controlling their spin-offs? This paper takes the listed academic spin-offs in China as samples,and analyzes the influence of the control rights of spin-offs on their performance. It is found that the academic organization control their spin-offs significantly promotes corporate performance,Controlling spin-offs can help them achieve better performance.

Cite this article

Xiao Jianhua , Wang Ruofan . Is It a Good Option for Academic Organizations to Control Their Spin-offs:Evidence from the Listed Companies in China[J]. Science & Technology Progress and Policy, 2021 , 38(1) : 10 -17 . DOI: 10.6049/kjjbydc.2020020584

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