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Academic Entrepreneurship: The Bayh-Dole Act versus the Professor's Privilege
HEC Paris, Entreprneurship, Dept Econ & Decis Sci, Paris, France..
Univ Maryland, Robert H Smith Sch Business, College Pk, MD 20742 USA.;Univ Maryland, Dept Econ, College Pk, MD 20742 USA.;Osaka Univ, ISER, Osaka, Japan.;NBER, Cambridge, MA 02138 USA..
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).ORCID iD: 0000-0003-0218-7924
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).ORCID iD: 0000-0003-0820-2769
2019 (English)In: Industrial & labor relations review, ISSN 0019-7939, E-ISSN 2162-271X, Vol. 72, no 5, p. 1094-1122Article in journal (Refereed) Published
Abstract [en]

Is the Bayh-Dole intellectual property regime associated with more and better academic entrepreneurship than the Professor's Privilege regime? The authors examine data on US PhDs in the natural sciences, engineering, and medical fields who became entrepreneurs in 1993-2006 and compare this to similar data from Sweden. They find that, in both countries, those with an academic background have lower rates of entry into entrepreneurship than do those with a non-academic background. The relative rate of academics starting entrepreneurial firms is slightly lower in the United States than in Sweden. Moreover, the mean economic gains from becoming an entrepreneur are negative, both for PhDs originating in academia and for non-academic settings in both countries. Analysis indicates that selection into entrepreneurship occurs from the lower part of the ability distribution among academics. The results suggest that policies supporting entrepreneurial decisions by younger, tenure-track academics may be more effective than are general incentives to increase academic entrepreneurship.

Place, publisher, year, edition, pages
SAGE PUBLICATIONS INC , 2019. Vol. 72, no 5, p. 1094-1122
Keywords [en]
academic entrepreneurship, innovation, royalty sharing, Bayh-Dole, Professor's Privilege
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-261003DOI: 10.1177/0019793918819809ISI: 000484519900003Scopus ID: 2-s2.0-85060033772OAI: oai:DiVA.org:kth-261003DiVA, id: diva2:1357390
Note

QC 20191003

Available from: 2019-10-03 Created: 2019-10-03 Last updated: 2019-10-03Bibliographically approved

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Braunerhjelm, PontusBroström, Anders

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