Factors fostering academics to start up new ventures: an assessment of Italian founders’ incentives

Why do university researchers decide to start-up a new venture? How can we distinguish between the different factors influencing such an important decision? To what extent are specific policies activated within universities relevant in the process of new venture creation? In this paper we try to answer these very significant questions, through an empirical analysis performed on a sample of 88 Italian academics involved in the creation of 47 spin-offs between 1999 and 2005. Our findings show that the availability of technologies with a potential for commercial exploitation, the possibility to access university infrastructures and the personal benefits are the most important incentives for academics. More generally, academics’ involvement in creating new ventures is not driven by an entrepreneurial attitude, but rather by the expectation of generating results which will enhance their academic position. Additional investments and efforts made by some universities to create more mechanisms to support spin-offs are not perceived as additional incentives. These results hold after controlling for academic founders’ institutional affiliation, status, and the companies’ growth over their first two years of existence. Implications for public policy and organizational processes are discussed.     

How does initial public financing influence private incentives for follow-on investment in early-stage technologies?

One common rationale supporting public financing programs for small firms is that initial public investment creates incentives for follow-on private investment. However, there does not appear to be a unified statement in the literature describing how initial public investment creates incentives for follow-on private investment. Focusing on external private investors, we use a two-stage net present value model to identify four effects from initial public investment on the private decision for follow-on investment. Our empirical analysis uses a sample of non-venture backed firms entering the SBIR program to examine how reduced risk, the number of SBIR awards, and size of initial public investment influence the likelihood of follow-on venture capital investment. We find the probability of follow-on venture capital investment is more likely when firms reach Phase II of the program, is less likely as firms win multiple Phase I and Phase II awards, and is more likely as the size of initial public investment in Phase I increases.

占有改定与善意取得 兼论民法规范漏洞的填补

占有改定和善意取得的关系,考验着法律人的抽象思维能力和具体情形中符合事理的判断力,需要运用成文法解释模式进行法律论证。在物权法的意义脉络中,立法文本所表述的交付概念从未涵括占有改定。作为法律拟制产物的占有改定,其物权变动效果不等同于现实交付,与善意取得之间具有不相容性。占有改定的物权合意只能在传来取得的情形中产生效力,在善意取得的情形中则不生效力。为填补规范漏洞,物权法第106条所言交付应作目的论限缩解释,以免法律激励出坏的交易风险,有悖于此条款追求交易安全的价值取向。     

Australian climate policy and the Asia Pacific partnership on clean development and climate (APP). From Howard to Rudd: continuity or change?

This article explains, first, why Australia’s government under John Howard, together with the United States Bush administration initiated the Asia Pacific Partnership on Clean Development and Climate (APP) and, second, why the succeeding Rudd government continued to support this initiative. Climate policy under the conservative Howard government (1995–2007) in Australia was largely dictated by fossil fuel and mineral sector interests, and reflected a close alliance with the Bush administration. The Howard government shunned the Kyoto Protocol, refused to set national binding greenhouse gas reduction targets and preferred voluntary cooperative measures with industry. The APP was part of the Howard government’s strategy to demonstrate some policy movement on climate change while postponing serious action. Climate change was a key issue in the election of the Rudd Labor government in Australia in December 2007. The Rudd government quickly ratified Kyoto, adopted emission reduction targets, and moved to introduce emissions trading. The Rudd government’s decision to continue involvement with the APP, albeit with diminished funding, was a pragmatic one. The APP was supported by industry and provided bridges to China and India—both key countries in the post-2012 UNFCCC negotiations. Finally, in order to assess the long-term outlook of the APP, the article provides a preliminary assessment as to whether the APP advances technology transfer.

Spinouts from academic institutions: a literature review with suggestions for further research

This paper provides a comprehensive literature review of the phenomenon of spinouts from academic institutions. We systematically identified spinout papers in key management journals, categorised the literature and critically synthesised the findings. We present the findings of each literature stream in turn and also identify inconsistencies and directions for further research. We conclude that while the early literature has been mainly atheoretical and focused on describing the phenomenon, a core group of recent studies were theory-driven.

A real-time multiplex SNP melting assay to discriminate individuals

A method that quickly and inexpensively differentiates crime scene samples from multiple donors would expedite casework analysis by allowing the selection of probative items requiring comprehensive testing. This new method need not be perfectly definitive nor give a complete 13 locus short tandem repeat (STR) profile; it simply must be able to differentiate between most victim and suspect samples. We describe the development of multiplex, single nucleotide polymorphism (SNP), fluorescence resonance energy transfer-based real-time polymerase chain reaction (PCR) assays to fulfill this need. Dual probes, one fluorescently labeled and the other labeled with a quencher, are monitored during a melt analysis to reveal an increase in fluorescence, which allows the assessment of the two SNP alleles. Two alternate 6-plex assays (with and without gender determination) have been developed for the six-color RG6000 real-time instrument (Corbett Robotics, Inc.) and one seven SNP plus gender assay (performed as two 4-plex assays, one with gender the other without) have been developed for use in four/five color real-time instruments. This technique can discriminate between 95% and 99% of samples from different individuals. This assay is fast (approximately 2 h), much less expensive than STR analysis, and uses a real-time PCR instrument which is found in most forensic and molecular biology labs.     

作为反垄断法规制对象的营业转让——兼析《反垄断法》第20条第2项

《反垄断法》第20条第2项所述"取得资产",应当理解为营业转让,而非一般的财产买卖。因为,只有构成营业转让的资产买卖行为,才能导致类似于合并和股权收购的经济效果(即营业合并),也才有必要对之实施反垄断规制。     

合同上第三人法律范畴刍议

作为合同法上的一项基本制度,第三人制度在有些国家的立法中已有单列,我国合同法之规定尚较为零星。完善我国的合同法第三人制度,首先应明确第三人的范畴。我国合同法所界定的第三人的主体对象应包括合同内容涉及的第三人、合同履行中的第三人等等。     

构建新型农村社会保障体系的困境破解

土地流转制度在我国农村形成了"三类人群":失地农民、农民工、农业劳动者,这"三类人群"是构建新型农村社会保障体系的特有约束。破解土地流转背景下构建新型农村社会保障体系的困境,切实保障农村居民的社会保障利益,是建设覆盖城乡的社会保障体系,构建和谐社会的基本要求。笔者在肯定土地流转制度有效的前提下,借鉴经济学中对弹性的分析思路,构建理论模型,分析土地流转制度下社会保障涉及的三大人群对社会保障制度的需求弹性和供需缺口,并基于制度变迁理论,设计出构建新型农村社会保障体系的"和谐三角"。     

城镇化视角下农村富余劳动力转移问题探析

当前,我国进入全面建成小康社会决定性阶段,全国各地正在加快推进新型城镇化建设。在推进城镇化进程中促进农村富余劳动力转移就业,是实现全面建成小康社会目标的重要保证。重视农村劳动力转移工作,建立城乡平等的就业体系,拓宽农村劳动力就业渠道,是解决农村富余劳动力的关键所在。