Imprinting and the progeny of university spin-offs |
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| Authors: | Michael P. Ciuchta Yan Gong Anne S. Miner Chaim Letwin Anthony Sadler |
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| Affiliation: | 1.University of Massachusetts Lowell,Lowell,USA;2.China Europe International Business School,Shanghai,People’s Republic of China;3.Wisconsin School of Business,University of Wisconsin – Madison,Madison,USA;4.Suffolk University,Boston,USA;5.Andreas School of Business,Barry University,Miami Shores,USA |
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| Abstract: | In this paper, we employ a genealogical imprinting approach to theorize that experiences incurred during the founding of a first-generation university spin-off will influence future spin-off activity from the focal firm. We propose that firms that secure equity investment during their founding process will have a higher likelihood of generating subsequent spin-offs, and that this impact is conditional on the human capital of the founding team. We test our hypotheses on a sample of 101 first generation university spin-offs around a large US research university and their subsequent progeny firms. This study develops a new understanding of multi-generational spin-off processes in a region. |
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