The Positive Effect of Innovation Ecosystem Strategy on Entrepreneurial Performance——An Empirical Study Based on Technological Spin-offs in CAS

Abstract

Abstract: The development of university spin-offs is an engine of regional economy and technological innovation. Through theoretical analysis and empirical study, this paper explores the relationship between technological capability and entrepreneurial performance of technological spin-offs and the moderation effect of innovation ecosystem strategy. Combing absorptive capability and innovation ecosystem perspective and taking 225 spin-off start -ups during 2008-2017 from various research institutes of the Chinese Academy of Sciences as samples, the empirical test is carried out using GLS random effects panel regression model. The results show that the technological capability of the spin-offs has significant positive effect on entrepreneurial performance, which is significantly enhanced when spin -off start-ups choose to embed industrial ecosystem with higher level of ecosystem maturity and higher level of ecosystem similarity. From the perspective of emerging economy, this study expands the factors which influence the development of spin-off start-ups, and provides suggestions and basis for the strategic choice of technological spin-offs.

Key words: university spin-offs, technological capability, ecosystem maturity, ecosystem similarity, entrepreneurial performance

Ding Xuechen, Liu Xielin. The Positive Effect of Innovation Ecosystem Strategy on Entrepreneurial Performance——An Empirical Study Based on Technological Spin-offs in CAS[J]. Management Review, 2021, 33(1): 120-132.

References

[1] Abreu M., Grinevich V. The Nature of Academic Entrepreneurship in the UK:Widening the Focus on Entrepreneurial Activities[J]. Research Policy, 2013,42(2):408-422
[2] Steffensen M., Rogers E. M., Speakman K. Spin-offs from Research Centers at a Research University[J]. Journal of Business Venturing, 2000,15(1):93-111
[3] Lin B-W., Lee Y., Hung S-C. R&D Intensity and Commercialization Orientation Effects on Financial Performance[J]. Journal of Business Research, 2006,59(6):679-685
[4] 李德辉,范黎波,吴双. 企业市场地位、信息优势与创业导向:基于法制环境调节效应的考察[J]. 管理评论, 2019,31(4):58-69
[5] Mosey S., Wright M. From Human Capital to Social Capital:A Longitudinal Study of Technology-Based Academic Entrepreneurs[J]. Entrepreneurship Theory and Practice, 2007,31(6):909-935
[6] Hayter C. S., Nelson A. J., Zayed S., et al. Conceptualizing Academic Entrepreneurship Ecosystems:A Review, Analysis and Extension of the Literature[J]. The Journal of Technology Transfer, 2018,43(4):1039-1082
[7] 杨德林,汪青云,孟祥清. 中国研究型大学衍生企业活动影响因素分析[J]. 科学学研究, 2007,(3):511-517
[8] O'Shea R. P., Allen T. J., Morse K. P., et al. Delineating the Anatomy of an Entrepreneurial University:The Massachusetts Institute of Technology Experience[J]. R&D Management, 2007,37(1):1-16
[9] 庞文,丁云龙. 大学衍生企业创生及其成功的政策原则[J]. 科研管理, 2014,35(11):171-177
[10] 卞庆珍,任浩. 大学与其衍生企业关系机理及关系强度研究[J]. 科技进步与对策, 2015,32(5):68-72
[11] Urban B., Chantson J. Academic Entrepreneurship in South Africa:Testing for Entrepreneurial Intentions[J]. The Journal of Technology Transfer, 2019,44(3):948-980
[12] 夏清华,徐丹,李雯. 中国大学衍生企业绩效的关键影响因素分析[J]. 技术经济, 2010,29(12):28-31
[13] Shane S. Encouraging University Entrepreneurship? The Effect of the Bayh-Dole Act on University Patenting in the United States[J]. Journal of Business Venturing, 2004,19(1):127-151
[14] 陈劲,朱学彦. 学术型创业家与企业绩效关系研究[J]. 中国软科学, 2006,(4):124-129
[15] 苏晓华,王招治. 资源禀赋与高校衍生企业绩效关系研究——以我国高校上市公司为例[J]. 科学学与科学技术管理, 2010,31(6):137-142
[16] Rasmussen E., Mosey S., Wright M. The Evolution of Entrepreneurial Competencies:A Longitudinal Study of University Spin-off Venture Emergence:The Evolution of Entrepreneurial Competencies[J]. Journal of Management Studies, 2011,48(6):1314-1345
[17] Abreu M., Grinevich V. Gender Patterns in Academic Entrepreneurship[J]. The Journal of Technology Transfer, 2017,42(4):763-794
[18] Guo F., Zou B., Guo J., et al. What Determines Academic Entrepreneurship Success? A Social Identity Perspective[J]. International Entrepreneurship and Management Journal, 2019,15(3):929-952
[19] 易朝辉,管琳. 学者创业角色、创业导向与大学衍生企业创业绩效[J]. 科研管理, 2018,39(11):166-176
[20] Barney J. Firm Resources and Sustained Competitive Advantage[J]. Journal of Management, 1991,17(1):99-120
[21] 林嵩. 创业资源的获取与整合——创业过程的一个解读视角[J]. 经济问题探索, 2007,(6):166-169
[22] 蔡莉,柳青. 新创企业资源整合过程模型[J]. 科学学与科学技术管理, 2007,(2):95-102
[23] 林嵩,刘小元. 创业活动活跃程度的先决变量:创业情境的视角[J]. 管理评论, 2013,25(8):64-76
[24] 张云逸,曾刚. 基于三螺旋模型的高校衍生企业形成机制研究——以上海高校衍生企业为例[J]. 科技管理研究, 2009,29(8):207-209
[25] Hannan M. T., Freeman J. The Population Ecology of Organizations[J]. American Journal of Sociology, 1977,82(5):929-964
[26] Moore J. F. Predators and Prey:A New Ecology of Competition[J]. Harvard Business Review, 1993,71(3):75-83
[27] Iansiti M., Levien R. Strategy As Ecology[J]. Harvard Business Review, 2003,82(3):68-126
[28] Porter M. E. Competitive Advantage:Creating and Sustaining Superior Performance[M]. Free Press:New York, 1985
[29] Adner R., Kapoor R. Value Creation in Innovation Ecosystems:How the Structure of Technological Interdependence Affects Firm Performance in New Technology Generations[J]. Strategic Management Journal, 2010,31(3):306-333
[30] Adner R. Ecosystem as Structure:An Actionable Construct for Strategy[J]. Journal of Management, 2017,43(1):39-58
[31] 蔡莉,彭秀青,Nambisan S.,等. 创业生态系统研究回顾与展望[J]. 吉林大学社会科学学报, 2016,56(1):5-16
[32] 胡京波,欧阳桃花,曾德麟,等. 创新生态系统的核心企业创新悖论管理案例研究:双元能力视角[J]. 管理评论, 2018,30(8):291-305
[33] Jacobides M. G., Cennamo C., Gawer A. Towards a Theory of Ecosystems[J]. Strategic Management Journal, 2018,39(8):2255-2276
[34] Meng D., Li X., Rong K. Industry-To-University Knowledge Transfer in Ecosystem-Based Academic Entrepreneurship:Case Study of Automotive Dynamics & Control Group in Tsinghua University[J]. Technological Forecasting and Social Change, 2019,141:249-262
[35] Hitt M. A., Ireland R. D., Sirmon D. G., et al. Strategic Entrepreneurship:Creating Value for Individuals, Organizations, and Society[J]. Academy of Management Perspectives, 2011,25(2):57-75
[36] Aw B. Y., Batra G. Technological Capability and Firm Efficiency in Taiwan (China)[J]. World Bank Economic Review, World Bank Group, 1998,12(1):59-79
[37] Tsai K-H. The Impact of Technological Capability on Firm Performance in Taiwan's Electronics Industry[J]. The Journal of High Technology Management Research, 2004,15(2):183-195
[38] Ortega M. J. R. Competitive Strategies and Firm Performance:Technological Capabilities' Moderating Roles[J]. Journal of Business Research, 2010,63(12):1273-1281
[39] Cohen W. M., Levinthal D. A. Absorptive Capacity:A New Perspective on Learning and Innovation[J]. Administrative Science Quarterly, 1990,35(1):128-152
[40] 闫泽斌,杨治,周南. 企业技术能力对外部技术利用的影响[J]. 管理评论, 2017,29(7):46-60
[41] Zhou K. Z., Wu F. Technological Capability, Strategic Flexibility, and Product Innovation[J]. Strategic Management Journal, 2009,31(5):547-561
[42] Cassiman B., Veugelers R. In Search of Complementarity in Innovation Strategy:Internal R&D and External Knowledge Acquisition[J]. Management Science, 2006,52(1):68-82
[43] Rothaermel F. T., Deeds D. L. Exploration and Exploitation Alliances in Biotechnology:A System of New Product Development[J]. Strategic Management Journal, 2004,25(3):201-221
[44] Pandit S., Wasley C. E., Zach T. The Effect of Research and Development (R&D) Inputs and Outputs on the Relation Between the Uncertainty of Future Operating Performance and R&D Expenditures[J]. Journal of Accounting, Auditing & Finance, 2011,26(1):121-144
[45] Friedman J., Silberman J. University Technology Transfer:Do Incentives, Management, and Location Matter?[J]. Journal of Technology Transfer, 2003,28(1):17-30
[46] 刘小元,林嵩,李汉军. 创业导向、家族涉入与新创家族企业成长[J]. 管理评论, 2017,29(10):42-57
[47] Roberts E. B., Malonet D. E. Policies and Structures for Spinning off New Companies from Research and Development Organizations[J]. R&D Management, 1996,26(1):17-48
[48] O'Shea R. P., Chugh H., Allen T. J. Determinants and Consequences of University Spinoff Activity:A Conceptual Framework[J]. The Journal of Technology Transfer, 2008,33(6):653-666
[49] 李雯,夏清华. 大学衍生企业的创业支持网络研究——构成要素及有效性[J]. 科学学研究, 2013,31(5):742-750
[50] Glaeser E. L., Kerr W. R. Local Industrial Conditions and Entrepreneurship:How Much of the Spatial Distribution Can We Explain?[J]. Journal of Economics, 2009,18(3):623-663
[51] Baba Y., Shichijo N., Sedita S. R. How do Collaborations With Universities Affect Firms' Innovative Performance? The Role of "Pasteur Scientists" in the Advanced Materials Field[J]. Research Policy, 2009,38(5):756-764
[52] Jain S., George G., Maltarich M. Academics or Entrepreneurs? Investigating Role Identity Modification of University Scientists Involved in Commercialization Activity[J]. Research Policy, 2009,38(6):922-935
[53] Teece D. J. Profiting from Technological Innovation:Implications for Integration, Collaboration, Licensing and Public Policy[J]. Research Policy, 1986,15(6):285-305
[54] 欧阳桃花,王钧,胡京波. 基于互补性资产的软件企业云计算技术变革研究——以中标软件为案例[J]. 管理评论, 2018,30(6):251-264
[55] Powell W. W., Koput K. W., Smith-Doerr L. Interorganizational Collaboration and the Locus of Innovation:Networks of Learning in Biotechnology[J]. Administrative Science Quarterly, 1996,41(1):116-145
[56] 彭学兵,王乐,刘玥伶,等. 效果推理决策逻辑下创业资源整合与新创企业绩效的关系研究[J]. 管理评论, 2019,31(8):123-131
[57] Saxenian A. Regional Advantage:Culture and Competition in Silicon Valley and Route 128[M]. Cambridge, Massachusetts; London, England:Harvard University Press, 1996
[58] Shipilov A., Gawer A. Integrating Research on Inter-Organizational Networks and Ecosystems[J]. The Academy of Management Annals, 2020,14(1):92-121
[59] 柳卸林,孙海鹰,马雪梅. 基于创新生态观的科技管理模式[J]. 科学学与科学技术管理, 2015,36(1):18-27
[60] Adner R. Match Your Innovation Strategy to Your Innovation Ecosystem[J]. Harvard Business Review, 2006,84(4):98-107
[61] Choi H., Anadón L. D. The Role of The Complementary Sector and Its Relationship with Network Formation and Government Policies in Emerging Sectors:The Case of Solar Photovoltaics between 2001 and 2009[J]. Technological Forecasting and Social Change, 2014,82:80-94
[62] Ethiraj S. K. Allocation of Inventive Effort in Complex Product Systems[J]. Strategic Management Journal, 2007,28(6):563-584
[63] Rothaermel F. T., Deeds D. L. Alliance Type, Alliance Experience and Alliance Management Capability in High-Technology Ventures[J]. Journal of Business Venturing, 2006,21(4):429-460
[64] Sears J., Hoetker G. Technological Overlap, Technological Capabilities, and Resource Recombination in Technological Acquisitions[J]. Strategic Management Journal, 2014,35(1):48-67
[65] 任荆学,吕萍,柳卸林. 中科院技术衍生企业创立动机与成果转化关系研究[J]. 科技进步与对策, 2013,30(2):88-92
[66] 刘二军. 中国科学院创立技术衍生公司的模式研究[J]. 科研管理, 2010,31(3):44-51
[67] 程德理. 技术创业与专利制度作用实证研究[J]. 科学学研究, 2019,37(1):95-103
[68] Ensley M. D., Pearson A. W., Amason A. C. Understanding the Dynamics of New Venture Top Management Teams:Cohesion, Conflict, and New Venture Performance[J]. Journal of Business Venturing, 2002,17(4):365-386
[69] Aiken L., West S., Reno R. Multiple Regression:Testing and Interpreting Interactions[M]. CA:Sage Publications, Inc., 1991
[70] Rasmussen E., Borch O. J. University Capabilities in Facilitating Entrepreneurship:A Longitudinal Study of Spin-off Ventures at Mid-Range Universities[J]. Research Policy, 2010,39(5):602-612
[71] 柳卸林,马雪梅,高雨辰,等. 企业创新生态战略与创新绩效关系的研究[J]. 科学学与科学技术管理, 2016,37(8):102-115
[72] Autio E., Thomas L. D. W. Innovation Ecosystems:Implications for Innovation Management[M]. In Dodgson M., Gann D., Phillips N.(Eds.). The Oxford Handbook of Innovation Management. Oxford:Oxford University Press, 2014
[73] Gao Y., Liu X., Ma X. How do Firms Meet the Challenge of Technological Change by Redesigning Innovation Ecosystem? A Case Study of IBM[J]. International Journal of Technology Management, 2019,80(3-4):241-265