Using a random sample of 221 new Swedish ventures initiated in 1998, we examine why some new ventures are more likely than others to successfully be awarded capital from external sources. We examine venture financing as a staged selection process in which two sequential selection events...

Many research universities engage in efforts to license inventions developed by university-affiliated inventors. However, no systematic explanation of the conditions under which university inventions will be licensed or commercialized has been provided. Drawing on transaction cost economics, I...

Many young firms use strategic actions to attract partners who help them increase the size of their operations quickly. This article examines the use of strategic actions to attract partners and increase system size in the context of franchising. We build on research in entrepreneurship,...

Technology licensing officers play an important role in the creation of university spinoffs. Anecdotal data suggests that licensing officers make use of the representativeness heuristic when deciding which inventors’ technologies should (not) be commercialized through the founding of new...

Since the Great Recession, bank lending to small businesses has fallen significantly, and policymakers have become concerned that these businesses are not getting the credit they need. Many reasons have been suggested for the decline. Our analysis shows that it has multiple sources, which means...

In this unique and timely volume, Scott Shane systematically explains the formation of university spinoff companies and their role in the commercialization of university technology and wealth creation in the United States and elsewhere. The importance of university spinoff activity is discussed...