This paper takes a different perspective toward the escape entry incentive of incumbent firms to innovate. New entrants spawned from incumbents are not necessarily a threat; they can complement incumbents’ production by commercializing knowledge incumbents are not willing or able to exploit....

Using a new dataset encompassing more than 2,200 inventions made by Max Planck Society researchers from 1980 to 2004, we explore how licensee and technology characteristics affect the licensing and commercialization of technologies from public research. We find no evidence that spin-offs and...

This study examines how different organizational learning strategies (i.e., exploration or exploitation) impact the sales growth of technology spin-outs, and the role of the parent firm in this context. Using knowledge-based and learning views of the firm, we propose that spin-out performance...