Determinants of universities’ spin-off creations

Figures & data

Table 1. Selected studies on the factors promoting the creation of university spin-offs.

Contributory factors	Studies
Rewards	Etzkowitz et al. (2019); Hayter et al. (2018)
Patent policies and technology transfer	Lai (2021); M’chirgui et al. (2018)
Spin offs	Ramaciotti and Rizzo (2015); Odei et al. (2021)
Investment funding	Bodolica and Spraggon (2021); Mosey et al. (2017)

Source: Authors’ compilation.

Table 2. Descriptive statistics.

	N	Min	Max	Mean	Std. deviation
Public funding	164	0	72476	5875.94	11788.360
Collaborative contribution—Cash	164	0	21261	754.96	2261.615
Collaborative contribution—In kind	164	0	30962	1731.97	5065.928
Number of disclosures	164	0	394	26.72	60.512
Number of new patents applications filed in year	164	0	258	12.91	33.564
Number of patents granted in year	164	0	321	10.41	32.952
Cumulative patent portfolio	164	0	3609	125.29	375.868
Spin-offs with some HEP ownership	164	0	70	5.57	11.030
Formal spin-offs, not HEP owned	164	0	36	1.54	4.158
Staff start-ups	164	0	59	2.79	8.103
Rewards	164	0	1	.79	.407

Source: Authors’ computation.

Table 3. Reliability and validity measurements.

Constructs	Indicators	Loadings	AVE	VIF	Dijkstra– Henseler’s rho (ρA)
Spin offs	Spin off 1	0.911	0.617	1.524	0.825
	Spin off 2	0.797		1.533
	Spin off 3	0.620		1.232
Patents	Patent 1	0.869	0.821	2.634	0.948
	Patent 2	0.919		4.038
	Patent 3	0.926		6.745
	Patent 4	0.910		5.284
Funding	Funding 1	0.886	0.630	1.499	0.835
	Funding 2	0.718		1.378
	Funding 3	0.768		1.360
Rewards	Reward 1	1.000	1.000	1.000	1.000

Source: Authors’ computation.

Note: AVE = average variance extracted, VIF = variance inflation factor.

Figure 1. A conceptual framework.

Source: Authors’ creation.

Figure 2. Graphical representation of the structural model.

Source: Authors’ computation.

Note: *** Parameter significant at 99% level, ** significant at 95% level, * significant at 90% level.

Table 4. Results of structural model.

Effect overviews	Original coefficients	Mean values	Standard errors	t-values	p-values	Cohen’s f2	Decision
Patent -> Spin Off	0.593	0.593	0.118	5.029	0.001***	0.724	Accepted
Funding -> Spin Off	0.299	0.307	0.131	2.291	0.022*	0.186	Accepted
Funding -> Patent	0.593	0.632	0.086	6.892	0.001***	0.553	Accepted
Rewards -> Spin Off	0.095	0.083	0.031	3.041	0.002***	0.029	Accepted
Rewards -> Patent	0.101	0.092	0.042	2.390	0.017*	0.016	Accepted

Source: Authors’ computation.

Note: *p < 0.05, **p < 0.01, ***p < 0.001.

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