TY - JOUR AU - Power, Bernadette AU - Reid, Gavin C. PY - 2021/12/09 Y2 - 2024/03/28 TI - An innovation adoption model of licensing-in for US start-ups JF - Economics and Business Letters JA - Econ Bus Lett VL - 10 IS - 4 SE - Articles DO - 10.17811/ebl.10.4.2021.369-382 UR - https://reunido.uniovi.es/index.php/EBL/article/view/15939 SP - 369-382 AB - <p>Using the Kauffman panel dataset of US start-ups, we analyse the key determinants of<br />licensing-in adoption. Licensing-in entails an intellectual property contract between the licensor<br />(e.g. upstream established firm) and licensee (e.g. downstream start-up) aiming to bring an<br />innovation to market rapidly. Assuming maximizing of the owner’s managerial utility in the<br />start-up years, we explain licensing-in adoption through firm characteristics like size, R&amp;D and<br />capital structure, as well as other IP types, and controls for year and regional fixed effects, using<br />panel probit estimation with adjustments for sample selection bias and endogeneity. We find<br />key determinants of licensing-in to be owners’ equity, product (rather than service) sales and<br />R&amp;D spend; and then comment on their policy implications for business incubation.</p> ER -