Skip to main content
SpringerLink
Log in

Drivers and implications of entrepreneurial orientation for academic spin-offs

  • Published:
International Entrepreneurship and Management Journal Aims and scope Submit manuscript

Abstract

This paper has been designed with a dual goal. On the one hand, the paper aims to examine the role of management teams, industry agents, and university agents as providers of a series of key resources and capabilities for academic spin-offs (ASOs) to develop a strategic entrepreneurial orientation (EO). On the other hand, the paper also examines the influence of EO on ASO performance. To this end, an extensive review was conducted based on Resource Based View (RBV), EO, and ASO literature. The assumptions of these frameworks were explored in an empirical study involving 107 Spanish ASOs backed by the Spanish Technology Transfer Offices (TTOs). The findings from multilevel linear regression suggest that the presence of non-academic managers within ASO management teams, the achievement of external funding through VC firms, and the TTO efficacy exert a positive influence on the exhibition of higher levels of EO by ASOs. Regarding the relationship between the EO and the performance exhibited by ASOs, the results of multiple regression analysis reveal that ASO performance is strongly and positively influenced by the level of EO exhibited by the firm. The contributions of the paper expand the traditional focus of EO research and attend to the demands of both EO and ASO research, thereby offering a contextualized analysis of both the factors that enhance the EO of ASOs as well as the impact of EO on ASO performance.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1

Similar content being viewed by others

References

  • Adomako, S., Narteh, B., Danquah, J. K., & Analoui, F. (2016). Entrepreneurial orientation in dynamic environments: The moderating role of extra-organizational advice. International Journal of Entrepreneurial Behavior & Research, 22(5), 616–642.

    Google Scholar 

  • Alam, S. S., Mohd, R., Kamaruddin, B. H., & Nor, N. G. M. (2015). Personal values and entrepreneurial orientations in Malay entrepreneurs in Malaysia: Mediating role of self-efficacy. International Journal of Commerce and Management, 25(4), 385–401.

    Google Scholar 

  • Amason, A. C. (1996). Distinguishing the effects of functional and dysfunctional conflict on strategic decision making: Resolving a paradox for top management teams. Academy of Management Journal, 39(1), 123–148.

    Google Scholar 

  • Balboa, M., Martí, J., & Zieling, N. (2011). Impact of funding and value added on Spanish venture capital-backed firms. Innovation: The European Journal of Social Science Research, 24(4), 449–466.

    Google Scholar 

  • Barkema, H. G., & Shvyrkov, O. (2007). Does top management team diversity promote or hamper foreign expansion? Strategic Management Journal, 28(7), 663–680.

    Google Scholar 

  • Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.

    Google Scholar 

  • Baroncelli, A., & Landoni, M. (2019). Imitation and entrepreneurial learning: Insights from academic spin-offs. Industry and Higher Education, 33(4), 233–245.

    Google Scholar 

  • Bekkers, R., Gilsing, V., & Oteen, M. (2006). Determining factors of the effectiveness of IP-based spin-offs: Comparing the Netherlands and the US. The Journal of Technology Transfer, 31(5), 545–566.

    Google Scholar 

  • Ben-Hafaïedh, C., Micozzi, A., & Pattitoni, P. (2018). Academic spin-offs’ entrepreneurial teams and performance: A subgroups approach. The Journal of Technology Transfer, 43(3), 714–733.

    Google Scholar 

  • Berbegal-Mirabent, J., Ribeiro-Soriano, D. E., & García, J. L. (2015). Can a magic recipe foster university spin-off creation? Journal of Business Research, 68(11), 2272–2278.

    Google Scholar 

  • Bertoni, F., Colombo, M. G., & Grilli, L. (2011). Venture capital financing and the growth of high-tech start–ups: Disentangling treatment from selection effects. Research Policy, 40(7), 1028–1043.

    Google Scholar 

  • Bigdeli, A. Z., Li, F., & Shi, X. (2016). Sustainability and scalability of university spinouts: A business model perspective. R&D Management, 46(3), 504–518.

    Google Scholar 

  • Bigliardi, B., Galati, F., & Verbano, C. (2013). Evaluating performance of university spin-off companies: Lessons from Italy. Journal of Technology Management & Innovation, 8(2), 178–188.

    Google Scholar 

  • Bikhchandani, S., Hirshleifer, D., & Welch, I. (1998). Learning from the behavior of others: Conformity, fads, and infor- mational cascades. Journal of Economic Perspectives, 12, 151–170.

    Google Scholar 

  • Bjørnåli, E. S. (2009). Board of directors, top management team and the development of academic spin-off companies. Trondheim: Norwegian University of Science and Technology.

    Google Scholar 

  • Bock, C., Huber, A., & Jarchow, S. (2018). Growth factors of research-based spin-offs and the role of venture capital investing. The Journal of Technology Transfer, 43(5), 1375–1409.

    Google Scholar 

  • Boso, N., Oghazi, P., Cadogan, J. W., & Story, V. (2016). Entrepreneurial and market-oriented activities, financial capital, environment turbulence, and export performance in an emerging economy. Journal of Small Business Strategy, 26(1), 1–24.

    Google Scholar 

  • Bruining, H., & Wright, M. (2002). Entrepreneurial orientation in management buy-outs and the contribution of venture capital. Venture Capital: An International Journal of Entrepreneurial Finance, 4(2), 147–168.

    Google Scholar 

  • Canina, L., Palacios, D., & Devece, C. (2012). Management theories linking individual and organizational level analysis in entrepreneurship research. International Entrepreneurship and Management Journal, 8(3), 271–284.

    Google Scholar 

  • Cao, Q., Simsek, Z., & Jansen, J. J. (2015). CEO social capital and entrepreneurial orientation of the firm: Bonding and bridging effects. Journal of Management, 41(7), 1957–1981.

    Google Scholar 

  • Cassia, L., & Minola, T. (2012). Hyper-growth of SMEs: Toward a reconciliation of entrepreneurial orientation and strategic resources. International Journal of Entrepreneurial Behavior & Research, 18(2), 179–197.

    Google Scholar 

  • Cesaroni, F., & Piccaluga, A. (2016). The activities of university knowledge transfer offices: Towards the third mission in Italy. The Journal of Technology Transfer, 4(4), 753–777.

    Google Scholar 

  • Chen, J. Y.-J., & Urban, B. (2019). Behavioral and environmental influences on entrepreneurial orientation. Journal of Economics and Behavioral Studies, 10(5), 73–88.

    Google Scholar 

  • Chiesa, V., & Piccaluga, A. (2000). Exploitation and diffusion of public research: The case of academic spin-off companies in Italy. R&D Management, 30(4), 329–340.

    Google Scholar 

  • Chirico, F., Sirmon, D. G., Sciascia, S., & Mazzola, P. (2011). Resource orchestration in family firms: Investigating how entrepreneurial orientation, generational involvement, and participative strategy affect performance. Strategic Entrepreneurship Journal, 5(4), 307–326.

    Google Scholar 

  • Clarysse, B., & Moray, N. (2004). A process study of entrepreneurial team formation: The case of a research-based spin-off. Journal of Business Venturing, 19(1), 55–79.

    Google Scholar 

  • Clarysse, B., Wright, M., Lockett, A., Van de Velde, E., & Vohora, A. (2005). Spinning out new ventures: A typology of incubation strategies from European research institutions. Journal of Business Venturing, 20(2), 183–216.

    Google Scholar 

  • Clarysse, B., Tartari, V., & Salter, A. (2011). The impact of entrepreneurial capacity, experience and organizational support on academic entrepreneurship. Research Policy, 40(8), 1084–1093.

    Google Scholar 

  • Cohen, A., Doveh, E., & Nahum-Shani, I. (2009). Testing agreement for multi-item scales with the indices rWG(J) and ADM (J). Organizational Research Methods, 12(1), 148–164.

    Google Scholar 

  • Colombo, M. G., & Grilli, L. (2005). Founders’ human capital and the growth of new technology-based firms: A competence-based view. Research Policy, 34(6), 795–816.

    Google Scholar 

  • Colombo, M. G., & Grilli, L. (2010). On growth drivers of high-tech start-ups: Exploring the role of founders' human capital and venture capital. Journal of Business Venturing, 25(6), 610–626.

    Google Scholar 

  • Covin, J. G., & Slevin, D. P. (1989). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 10, 75–87.

    Google Scholar 

  • Cunningham, J. A., & O’Reilly, P. (2018). Macro, meso and micro perspectives of technology transfer. The Journal of Technology Transfer, 43(3), 545–557.

    Google Scholar 

  • De Cleyn, S. H., Braet, J., & Klofsten, M. (2015). How human capital interacts with the early development of academic spin-offs. International Entrepreneurship and Management Journal, 11(3), 599–621.

    Google Scholar 

  • Dess, G. G., Lumpkin, G. T., & Covin, J. G. (1997). Entrepreneurial strategy making and firm performance: Tests of contingency and configurational models. Strategic Management Journal, 18(9), 677–695.

    Google Scholar 

  • Diánez-González, J. P., & Camelo-Ordaz, C. (2016). How management team composition affects academic spin-offs' entrepreneurial orientation: The mediating role of conflict. The Journal of Technology Transfer, 41(3), 530–557.

    Google Scholar 

  • Diánez-González, J. P., & Camelo-Ordaz, C. (2019). The influence of the structure of social networks on academic spin-offs’ entrepreneurial orientation. Industrial Marketing Management, 80, 84–98.

    Google Scholar 

  • Djokovic, D., & Souitaris, V. (2008). Spinouts from academic institutions: A literature review with suggestions for further research. The Journal of Technology Transfer, 33(3), 225–247.

    Google Scholar 

  • Dorner, M., Fryges, H., & Schopen, K. (2017). Wages in high-tech start-ups–do academic spin-offs pay a wage premium? Research Policy, 46(1), 1–18.

    Google Scholar 

  • Ensley, M. D., & Hmieleski, K. M. (2005). A comparative study of new venture top management team composition, dynamics and performance between university-based and independent start ups. Research Policy, 34(7), 1091–1105.

    Google Scholar 

  • Eshima, Y., & Anderson, B. S. (2017). Firm growth, adaptive capability, and entrepreneurial orientation. Strategic Management Journal, 38(3), 770–779.

    Google Scholar 

  • Fernández-Alles, M. L., Camelo-Ordaz, C., & Franco-Leal, N. (2015). Key resources and actors for the evolution of academic spin-offs. The Journal of Technology Transfer, 40(6), 976–1002.

    Google Scholar 

  • Fini, R., Grimaldi, R., Santoni, S., & Sobrero, M. (2011). Complements or substitutes? The role of universities and local context in supporting the creation of academic spin-offs. Research Policy, 40(8), 1113–1127.

    Google Scholar 

  • Finkelstein, S., & Hambrick, D. C. (1996). Strategic leadership. St. Paul: West.

    Google Scholar 

  • Frank, H., Kessler, A., & Fink, M. (2010). Entrepreneurial orientation and business performance. A replication study. Schmalenbach Business Review (SBR), 62(2), 175–198.

    Google Scholar 

  • Gómez-Gras, J. M., Lapera, D. R. G., Solves, I. M., Jover, A. J. V., & Azuar, J. S. (2008). An empirical approach to the organisational determinants of spin–off creation in European universities. International Entrepreneurship and Management Journal, 4(2), 187–198.

    Google Scholar 

  • Hambrick, D. C., Li, J., Xin, K., & Tsui, A. S. (2001). Compositional gaps and downward spirals in international joint venture management groups. Strategic Management Journal, 22(11), 1033–1105.

    Google Scholar 

  • Hamel, G. (2000). Leading the revolution. Cambridge: Harvard University Press.

    Google Scholar 

  • Hamilton, L. C. (2006). Statistics with Stata (updated for version 9). Belmont: Thomson–Brooks/Cole.

    Google Scholar 

  • Heisey, P. W., & Adelman, S. W. (2011). Research expenditures, technology transfer activity, and university licensing revenue. The Journal of Technology Transfer, 36(1), 38–60.

    Google Scholar 

  • Hellmann, T., & Puri, M. (2002). Venture capital and the professionalization of start-up firms: Empirical evidence. The Journal of Finance, 57(1), 169–197.

    Google Scholar 

  • Helm, R., Mauroner, O., & Dowling, M. (2010). Innovation as mediator between entrepreneurial orientation and spin-off venture performance. International Journal of Entrepreneurship and Small Business, 11(4), 472–491.

    Google Scholar 

  • Hirai, Y., Watanabe, T., & Inuzuka, A. (2013). Empirical analysis of the effect of Japanese university spinoffs' social networks on their performance. Technological Forecasting and Social Change, 80(6), 1119–1128.

    Google Scholar 

  • Hirst, G., Van Knippenberg, D., & Zhou, J. (2009). A cross-level perspective on employee creativity: Goal orientation, team learning behavior, and individual creativity. Academy of Management Journal, 52(2), 280–293.

    Google Scholar 

  • Hofmann, D. A., Griffin, M. A., & Gavin, M. B. (2000). The application of hierarchical linear modeling to organizational research. In K. J. Klein & S. W. Kozlowski (Eds.), Multi-level theory, research, and methods in organizations: Foundations, extensions, and new directions (pp. 467–511). San Francisco: Jossey-Bass.

    Google Scholar 

  • Hsu, D. H. (2006). Venture capitalists and cooperative start-up commercialization strategy. Management Science, 52(2), 204–219.

    Google Scholar 

  • Hughes, M., & Morgan, R. E. (2007). Deconstructing the relationship between entrepreneurial orientation and business performance at the embryonic stage of firm growth. Industrial Marketing Management, 36(5), 651–661.

    Google Scholar 

  • James, L. R., Demaree, R. G., & Wolf, G. (1993). R wg: An assessment of within-group interrater agreement. Journal of Applied Psychology, 78(2), 306–309.

    Google Scholar 

  • Keh, H. T., Nguyen, T. T. M., & Ng, H. P. (2007). The effects of entrepreneurial orientation and marketing information on the performance of SMEs. Journal of Business Venturing, 22(4), 592–611.

    Google Scholar 

  • Khadhraoui, M., Lakhal, L., Plaisent, M., & Bernard, P. (2016). The impact of entrepreneurial orientation on performance and customer satisfaction: The moderator effect of network capabilities. Journal of Economic Development, Management, IT, Finance & Marketing, 8(2), 66–76.

    Google Scholar 

  • Khadhraoui, M., Plaisent, M., Lakhal, L., & Prosper, B. (2019). The impact of entrepreneurial orientation on spin-offs’ performance: A cross-cultural study. SAGE Open, 9(3). https://doi.org/10.1177/2158244019865817.

  • Knockaert, M., Ucbasaran, D., Wright, M., & Clarysse, B. (2011). The relationship between knowledge transfer, top management team composition, and performance: The case of science-based entrepreneurial firms. Entrepreneurship Theory and Practice, 35(4), 777–803.

    Google Scholar 

  • Kolb, C., & Wagner, M. (2018). How university spin-offs differ in composition and interaction: A qualitative approach. The Journal of Technology Transfer, 43(3), 734–759.

    Google Scholar 

  • Kortum, S., & Lerner, J. (2000). Assessing the contribution of venture capital to innovation. RAND Journal of Economics, 31(4), 674–692.

    Google Scholar 

  • Lau, D. C., & Murnighan, J. K. (1998). Demographic diversity and faultlines: The compositional dynamics of organizational groups. Academy of Management Review, 23(2), 325–340.

    Google Scholar 

  • Li, C. Y. (2012). The influence of entrepreneurial orientation on technology commercialization: The moderating roles of technological turbulence and integration. African Journal of Business Management, 6(1), 370–387.

    Google Scholar 

  • Li, J., & Hambrick, D. C. (2005). Factional groups: A new vantage on demographic faultlines, conflict, and disintegration in work teams. Academy of Management Journal, 48(5), 794–813.

    Google Scholar 

  • Lisboa, A., Skarmeas, D., & Saridakis, C. (2016). Entrepreneurial orientation pathways to performance: A fuzzy-set analysis. Journal of Business Research, 69(4), 1319–1324.

    Google Scholar 

  • Ljungkvist, T., Boers, B., & Samuelsson, J. (2020). Three stages of entrepreneurial orientation: The founder’s role. International Journal of Entrepreneurial Behavior & Research, 26(2), 285–306.

    Google Scholar 

  • Lockett, A., Wright, M., & Franklin, S. (2003). Technology transfer and universities’ spin-out strategies. Small Business Economics, 20(2), 185–200.

    Google Scholar 

  • Lockett, D. S., Wright, M., & Ensley, M. (2005). The creation of spin-off firms at public research institutions: Managerial and policy implications. Research Policy, 34(7), 981–993.

    Google Scholar 

  • Lonial, S. C., & Carter, R. E. (2015). The impact of organizational orientations on medium and small firm performance: A resource-based perspective. Journal of Small Business Management, 53(1), 94–113.

    Google Scholar 

  • Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135–172.

    Google Scholar 

  • Markman, G. D., Phan, P. H., Balkin, D. B., & Gianiodis, P. T. (2005). Entrepreneurship and university-based technology transfer. Journal of Business Venturing, 20(2), 241–263.

    Google Scholar 

  • Martens, C. D. P., Lacerda, F. M., Belfort, A. C., & Freitas, H. M. R. D. (2016). Research on entrepreneurial orientation: Current status and future agenda. International Journal of Entrepreneurial Behavior & Research, 22(4), 556–583.

    Google Scholar 

  • Mathisen, M. T., & Rasmussen, E. (2019). The development, growth, and performance of university spin-offs: A critical review. The Journal of Technology Transfer, 44, 1891–1938. https://doi.org/10.1007/s10961-018-09714-9.

    Article  Google Scholar 

  • Matsuno, K., Mentzer, J. T., & Özsomer, A. (2002). The effects of entrepreneurial proclivity and market orientation on business performance. Journal of Marketing, 66(3), 18–32.

    Google Scholar 

  • McGee, J. E., & Peterson, M. (2019). The long-term impact of entrepreneurial self-efficacy and entrepreneurial orientation on venture performance. Journal of Small Business Management, 57(3), 720–737.

    Google Scholar 

  • Miao, C., Coombs, J. E., Qian, S., & Sirmon, D. G. (2017). The mediating role of entrepreneurial orientation: A meta-analysis of resource orchestration and cultural contingencies. Journal of Business Research, 77, 68–80.

    Google Scholar 

  • Migliori, S., Pittino, D., Consorti, A., & Lucianetti, L. (2019). The relationship between entrepreneurial orientation, market orientation and performance in university spin-offs. International Entrepreneurship and Management Journal, 15(3), 793–814.

    Google Scholar 

  • Miranda, F. J., Chamorro, A., & Rubio, S. (2018). Re-thinking university spin-off: A critical literature review and a research agenda. The Journal of Technology Transfer, 43(4), 1007–1038.

    Google Scholar 

  • Mohd, R., Kamaruddin, B. H., Hassan, S., Muda, M. A. Z. Z. I. N. I., & Yahya, K. K. (2014). The important role of self-efficacy in determining entrepreneurial orientations of Malay small scale entrepreneurs in Malaysia. International Journal of Management Studies, 21, 61–82.

    Google Scholar 

  • Mosey, S., & Wright, M. (2007). From human capital to social capital: A longitudinal study of technology–based academic entrepreneurs. Entrepreneurship Theory and Practice, 31(6), 909–935.

    Google Scholar 

  • Mosey, S., Westhead, P., & Lockett, A. (2007). University technology transfer: Network bridge promotion by the Medici fellowship scheme. Journal of Small Business and Enterprise Development, 14(3), 360–384.

    Google Scholar 

  • Mthanti, T. S., & Urban, B. (2014). Effectuation and entrepreneurial orientation in high-technology firms. Technology Analysis & Strategic Management, 26(2), 121–133.

    Google Scholar 

  • Muscio, A. (2010). What drives the university use of technology transfer offices? Evidence from Italy. The Journal of Technology Transfer, 35(2), 181–202.

    Google Scholar 

  • Naman, J. L., & Slevin, D. P. (1993). Entrepreneurship and the concept of fit: A model and empirical tests. Strategic Management Journal, 14, 137–153.

    Google Scholar 

  • Neves, M., & Franco, M. (2018). Academic spin-off creation: Barriers and how to overcome them. R&D Management, 48(5), 505–518.

    Google Scholar 

  • Ni, H., Luan, T., Cao, Y., & Finlay, D. C. (2014). Can venture capital trigger innovation? New evidence from China. International Journal of Technology Management, 65(1–4), 189–214.

    Google Scholar 

  • Nunnally, J. C., & Bernstein, I. H. (1994). Psychological theory. New York: McGraw Hill.

    Google Scholar 

  • O’Gorman, C., Byrne, O., & Pandya, D. (2008). How scientists commercialise new knowledge via entrepreneurship. The Journal of Technology Transfer, 33(1), 23–43.

    Google Scholar 

  • O’Shea, R. P., Chugh, H., & Allen, T. J. (2008). Determinants and consequences of university spinoff activity: A conceptual framework. The Journal of Technology Transfer, 33(6), 653–666.

    Google Scholar 

  • Olofsson, C., & Wahlbin, C. (1984). Technology-based new ventures from technical universities: A Swedish case. In J. A. Hornaday, F. Tarpley, J. A. Timmons, & K. H. Vesper (Eds.), Frontiers of entrepreneurship research (pp. 192–211). Wellesley: Babson College.

    Google Scholar 

  • O'Shea, R. P., Allen, T. J., Chevalier, A., & Roche, F. (2005). Entrepreneurial orientation, technology transfer and spinoff performance of US universities. Research Policy, 34(7), 994–1009.

    Google Scholar 

  • O'Shea, R. P., Allen, T. J., Morse, K. P., O'Gorman, C., & Roche, F. (2007). Delineating the anatomy of an entrepreneurial university: The Massachusetts Institute of Technology experience. R&D Management, 37(1), 1–16.

    Google Scholar 

  • Ozmel, U., Reuer, J. J., & Gulati, R. (2013). Signals across multiple networks: How venture capital and alliance networks affect interorganizational collaboration. Academy of Management Journal, 56(3), 852–866.

    Google Scholar 

  • Packalen, K. A. (2007). Complementing capital: The role of status, demographic features, and social capital in founding teams' abilities to obtain resources. Entrepreneurship Theory & Practice, 31(6), 873–891.

    Google Scholar 

  • Pérez, M. P., & Sánchez, A. M. (2003). The development of university spin-offs: Early dynamics of technology transfer and networking. Technovation, 23(10), 823–831.

    Google Scholar 

  • Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), 179–191.

    Google Scholar 

  • Phan, P. H., & Siegel, D. S. (2006). The effectiveness of university technology transfer. Foundations and Trends in Entrepreneurship, 2(2), 77–144.

    Google Scholar 

  • Pittino, D., Visintin, F., & Lauto, G. (2017). A configurational analysis of the antecedents of entrepreneurial orientation. European Management Journal, 35(2), 224–237.

    Google Scholar 

  • Podsakoff, P., MacKenzie, M., Scott, B., & Lee, J. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903.

    Google Scholar 

  • Poon, J. M., Ainuddin, R. A., & Junit, S. O. H. (2006). Effects of self-concept traits and entrepreneurial orientation on firm performance. International Small Business Journal, 24(1), 61–82.

  • Pratono, A. H., & Mahmood, R. (2015). Entrepreneurial orientation and firm performance: How can micro, small and medium-sized enterprises survive environmental turbulence? Pacific Science Review B: Humanities and Social Sciences, 1(2), 85–91.

    Google Scholar 

  • Prokop, D., Huggins, R., & Bristow, G. (2019). The survival of academic spinoff companies: An empirical study of key determinants. International Small Business Journal: Researching Entrepreneurhsip. https://doi.org/10.1177/0266242619833540.

  • Rasmussen, E., Mosey, S., & Wright, M. (2015). The transformation of network ties to develop entrepreneurial competencies for university spin-offs. Entrepreneurship and Regional Development, 2(7–8), 430–457.

    Google Scholar 

  • Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M. (2009). Entrepreneurial orientation and business performance: An assessment of past research and suggestions for the future. Entrepreneurship Theory & Practice, 33(3), 761–787.

    Google Scholar 

  • Renko, M., Carsrud, A., & Brännback, M. (2009). The effect of a market orientation, entrepreneurial orientation, and technological capability on innovativeness: A study of young biotechnology ventures in the United States and in Scandinavia. Journal of Small Business Management, 47(3), 331–369.

    Google Scholar 

  • Ripollés, M., & Blesa, A. (2005). Personal networks as fosterers of entrepreneurial orientation in new ventures. The International Journal of Entrepreneurship and Innovation, 6(4), 239–248.

    Google Scholar 

  • Robertson, C., & Chetty, S. K. (2000). A contingency-based approach to understanding export performance. International Business Review, 9(2), 211–235.

    Google Scholar 

  • Rodenberger, C., & McCray, J. (1981). Start ups from a large university in a small town. In J. A. Hornaday, F. Tarpley, J. A. Timmons, & K. H. Vesper (Eds.), Frontiers of entrepreneurship research (pp. 84–91). Babson College: Wellesley.

    Google Scholar 

  • Rodrigo-Alarcón, J., García-Villaverde, P. M., Ruiz-Ortega, M. J., & Parra-Requena, G. (2018). From social capital to entrepreneurial orientation: The mediating role of dynamic capabilities. European Management Journal, 36(2), 195–209.

    Google Scholar 

  • Rodríguez-Gulías, M. J., Rodeiro-Pazos, D., & Fernández-López, S. (2017). The effect of university and regional knowledge spillovers on firms’ performance: An analysis of the Spanish USOs. International Entrepreneurship and Management Journal, 13(1), 191–209.

    Google Scholar 

  • Rodríguez-Gulías, M. J., Rodeiro-Pazos, D., Fernández-López, S., Corsi, C., & Prencipe, A. (2018). The role of venture capitalist to enhance the growth of Spanish and Italian university spin-offs. International Entrepreneurship and Management Journal, 14(4), 1111–1130.

    Google Scholar 

  • Roininen, S., & Ylinenpää, H. (2009). Schumpeterian versus Kirznerian entrepreneurship: A comparison of academic and non-academic new venturing. Journal of Small Business and Enterprise Development, 16(3), 504–520.

    Google Scholar 

  • Ruiz-Ortega, M. J., Parra-Requena, G., García-Villaverde, P. M., & Rodrigo-Alarcon, J. (2017). How does the closure of interorganizational relationships affect entrepreneurial orientation? Business Research Quarterly, 20(3), 178–191.

    Google Scholar 

  • Runyan, R., Droge, C., & Swinney, J. (2008). Entrepreneurial orientation versus small business orientation: What are their relationships to firm performance? Journal of Small Business Management, 46(4), 567–588.

    Google Scholar 

  • Sá, C., & Lee, H. (2012). Science, business, and innovation: Understanding networks in technology-based incubators. R&D Management, 42(3), 243–253.

    Google Scholar 

  • Sætre, A. S., Wiggins, J., Atkinson, O. T., & Atkinson, B. K. E. (2009). University spin-offs as technology transfer: A comparative study among Norway, the United States, and Sweden. Comparative Technology Transfer and Society, 7(2), 115–145.

    Google Scholar 

  • Sarasvathy, S. M. (2008). Effectuation: Elements of entrepreneurial expertise. Northampton: Edward Elgar.

    Google Scholar 

  • Sciascia, S., D’oria, L., Bruni, M., & Larrañeta, B. (2014). Entrepreneurial orientation in low-and medium-tech industries: The need for absorptive capacity to increase performance. European Management Journal, 32(5), 761–769.

    Google Scholar 

  • Scillitoe, J. L., & Chakrabarti, A. K. (2010). The role of incubator interactions in assisting new ventures. Technovation, 30(3), 155–167.

    Google Scholar 

  • Scuotto, V., Del Giudice, M., García-Pérez, A., Orlando, B., & Ciampi, F. (2019). A spill over effect of entrepreneurial orientation on technological innovativeness: An outlook of universities and research based spin offs. The Journal of Technology Transfer, 1–21. https://doi.org/10.1007/s10961-019-09760-x.

  • Shan, W. (1990). An empirical analysis of organizational strategies by entrepreneurial high-technology firms. Strategic Management Journal, 11(2), 129–139.

    Google Scholar 

  • Shirokova, G., Bogatyreva, K., Beliaeva, T., & Sheila, P. (2016). Entrepreneurial orientation and firm performance in different environmental settings: Contingency and configurational approaches. Journal of Small Business and Enterprise Development, 23(3), 703–727.

    Google Scholar 

  • Siegel, D. S., Veugelers, R., & Wright, M. (2007). Technology transfer offices and commercialization of university intellectual property: Performance and policy implications. Oxford Review of Economic Policy, 23(4), 640–660.

    Google Scholar 

  • Smolka, K. M., Verheul, I., Burmeister-Lamp, K., & Heugens, P. P. (2018). Get it together! Synergistic effects of causal and effectual decision–making logics on venture performance. Entrepreneurship Theory and Practice, 42(4), 571–604.

    Google Scholar 

  • Soetanto, D., & Van Geenhuizen, M. (2019). Life after incubation: The impact of entrepreneurial universities on the long-term performance of their spin-offs. Technological Forecasting and Social Change, 141, 263–276.

    Google Scholar 

  • Soininen, J. S., Puumalainen, K., Sjögrén, H., Syrjä, P., & Durst, S. (2013). Entrepreneurial orientation in small firms–values-attitudes-behavior approach. International Journal of Entrepreneurial Behavior & Research, 19(6), 611–632.

    Google Scholar 

  • Sørheim, R., Øystein Widding, L., Oust, M., & Madsen, Ø. (2011). Funding of university spin-off companies: A conceptual approach to financing challenges. Journal of Small Business and Enterprise Development, 18(1), 58–73.

    Google Scholar 

  • Su, D. J., & Sohn, D. W. (2015). Roles of entrepreneurial orientation and Guanxi network with parent university in start-ups’ performance: Evidence from university spin-offs in China. Asian Journal of Technology Innovation, 23(1), 1–19.

    Google Scholar 

  • Tabachnick, B. G., & Fidell, L. S. (1996). Using multivariate statistics. New York: Harper Collins.

    Google Scholar 

  • Talke, K., Salomo, S., & Kock, A. (2011). Top management team diversity and strategic innovation orientation: The relationship and consequences for innovativeness and performance. Journal of Product Innovation Management, 28(6), 819–832.

    Google Scholar 

  • Tietz, R. (2013). Executive teams in research–based spin–off companies: An empirical analysis of executive team characteristics, strategy, and performance. St-Gallen: Springer Science and Business Media.

    Google Scholar 

  • Vendrell-Herrero, F., & Ortín-Ángel, P. (2010). Evolución comparada de los spin-offs universitarios Españoles. Clm Economía, 16, 345–379.

    Google Scholar 

  • Verbano, C., Crema, M., & Scuotto, V. (2019). Adding the entrepreneurial orientation among the theoretical perspectives to analyse the development of research-based spin-offs. The International Journal of Entrepreneurship and Innovation. https://doi.org/10.1177/1465750319874592.

  • Visintin, F., & Pittino, D. (2014). Founding team composition and early performance of university-based spin-off companies. Technovation, 34(1), 31–43.

    Google Scholar 

  • Vohora, A., Wright, M., & Lockett, A. (2004). Critical junctures in the growth in university high-tech spinout companies. Research Policy, 33, 147–175.

    Google Scholar 

  • Wales, W. J. (2016). Entrepreneurial orientation: A review and synthesis of promising research directions. International Small Business Journal, 34(1), 3–15.

    Google Scholar 

  • Walter, A., Auer, M., & Ritter, T. (2006). The impact of network capabilities and entrepreneurial orientation on university spin-off performance. Journal of Business Venturing, 2(4), 541–567.

    Google Scholar 

  • Wiklund, J. (1999). The sustainability of the entrepreneurial orientation—Performance relationship. Entrepreneurship Theory and Practice, 24(1), 37–48.

    Google Scholar 

  • Wiklund, J., & Shepherd, D. (2003). Knowledge-based resources, entrepreneurial orientation, and the performance of small and medium-sized businesses. Strategic Management Journal, 24(13), 1307–1314.

    Google Scholar 

  • Wiklund, J., & Shepherd, D. A. (2005). Entrepreneurial orientation and small business performance: A configurational approach. Journal of Business Venturing, 20(1), 71–89.

    Google Scholar 

  • Woltman, H., Feldstain, A., MacKay, J. C., & Rocchi, M. (2012). An introduction to hierarchical linear modeling. Tutorials in Quantitative Methods for Psychology, 8(1), 52–69.

    Google Scholar 

  • Wright, M., Lockett, A., Clarysse, B., & Binks, M. (2006). University spin-out companies and venture capital. Research Policy, 35(4), 481–450.

    Google Scholar 

  • Zahra, S., & Covin, J. (1995). Contextual Influ- ences on the corporate entrepreneurship- performance relationship: A longitudinal analysis. Journal of Business Venturing, 10, 43–58.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Business Administration Department, University of Cádiz, Calle Enrique Villegas Vélez, 2–11002, Cádiz, Spain

    Juan Pablo Diánez-González, Carmen Camelo-Ordaz & Mariluz Fernández-Alles

Authors
  1. Juan Pablo Diánez-González
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Carmen Camelo-Ordaz
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Mariluz Fernández-Alles
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Juan Pablo Diánez-González.

Additional information

Publisher’s note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Diánez-González, J.P., Camelo-Ordaz, C. & Fernández-Alles, M. Drivers and implications of entrepreneurial orientation for academic spin-offs. Int Entrep Manag J 17, 1007–1035 (2021). https://doi.org/10.1007/s11365-020-00652-3

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s11365-020-00652-3

Keywords

Search

Navigation