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SUMMARY:The Color of Money: Federal vs. Industry Funding of University Res
 earch
DTSTART:20210114T170000
DTSTAMP:20260916T232048Z
UID:9389d84cadb85254c01f893c61366f5a64cd3024c156c426bbaf478c
CATEGORIES:Conferences - Seminars
DESCRIPTION:Alex Xi He (University of Maryland)\nAlex Xi He (University of
  Maryland)\n"The Color of Money: Federal vs. Industry Funding of Universit
 y Research"\nDiscussant: TBC\n\n\nAbstract\nUniversities are an important 
 source of new knowledge. U.S. universities have traditionally relied on fe
 deral government funding\, but since 2000 the federal share has declined w
 hile the private industry share has increased. This paper offers the first
  causal comparison of federal and private university research funding\, fo
 cusing on patenting and researcher career outcomes. We begin with unique d
 ata on grants from 22 universities\, which include individual-level paymen
 ts for everyone employed on all grants for each university-year. We combin
 e this with patent and Census data\, including national IRS W-2 histories.
  We instrument for an individual's source of funding with government-wide 
 R&D expenditure shocks within a narrow field of study. These funding suppl
 y changes yield a set of compliers who are pushed away from federal fundin
 g and into private funding. We find that a higher share of federal funding
  causes fewer but more general patents\, much more high-tech entrepreneurs
 hip\, a higher likelihood of remaining employed in academia\, and a lower 
 likelihood of joining an incumbent firm. Increasing the private share of f
 unding has opposite effects for most outcomes. It appears that private fun
 ding leads to greater appropriation of intellectual property by incumbent 
 firms.\n \nKeywords: R&D\, Science\, Universities\, Innovation\, Entrepre
 neurship\n\nEPFL Virtual Innovation Seminar\nEVIS is a bi-weekly virtual s
 eminar series focusing on Science\, Technology and Innovation topics studi
 ed through the lens of Economics\, Entrepreneurship\, Strategy and Finance
 .\n 
LOCATION:Zoom
STATUS:CONFIRMED
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