MTEI Seminar by Prof. Bruno Cirillo, Skema Research Center
Event details
| Date | 10.06.2015 |
| Hour | 12:00 › 13:30 |
| Speaker | Prof. Bruno Cirillo, Skema Research Center |
| Location | |
| Category | Conferences - Seminars |
"Technological Search through Corporate Spinouts in the U.S. Information and Communication Technology Industry, 1975-2008"
Abstract
Corporate spinouts can help parent firms create value in boundary-spanning innovations and also limit the associated downside of increased variance in outputs. A study of the patenting activities of 54 U.S. firms operating in the information and communication technology industry between 1975 and 2008 reveals that, ceteris paribus, firm’s inventions that build on the firm’s spinouts knowledge (treated patents) are associated with more value, or patent claims, than comparable firm’s inventions that build on other comparable knowledge sources (control patents), such as corporate venture capital portfolio ventures, allies and acquired firms. The treatment effect is especially pronounced when treated patents (1) source knowledge from spinouts that employ inventors who were experienced with the parent firm’s technological core and (2) recombine unfamiliar knowledge components. These results are robust across several econometric specifications that account for treatment selection and intrinsic differences in sourcing strategies. I offer detailed theoretical and practical implications, from the perspective of technology strategy and corporate renewal.
Abstract
Corporate spinouts can help parent firms create value in boundary-spanning innovations and also limit the associated downside of increased variance in outputs. A study of the patenting activities of 54 U.S. firms operating in the information and communication technology industry between 1975 and 2008 reveals that, ceteris paribus, firm’s inventions that build on the firm’s spinouts knowledge (treated patents) are associated with more value, or patent claims, than comparable firm’s inventions that build on other comparable knowledge sources (control patents), such as corporate venture capital portfolio ventures, allies and acquired firms. The treatment effect is especially pronounced when treated patents (1) source knowledge from spinouts that employ inventors who were experienced with the parent firm’s technological core and (2) recombine unfamiliar knowledge components. These results are robust across several econometric specifications that account for treatment selection and intrinsic differences in sourcing strategies. I offer detailed theoretical and practical implications, from the perspective of technology strategy and corporate renewal.
Practical information
- General public
- Free