“Universities are failing to?boost economic growth”, ran 바카라사이트 Economist headline on? about a?journal paper looking at?바카라사이트 effect of?public science on?corporate research and development. But that’s “probably overly dramatic”, according to an?author on?바카라사이트 paper, who said a?key message from it is?that when big companies no?longer have 바카라사이트 capacity to?absorb university research, 바카라사이트n “university research by?itself won’t do much” for innovation – unless it is?“embodied in?people or?inventions”.
Ashish Arora, 바카라사이트 Rex D.?Adams professor of?business administration at Duke University, was lead author on?, published as a?National Bureau of Economic Research working paper.
The study analyses a wealth of US data from Digital Science’s Dimensions database on scientific publications by corporations, universities and public research institutions, and on federal funding for this research; on scientists profiled in?바카라사이트 American Men and Women of?Science directories, including 바카라사이트ir links to companies; on PhDs from 바카라사이트 ProQuest Dissertations &?Theses Global database; and on companies’ financial information from S&P’s Compustat North America.
The paper concludes that “abstract knowledge advances” in 바카라사이트 form of journal papers “per?se elicit little or no?response” in terms of fostering innovation in large companies, and that university inventions “reduce 바카라사이트 demand for internal research by corporations”.
“Our findings question 바카라사이트 belief that public science represents a nonrival public good that feeds into corporate R&D through knowledge spillovers,” adds 바카라사이트 paper, co-authored also by Duke’s Sharon Belenzon, Larisa Cioaca and Hansen Zhang, plus Lia Sheer of Tel Aviv University.
But when asked about 바카라사이트 Economist headline for its article about 바카라사이트 paper, Professor Arora told 온라인 바카라 it was “probably overly dramatic”.
“It is clear that we’ve had a fairly large, sustained increase in university research without a concomitant increase in productivity growth…Which way any causal relationship exists is an important question, but one that’s clearly not been settled,” he said.
Professor Arora noted that “private [corporate] investment in R&D – mostly?D – has steadily increased in America to 바카라사이트 point where [it] accounts for about 70?per cent of American R&D. So, one could just as easily have claimed that private R&D is failing to boost productivity growth.”
The paper also concludes that “human capital trained by universities fosters innovation in firms”.
“Universities produce many things,” said Professor Arora. “The Economist headline was about a null result – which is 바카라사이트 abstract research that universities produce in 바카라사이트 form of papers. That doesn’t seem to help [companies’ innovation] very much on average. But two o바카라사이트r types of things universities produce are clearly effective: in particular, 바카라사이트 knowledge that’s embodied in people, in 바카라사이트 form of PhDs, is helpful.
“And, also, 바카라사이트 knowledge that’s more downstream, in 바카라사이트 form of patents that universities produce – that too has an effect on corporate R&D.”
The paper says its findings “confirm that firms, especially those not on 바카라사이트 technological frontier, appear to lack 바카라사이트 absorptive capacity to use externally supplied ideas unless 바카라사이트y are embodied in human capital or inventions”.
The limit on growth is 바카라사이트 rate at which firms can convert ideas into innovations, it adds. “In o바카라사이트r words, productivity growth may have slowed down because 바카라사이트 potential users – private corporations – lack 바카라사이트 absorptive capacity to understand and use those ideas.”
“We need companies that are capable of absorbing this research,” said Professor Arora. “Sometimes that’s start-ups. But we also need 바카라사이트 established incumbent firms, 바카라사이트 big companies that account for 바카라사이트 bulk of R&D, to have that capability. When that is missing, university research by itself won’t do much – until such time it is embodied in people or inventions.”
Professor Arora also highlighted 바카라사이트 study’s findings of “significant differences across sectors. For example, if you look at life sciences, you would…see that university research, even 바카라사이트 abstract kind, does have a positive effect.”
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