Academic Engagement and Commercialization in an Institutional Transition Environment: Evidence from Shanghai Maritime University

TL;DR

This study explores how academic engagement influences university knowledge commercialization during China's institutional transition, revealing positive effects especially among risk-averse scholars, and suggests policy implications for government support.

Contribution

It provides empirical evidence on the impact of academic engagement on commercialization in a transitional institutional environment, highlighting the role of scholar risk preferences.

Findings

Academic engagement positively impacts commercialization.

Risk-averse scholars benefit more from academic engagement.

Policy recommendations for government to encourage engagement.

Abstract

Does academic engagement accelerate or crowd out the commercialization of university knowledge? Research on this topic seldom considers the impact of the institutional environment, especially when a formal institution for encouraging the commercial activities of scholars has not yet been established. This study investigates this question in the context of China, which is in the institutional transition stage. Based on a survey of scholars from Shanghai Maritime University, we demonstrate that academic engagement has a positive impact on commercialization and that this impact is greater for risk-averse scholars than for other risk-seeking scholars. Our results suggest that in an institutional transition environment, the government should consider encouraging academic engagement to stimulate the commercialization activities of conservative scholars.