TY - JOUR
T1 - The impact of publicly funded basic research
T2 - An integrative extension of Martin and Salter
AU - McMillan, G. Steven
AU - Hamilton, Robert D.
N1 - Funding Information:
Partially funded by the NSF and the Sloan Foundation, Zucker and Darby collected a very large database on biotechnology firm characteristics and activities. Using these data, they developed a number of papers. In one of the first [43], they examined the relationship between intellectual capital, defined by the authors as a specialized body of knowledge, which enables an individual to earn supranormal returns on the cost of obtaining that knowledge, and the creation of biotechnology firms. They identified 337 leading genetic sequence researchers (based on the number of genetic sequence discoveries reported up to 1990 for which they were an author and the number of such articles). Most of these researchers were affiliated with universities, and Zucker and Darby used the location of these researchers as a measure of regional intellectual capital. Their dependent variable was the timing and location of the births of biotechnology firms from 1976 to 1989.
Funding Information:
Manuscript received November 13, 2001; revised December 17, 2002. Review of this manuscript was arranged by Department Editor R. Balachandra. This work was supported by the National Institutes of Health (NIH). G. S. McMillan is with The Pennsylvania State Univeristy at Abington, Abington, PA 19001 USA (e-mail: gsm5@psu.edu). R. D. Hamilton, III, is with the Department of General and Strategic Management, Temple University, Philadelphia, PA 19122 USA (e-mail: rdhamilton@aol.com). Digital Object Identifier 10.1109/TEM.2003.810829
PY - 2003/5
Y1 - 2003/5
N2 - This paper provides an integrative literature review of the research on the impact of the public funding of basic research, extending previous work done at the Science Policy Research Unit (SPRU), University of Sussex, East Sussex, U.K. "Impact" is measured in terms of publications, patents, new drugs, employment, and new start-up companies. The primary focus of this paper is on empirical studies of the impact of biomedical research. However, a few key theoretical papers and empirical papers with a broader industrial focus are also reviewed to provide a more complete perspective. Conclusions, including an alternative view that basic research need not be public supported, and future research opportunities in this area are also discussed.
AB - This paper provides an integrative literature review of the research on the impact of the public funding of basic research, extending previous work done at the Science Policy Research Unit (SPRU), University of Sussex, East Sussex, U.K. "Impact" is measured in terms of publications, patents, new drugs, employment, and new start-up companies. The primary focus of this paper is on empirical studies of the impact of biomedical research. However, a few key theoretical papers and empirical papers with a broader industrial focus are also reviewed to provide a more complete perspective. Conclusions, including an alternative view that basic research need not be public supported, and future research opportunities in this area are also discussed.
UR - http://www.scopus.com/inward/record.url?scp=0037934548&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=0037934548&partnerID=8YFLogxK
U2 - 10.1109/TEM.2003.810829
DO - 10.1109/TEM.2003.810829
M3 - Article
AN - SCOPUS:0037934548
SN - 0018-9391
VL - 50
SP - 184
EP - 191
JO - IEEE Transactions on Engineering Management
JF - IEEE Transactions on Engineering Management
IS - 2
ER -