Interorganizational Knowledge Flows in Academia–Industry Collaboration: The Economic Impacts of Science-Based Firm Innovation

We investigate the double-edged impacts of interorganizational knowledge flows in academia–industry collaboration on the innovation economic impacts of science-based firms. When a firm receives knowledge
directly
from more research institutes, its innovation economic impact improves subsequently. In contrast, when a firm receives knowledge
indirectly
from other firms through a research institute, its innovation economic impact declines subsequently. We also explore the moderation effects of firm technological originality and generality. We report empirical findings from a panel data of science-based firms in the United States. Our analysis yields theoretical implications for academia–industry collaborations in the science-based entrepreneurship literature and practical implications for management practitioners and policymakers in science-based firm creation and development.