Showing papers by "Maurizio Sobrero published in 2009"
TL;DR: In this article, an empirical analysis performed on a sample of 88 Italian academics involved in the creation of 47 spin-offs between 1999 and 2005 was carried out to identify the most important motivations for academic researchers to start-up a new venture.
Abstract: Why do university researchers decide to start-up a new venture? How can we distinguish between the different factors influencing such an important decision? To what extent are specific policies activated within universities relevant in the process of new venture creation? In this paper we try to answer these very significant questions, through an empirical analysis performed on a sample of 88 Italian academics involved in the creation of 47 spin-offs between 1999 and 2005. Our findings show that the availability of technologies with a potential for commercial exploitation, the possibility to access university infrastructures and the personal benefits are the most important incentives for academics. More generally, academics’ involvement in creating new ventures is not driven by an entrepreneurial attitude, but rather by the expectation of generating results which will enhance their academic position. Additional investments and efforts made by some universities to create more mechanisms to support spin-offs are not perceived as additional incentives. These results hold after controlling for academic founders’ institutional affiliation, status, and the companies’ growth over their first two years of existence. Implications for public policy and organizational processes are discussed.
235 citations
01 Jan 2009
TL;DR: In this article, the authors study the formulation of entrepreneurial intentions and show that entrepreneurial intention is influenced by psychological characteristics, by individual skills, and by environmental influences, as well as individual characteristics and contextual variables on the intention formation process.
Abstract: Individual intentions influence human behaviors and, as a consequence, organizational outcomes. Therefore, the ability to understand and to predict intentions becomes a central issue in the managerial literature. In this contribution we study the formulation of entrepreneurial intentions. Drawing on a widely used intentional paradigm, the theory of planned behavior (Ajzen, 1991), we model the influence of individual characteristics and contextual variables on the intention formation process. Relying on a sample of 200 entrepreneurs, founders of 133 new-technology-based firms, we test a theoretical model of the micro-foundation of entrepreneurial intention. Our results show that entrepreneurial intention is influenced by psychological characteristics, by individual skills and by environmental influences. Managerial implications related to the creation of the conditions fostering entrepreneurial intentions within companies are discussed.
98 citations
TL;DR: In this paper, the authors analyzed whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets in the Italian publicly traded firms in the period of 1996-2006.
Abstract: Using a sample of Italian publicly traded firms in the period of 1996-2006, we analyze whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets. Prior literature has claimed that IFRS adoption should improve the quality of accounting information and reduce information asymmetries. We find a statistically significant decrease in the value relevance of intangible assets, and in particular of goodwill, after the IFRS adoption. In contrast, in the Italian setting investors’ evaluation of R&D expenditures seems not to be value relevant under either accounting standards.
25 citations
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TL;DR: In this paper, an empirical analysis performed on a sample of 88 Italian academics involved in the creation of 47 spin-offs between 1999 and 2005 was carried out, showing that the availability of technologies with a potential for commercial exploitation, the possibility to access university infrastructures and the personal benefits are the most important incentives for academics.
Abstract: Why do university researchers decide to start-up a new venture? How can we distinguish between the different factors influencing such an important decision? To what extent are specific policies activated within universities relevant in the process of new venture creation? In this paper we try to answer these very significant questions, through an empirical analysis performed on a sample of 88 Italian academics involved in the creation of 47 spin-offs between 1999 and 2005. Our findings show that the availability of technologies with a potential for commercial exploitation, the possibility to access university infrastructures and the personal benefits are the most important incentives for academics. Implications for public policy and organizational processes are discussed.
8 citations
01 Jun 2009
TL;DR: In this article, the authors analyzed whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets in the Italian publicly traded firms in the period of 1996-2006.
Abstract: Using a sample of Italian publicly traded firms in the period of 1996-2006, we analyze whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets. Prior literature has claimed that IFRS adoption should improve the quality of accounting information and reduce information asymmetries. We find a statistically significant decrease in the value relevance of intangible assets, and in particular of goodwill, after the IFRS adoption. In contrast, in the Italian setting investors’ evaluation of R&D expenditures seems not to be value relevant under either accounting standards.