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How to develop ASOs of China? Answers from the academic entrepreneurs

Xingteng Li (School of Management, University of Science and Technology of China, Hefei, China)
Cong Zhu (School of Management, University of Science and Technology of China, Hefei, China)
Feng Feng (School of Management, University of Science and Technology of China, Hefei, China)


ISSN: 0368-492X

Article publication date: 18 October 2021

Issue publication date: 29 November 2022




Why do academic spin-offs (ASOs) have different growth performance? What makes ASOs grow better? Based on the perspective of academic entrepreneurs, this study systematically studies the influence mechanism of the growth of Chinese ASOs and establishes an analytical framework for the influence of academic entrepreneurs on the growth of ASOs.


This study takes ASOs of Chinese Academy of Sciences as a sample. On the basis of literature analysis, the questionnaire is designed to collect the measurement items of variables and amended after interviewing the well-known scholars and experienced enterprise managers. The entrepreneur capital theory and the triple helix (TH) model are used to formulate the research model. Ordinary least squares (OLS) regression analysis was used to analyze the relationship between academic entrepreneurs' social capital, human capital and enterprise growth. Data processing, reliability and validity analysis, hypothesis testing and so on are all carried out by Statistical Product and Service Solutions (SPSS), which is a common method of first-hand data processing.


According to findings, capital of academic entrepreneurs exerted a positive impact on ASOs growth. First of all, ASOs growth is positively affected by external connections and human capital of academic entrepreneurs. Second, the institutional environment and location environment play a regulation role. However, regulation role of the industrial environment is not proved. Third, the research has shown academic entrepreneurs' capital and ASOs growth is regulated by both path guidance and resources support ways. Finally, according to further test, ASOs growth is positively affected by both business contacts and political contacts of academic entrepreneurs, and the role of political contacts is greater.

Research limitations/implications

Inevitably, this research has limitations, to some extent, which need to be further improved and supplemented in future studies. First, samples are special. Due to the difficulty of data acquisition, this research only obtains data from ASOs of the Chinese Academy of Sciences system. Second, there should be diverse methods to measure the growth of ASOs.


Based on composition-based view and triple helix model, this study constructs an analytical framework of the influence of academic entrepreneur capital on ASOs growth and verifies the influence and mechanism of academic entrepreneur social capital and human capital on enterprise growth. The conclusion of this study provides empirical support for the development of composition-based view and also proves the effectiveness of this theory in studying ASOs related issues in China. In addition, the research conclusion is also the practical application of triple helix model, which proves the effectiveness of triple helix model in analyzing the growth mechanism of ASOs.



Li, X., Zhu, C. and Feng, F. (2022), "How to develop ASOs of China? Answers from the academic entrepreneurs", Kybernetes, Vol. 51 No. 11, pp. 3419-3447.



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