Equity crowdfunding in technology transfer strategies and licensing Online publication date: Thu, 09-Aug-2018
by Luca Dezi; Valentina Cillo; Antonio Usai; Paola Pisano
International Journal of Technology Management (IJTM), Vol. 78, No. 1/2, 2018
Abstract: The main aim of this study is to investigate to what extent equity crowdfunding could enable firms to outsource research and development activities. Likewise, the present study aims at analysing the relationship between desorptive capacity (DCAP) and equity crowdfunding performance. We also aim at studying the mediation role of ICT firm's capabilities, connective capacity and minor equity ownership. In this regard, this study intends to pioneer into connecting the knowledge management theory with the crowdfunding studies. A sample of 180 projects based on the top ten European equity crowdfunding platforms has been used. Findings indicate that desorptive capacity enables companies in developing external knowledge retention and expoitation which, in turn, enhance equity crowdfunding performance.
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