Is Academic Entrepreneurship Good or Badfor Science? Empirical Evidence fromthe Max Planck Society

Based on new data, this paper studies invention disclosure, licensing, and firm formationactivities of Max Planck Institute directors over the time period 1985-2004, and analyzestheir effects on scientists’ publication and citation records. The results are consistent withprior findings that inventing does not adversely affect research output. More mixed results areobtained with regard to academic entrepreneurship. The analysis raises questions vis-à-visearlier explanations for positive relationships between inventing and publishing. It finds littleevidence than inventors learn from interacting with firms. Likewise, license revenues do notenable scientists to step up their research activities...