Based on new data, this paper studies the invention disclosure, licensing, and spin-off activities of Max Planck Institute directors over the time period 1985-2004, analyzing their effects on the scientists' subsequent publication and citation records. Consistent with prior findings, inventing...

Using a new dataset with detailed geographic information about licensing activities of the German Max Planck Society, we analyze how the probability and magnitude of commercial success are affected by geographic distance between licensors and licensees. Our evidence suggests that proximity does...