Technology stocks: A study on the characteristics that help transfer public research to industry

Technology transfer from public research institutes and universities to industry is an effective way to promote social and economic development. However, although many studies have explored the various factors that affect technology transfers, few focus on the characteristics of an organization's technology stocks. In this study, we test which of technological diversity, uniqueness, combinative power, and proximity make a public research entity's knowledge stocks appealing. The study is set in the developing economy of China, using the research-subsidized Project 985 universities and the Chinese academy of sciences as the origins of public research. From an ERGM analysis, we find diversity and proximity have a significant positive effect; uniqueness has a significant negative effect; and combinative power has little to no effect at all. These insights have substantial theoretical implications for scholars in the technology transfer field and practical implications for public institutions engaged in research who are looking to improve their transfer rates.