Universities as partners in U.S. research joint ventures

This paper investigates the conditions when a research joint venture (RJV) will involve a university as a research partner. We hypothesize that larger RJVs are more likely to invite a university to join the venture as a research partner than smaller RJVs because larger ventures are less likely to expect substantial additional appropriability problems to result because of the addition of a university partner and because the larger ventures have both a lower marginal cost and a higher marginal value from university R&D contributions to the ventures' innovative output. We test this hypothesis using data from the COoperative REsearch (CORE) database, and those data confirm the hypothesis.