2026 Volume 22 Issue 2 Pages 2_30-2_39
This study investigates the economic impact of university-industry collaboration on firms using panel data on publicly listed firms in Japan. We use the number of patent applications jointly filed with universities as a proxy for collaboration intensity and estimate its effect on firm sales using fixed-effects models, with a focus on heterogeneity across firm attributes. The results suggest that university-industry joint patents may have a statistically positive effect on corporate performance, particularly among manufacturing firms and small and mid-sized firms, defined as those with 800 or fewer employees. Furthermore, the study confirms that high collaboration effects can be achieved by firms combining both attributes and by specific industries within the manufacturing sector. These findings indicate that university-industry collaboration can serve as a catalyst for improving firm performance, while the magnitude of its impact may depend on firms' industrial characteristics and size. Overall, the study underscores the importance of accounting for firm heterogeneity when promoting university-industry collaboration.
