Assessment of technology transfer office performance for value creation in higher education institutions

Abstract

Innovative activities, knowledge exchange, patenting and commercialization of know-how are crucial to the value creation process in higher education institutions and other research organizations. The article analyses the technology transfer performance indicators of value creation. The methodology to identify and assess the technology transfer activities with the highest impact on created value are proposed in the paper. The following research methods were invoked: FARE method, allowed to calculate weights of each technology transfer performance indicator, when TOPSIS method redress all different indicators’ results and rank universities. The application of the proposed methodology was based on empirical data collected from Lithuanian universities. The results of the study reveal the importance of science business partnerships, TTO competence and scientists’ trust of TTO, applying particular technology transfer policy. The obtained results would be beneficial for universities technology transfer policy formation to maximize universities created value.

Keywords:

• technology transfer office (TTO)
• value creation
• FARE method
• TOPSIS method
• higher education institutions (HEI)
• university

JEL Classification:

• G32
• O32
• O34

Additional information

Notes on contributors

Jelena Stankevičienė

Jelena STANKEVIČIENĖ is a Professor at the Department of Financial Engineering at Vilnius Gediminas Technical University (Lithuania). Her main research topics include financial management for value creation, value engineering, assets and liability management, regulation of financial institution, higher education management.

Lidija Kraujalienė

Lidija KRAUJALIENĖ is a PhD student at the Department of Financial Engineering at Vilnius Gediminas Technical University (Lithuania). Her research focuses on the performance management of technology transfer process in higher education institutions.

Agnė Vaiciukevičiūtė

Agnė VAICIUKEVIČIŪTĖ is a PhD student at the Department of Financial Engineering at Vilnius Gediminas Technical University (Lithuania). Her scientific interests concentrate on research methodology of higher education management, value creation for stakeholders and the economic impact of higher education.