Domain-specific valuation of university technologies using bibliometrics, Jonckheere-Terpstra tests, and data envelopment analysis

Abstract

Although university technology licencing has been the subject of many studies, a major gap remains in the literature regarding ways to assess the economic value of university technologies. We propose an analytical framework for the domain-specific valuation of university technologies using bibliometrics, Jonckheere-Terpstra tests, and data envelopment analysis (DEA). First, 18 potential quantitative indicators of the economic value of university technologies are extracted from technology transaction, patent, and publication databases using bibliometrics. Second, given the heterogeneity across technology fields, significant indicators suited to a tech-nology field of interest are identified using the Jonckheere-Terpstra tests. Third, a composite indicator is developed as a proxy for the economic value of university technologies using the DEA cross-efficiency method. Finally, the validity and utility of the analytical framework are examined using correlation analysis and the Jonckheere-Terpstra test. Accordingly, we explore the different implications of quantitative indicators in the valuation of university technologies across technology fields. A case study of the technologies registered in the Office of Technology Licensing at Stanford University confirms that the proposed analytical framework is valuable as a complementary tool for the valuation of university technologies.