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JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org.. property. This paper discusses mechanisms available to universities in managing the commercialization of intellectual property, considering equity as a technology transfer mechanism that offers advantages for both generating revenue and aligning the interests of universities, industry and faculty. Employing data from a national survey of Carnegie I and Carnegie II institutions, we document the recent rise in university equity holdings. We present and estimate a model that considers the university's use of equity to be a function of behavioral factors related to the university's prior experiences with licensing, success relative to other institutions, and the organization of the technology transfer office, as well as structural characteristics related to university type. INFORMS

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Rather than introducing radical new “grand theory” paradigms, most theory contributions in strategic management extend, clarify, or apply received theories in new and interesting ways. Here we offer a guide on how to make these kinds of contributions to theory. Theory usually begins with a research question, which can come from the phenomenon of interest, variations/limitations of existing theory, or intellectual creativity. Along with the question, there are a number of more craftsmanship‐level aspects of a theory where contributions can be made: the mode of theorizing, the level of analysis, an understanding of the underlying phenomenon, causal mechanisms, constructs and variables, and boundary conditions. These aspects of the theory lead to a set of outcomes in the form of explanations, predictions, or prescriptions. The articles in this special issue are interpreted through our framework as illustrations of this approach to making theory contributions.

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