Managing Knowledge Generation at Universities

The present paper compares the dynamics of research output of universities, which is expressed quantitatively, with the dynamics of transaction costs. Transaction costs are found to determine research performance of universities in terms of publishing research papers, obtaining patents, and participation in conferences and exhibitions. The paper empirically verifies the hypothesis that the transaction rate of knowledge generation expressed as participation in exhibitions in directly proportional to the number of economic units established at universities with the purpose of promoting the application of research achievements. The transaction rate of knowledge generation in the form of conference presentations is shown to be directly proportional to the university contractual work per capita.