Universities in China have increased their entrepreneurship significantly, yet a good understanding of the specific characteristics of university-based technology transfers remains missing. This study focuses on a special type of university spinoffs in China, University-Run Enterprises (UREs), and examines how URE eminence contributes to a university's technology transfer performance, using panel data covering 195 universities over the five years from 2002 to 2006. The findings reveal that URE eminence not only signifies a university's strong entrepreneurial culture, but also signals commercial values and quality of the university research. It moderates the contribution of university scientists from the supply side and that of sourcing firms from the demand side.
