Markets for Technology and the Importance of Firm-specific Search for Innovation Performance

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    Abstrakt

    Firms rely increasingly on external knowledge, e.g. from universities, to improve their innovation performance. Existing research models the acquisition of knowledge either as a firm-specific search or a purchase on markets for technology. The former implies that a firm chooses and develops relationships with knowledge sources while the latter suggests a transaction governed by markets. We argue that both mechanisms increase a firm?s innovation performance but that they are interrelated. While on the firm level firm-specific search and acquisitions on markets for technology complement each other, the costs of firm-specific search are only justified in underdeveloped markets. Otherwise, market transactions provide higher efficiency and flexibility. This negative cross-level interaction effect is stronger the more knowledge in an industry is covered by markets for technology. We test and support these hypotheses for a sample of 2131 German firms.
    OriginalsprogEngelsk
    Publikationsdato2014
    Antal sider38
    StatusUdgivet - 2014
    BegivenhedThe DRUID Society Conference 2014: Entrepreneurship - Organization - Innovation - Copenhagen Business School, Frederiksberg, Danmark
    Varighed: 16 jun. 201418 jun. 2014
    Konferencens nummer: 36
    http://druid8.sit.aau.dk/druid/registrant/index/login/cid/15

    Konference

    KonferenceThe DRUID Society Conference 2014
    Nummer36
    LokationCopenhagen Business School
    LandDanmark
    ByFrederiksberg
    Periode16/06/201418/06/2014
    Internetadresse

    Emneord

    • Knowledge search
    • Markets for technology
    • Innovation performance

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