The Role of Technological Rarity and Environmental Uncertainty in Explaining Patent Value

Lars Alkærsig, Karin Beukel, Giancarlo Lauto, Finn Valentin

    Publikation: KonferencebidragPaperForskningpeer review

    Abstrakt

    It is well known that knowledge circulates and diffuses in an industry through spillover mechanisms. Building on the insights offered by the Resource Based View that only rare and inimitable resources contribute to value we study how rarity to the market affects innovation value. Furthermore we explore how environmental uncertainty affects innovation value, and whether environmental uncertainty has a moderating effect on the relation between rarity and innovation value. We take as our empirical case hydrocracking, a mature technology widely applied in the oil industry. Innovations in hydrocracking are based on the combination of elementary technologies relative to three technology areas: feeds and products, catalyst preparation, and refinery processing.Using detailed patent information, we find that rarity has a curvilinear effect in an U-shape on innovation value, that environmental uncertainty has an inverted U-shaped curvilinear effect on innovation value, and that low environmental uncertainty moderates the relation between rarity and innovation value in such a way that the U-shaped relation between rarity and value becomes an inverted U-shape.
    OriginalsprogEngelsk
    Publikationsdatojun. 2013
    Antal sider32
    StatusUdgivet - jun. 2013
    BegivenhedThe 35th DRUID Celebration Conference 2013: Innovation, Strategy and Entrepreneurship: Competitiveness and Dynamics of Organizations, Technologies, Systems and Geography - ESADE Business School, Ramon Llull University, Barcelona, Spanien
    Varighed: 17 jun. 201319 jun. 2013
    Konferencens nummer: 35
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    Konference

    KonferenceThe 35th DRUID Celebration Conference 2013: Innovation, Strategy and Entrepreneurship
    Nummer35
    LokationESADE Business School, Ramon Llull University
    LandSpanien
    ByBarcelona
    Periode17/06/201319/06/2013
    AndetThe DRUID Society Conference 2013
    Internetadresse

    Citationsformater

    Alkærsig, L., Beukel, K., Lauto, G., & Valentin, F. (2013). The Role of Technological Rarity and Environmental Uncertainty in Explaining Patent Value. Paper præsenteret på The 35th DRUID Celebration Conference 2013: Innovation, Strategy and Entrepreneurship, Barcelona, Spanien. http://druid8.sit.aau.dk/acc_papers/4ae7yhknv2997otk5lyp06t650g2.pdf