Aspiration Levels and R&D Search in Young Technology-Based Firms

Marina Candi, Rognvaldur Saemundsson, Olaf Sigurjonsson

    Research output: Contribution to conferencePaperResearchpeer-review

    Abstract

    Decisions about allocation of resources to research and development (R&D), referred to here as R&D search, are critically important for competitive advantage. Using panel data collected yearly over a period of nine years, this paper re-visits existing theories of backward-looking and forward-looking decision models for R&D search in the important context of young technology-based firms. Some of the findings confirming existing models, but overall the findings contradict existing models. Not only are young technology-based firms found to increase search when aspirations are not met, but they do the same when performance surpasses aspirations. Both positive and negative outlooks reinforce the effects of performance feedback. The combined effect is that the more outcomes and expectations deviate from aspirations the more young technology-based firms invest in R&D search.
    Original languageEnglish
    Publication date2014
    Publication statusPublished - 2014
    EventStrategic Management Society 34th Annual International Conference. SMS 2014 - Madrid, Spain
    Duration: 20 Sep 201423 Sep 2014
    Conference number: 34
    http://madrid.strategicmanagement.net/

    Conference

    ConferenceStrategic Management Society 34th Annual International Conference. SMS 2014
    Number34
    CountrySpain
    CityMadrid
    Period20/09/201423/09/2014
    Internet address

    Bibliographical note

    CBS Library does not have access to the material

    Cite this

    Candi, M., Saemundsson, R., & Sigurjonsson, O. (2014). Aspiration Levels and R&D Search in Young Technology-Based Firms. Paper presented at Strategic Management Society 34th Annual International Conference. SMS 2014, Madrid, Spain.
    Candi, Marina ; Saemundsson, Rognvaldur ; Sigurjonsson, Olaf. / Aspiration Levels and R&D Search in Young Technology-Based Firms. Paper presented at Strategic Management Society 34th Annual International Conference. SMS 2014, Madrid, Spain.
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    title = "Aspiration Levels and R&D Search in Young Technology-Based Firms",
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    author = "Marina Candi and Rognvaldur Saemundsson and Olaf Sigurjonsson",
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    Candi, M, Saemundsson, R & Sigurjonsson, O 2014, 'Aspiration Levels and R&D Search in Young Technology-Based Firms' Paper presented at, Madrid, Spain, 20/09/2014 - 23/09/2014, .

    Aspiration Levels and R&D Search in Young Technology-Based Firms. / Candi, Marina; Saemundsson, Rognvaldur; Sigurjonsson, Olaf.

    2014. Paper presented at Strategic Management Society 34th Annual International Conference. SMS 2014, Madrid, Spain.

    Research output: Contribution to conferencePaperResearchpeer-review

    TY - CONF

    T1 - Aspiration Levels and R&D Search in Young Technology-Based Firms

    AU - Candi, Marina

    AU - Saemundsson, Rognvaldur

    AU - Sigurjonsson, Olaf

    N1 - CBS Library does not have access to the material

    PY - 2014

    Y1 - 2014

    N2 - Decisions about allocation of resources to research and development (R&D), referred to here as R&D search, are critically important for competitive advantage. Using panel data collected yearly over a period of nine years, this paper re-visits existing theories of backward-looking and forward-looking decision models for R&D search in the important context of young technology-based firms. Some of the findings confirming existing models, but overall the findings contradict existing models. Not only are young technology-based firms found to increase search when aspirations are not met, but they do the same when performance surpasses aspirations. Both positive and negative outlooks reinforce the effects of performance feedback. The combined effect is that the more outcomes and expectations deviate from aspirations the more young technology-based firms invest in R&D search.

    AB - Decisions about allocation of resources to research and development (R&D), referred to here as R&D search, are critically important for competitive advantage. Using panel data collected yearly over a period of nine years, this paper re-visits existing theories of backward-looking and forward-looking decision models for R&D search in the important context of young technology-based firms. Some of the findings confirming existing models, but overall the findings contradict existing models. Not only are young technology-based firms found to increase search when aspirations are not met, but they do the same when performance surpasses aspirations. Both positive and negative outlooks reinforce the effects of performance feedback. The combined effect is that the more outcomes and expectations deviate from aspirations the more young technology-based firms invest in R&D search.

    M3 - Paper

    ER -

    Candi M, Saemundsson R, Sigurjonsson O. Aspiration Levels and R&D Search in Young Technology-Based Firms. 2014. Paper presented at Strategic Management Society 34th Annual International Conference. SMS 2014, Madrid, Spain.