Technological diversification and R&D productivity: The moderating effects of knowledge spillovers and core-technology competence

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Though technological diversification has been regarded as an important strategy in managing the productivity of firms' R&D, there have been few studies that empirically examined the relationship between technological diversification and R&D productivity. This study aims to fill this lacuna in the existing literature by empirically investigating the relationship between technological diversification and R&D productivity, primarily focusing on the moderating effects of knowledge spillovers and core-technology competence in the relationship. Using a panel dataset of U.S. manufacturing firms during the period of 1983-2002, we find the following: First, the firmspecific pool of knowledge spillovers has a positive moderating effect on the relationship. Second, firm-specific core-technology competence has a positive moderating effect on the relationship. Third, the moderating role of core-technology competence in the relationship is more pronounced for firms operating in high-tech industries or competitive industries. Finally, after considering the moderating effects, the stand-alone (or direct) effect of technological diversification on R&D productivity is U-shaped. Our findings indicate that firms should consider their pools of knowledge spillovers and technological competence in the field of their core technology in order to better utilize technological diversification.
Publisher
ELSEVIER
Issue Date
2021-06
Language
English
Article Type
Article
Citation

TECHNOVATION, v.104

ISSN
0166-4972
DOI
10.1016/j.technovation.2021.102249
URI
http://hdl.handle.net/10203/286042
Appears in Collection
MT-Journal Papers(저널논문)
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