The differential effects of basic research on firm R&D productivity: The conditioning role of technological diversification

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This study examines the relationship between basic research and firm R&D productivity. In particular, this study focuses on the conditioning role of firm-level technological diversification in the relationship based on the idea that firms with a broad technological knowledge base are better positioned to fully harness the wide and unpredictable applicability of scientific knowledge. Using a unique panel dataset of Korean manufacturing firms during the period of 2003-2012, we find the following. First, firm-level technological diversification positively conditions the relationship between basic research and firm R&D productivity. In particular, unrelated technological diversification, rather than related technological diversification, has a positive conditioning effect on the relationship. Second, the positive conditioning effect of technological diversification is more pronounced for firms operating in high-tech industries or in less competitive industries. These results suggest that a broad technological knowledge base across unrelated technological fields is helpful or necessary for firms to better utilize basic research for enhancing their R&D productivity.
Publisher
ELSEVIER
Issue Date
2022-12
Language
English
Article Type
Article
Citation

TECHNOVATION, v.118

ISSN
0166-4972
DOI
10.1016/j.technovation.2022.102559
URI
http://hdl.handle.net/10203/297462
Appears in Collection
MT-Journal Papers(저널논문)
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