Gains and Pains from Contract Research: A Transaction and Firm-Level Perspective

Abstract

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Do External Technology Acquisitions Matter for Innovative Efficiency and Productivity?

“…Although no empirical evidence for this strong complementarity between internal and external R&D in the context of efficiency and productivity in innovation exists so far, our findings are with line to those of Beneito (2006) and Grimpe and Kaiser (2008). The former study finds that contracted R&D improves innovative output performance (measured by patent application) only when it is combined with internal R&D, and the latter study provides evidence that simultaneous use of contractual and internal R&D efforts contribute to innovation success (measured in innovative product sales).…”

“…Hoekman and Javorcik (2006) and Lopez (2008) argue that technology licensing generates productivity spillovers and increases productivity in upstream sectors. On the other side, Grimpe and Kaiser (2008) find positive and significant effects for both internal and contractual R&D expenditure on the innovation success measured in innovative product sales. R&D contracts help firms to acquire technologies without significant irreversible financial commitment and firms can selectively and flexibly acquire technology based on their needs and technological configuration.…”

“…The literature providing empirical evidence on the effect of external technology sourcing on a firm's innovation performance is growing recently (e.g., Cassiman and Veugelers, 2007;Narayanan and Bhat, 2009;Grimpe andKaiser, 2008, Veugelers andCassiman, 1999;Beneito, 2006). It has been argued that in order to absorb externally acquired knowledge, an effective 'absorptive capacity' to identify and effectively utilize this knowledge is essential (e.g., Cohen and Levinthal, 1989).…”

“…Although the existing literature acknowledge that the efficient handling of organization costs might prove to be central for innovation success (Grimpe and Kaiser, 2008), they focus primarily on the success/failure of technology acquisition based on R&D efforts and R&D output. However, if R&D resources are not used effectively, additional investment may be of little support in stimulating innovation process.…”

Characteristics of the client sectors of R&D services in Korea

“…A stereotypical way of understanding R&D services from the perspective of client firms is to consider them as a type of technology acquisition strategy and R&D governance mode (e.g. Granstrand and Sjöander, 1990;Granstrand, et al, 1992;Croisier, 1998;Grimpe and Kaiser, 2008). Research has been conducted to reveal the motives of outsourcing R&D activities.…”