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Firm specialization in clean energy technologies: The influence of path dependence and technological diversification

Author

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  • Patricia Laurens
  • Christian Le Bas
  • Stéphane Lhuillery

Abstract

?This article introduces two important changes regarding the substantial literature on the determinants of firms? innovations in clean energy. Firstly, we consider not firms? innovation performance in clean technology, but their specialization in these new technologies, through the index of revealed technological advantages. Secondly, we test the effects of a variable of path dependence (the past level of specialization) and an indicator of technological diversification. Our empirical analysis is based on a sample of 946 large globalized firms, which have a very high level of R&D expenditure. The results of the different estimations show that: 1) there is a path dependence effect, i.e., past specialization in research in clean energy technologies explains current specialization; 2) the path dependence effect is stronger with more recent technological specialization than it is with older specialization; 3) past technological diversification explains (but only weakly) current specialization in clean energy innovation. Otherwise, some determinants highlighted for firms? innovation performance also play a role, in particular firms? intellectual capital in clean technology. ? ?JEL classification: ? ?D22, O32, O33, Q54, Q55.?

Suggested Citation

  • Patricia Laurens & Christian Le Bas & Stéphane Lhuillery, 2018. "Firm specialization in clean energy technologies: The influence of path dependence and technological diversification," Revue d'économie industrielle, De Boeck Université, vol. 0(4), pages 73-106.
    • Handle: RePEc:cai:reidbu:rei_164_0073
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    Citations

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    Cited by:

    1. Bento, Nuno & Fontes, Margarida & Barbosa, Juliana, 2021. "Inter-sectoral relations to accelerate the formation of technological innovation systems: Determinants of actors’ entry into marine renewable energy technologies," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    2. Kevin Riehl & Florian Kiesel & Dirk Schiereck, 2022. "Political and Socioeconomic Factors That Determine the Financial Outcome of Successful Green Innovation," Sustainability, MDPI, vol. 14(6), pages 1-23, March.
    3. Riehl, Kevin & Kiesel, Florian & Schiereck, Dirk, 2022. "Political and Socioeconomic Factors That Determine the Financial Outcome of Successful Green Innovation," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 132099, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).

    More about this item

    Keywords

    patent; firm specialization; clean technology; path dependence; technological diversification; intellectual capital;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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