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

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  • Choi, Mincheol
  • Lee, Chang-Yang

Abstract

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 firm-specific 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.

Suggested Citation

  • Choi, Mincheol & Lee, Chang-Yang, 2021. "Technological diversification and R&D productivity: The moderating effects of knowledge spillovers and core-technology competence," Technovation, Elsevier, vol. 104(C).
    • Handle: RePEc:eee:techno:v:104:y:2021:i:c:s0166497221000304
    DOI: 10.1016/j.technovation.2021.102249
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    More about this item

    Keywords

    Technological diversification; R&D productivity; Knowledge-spillover pool; Core-technology competence;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • 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

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