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

Mincheol Choi and Chang-Yang Lee ()

Technovation, 2021, vol. 104, issue C

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.

Keywords: Technological diversification; R&D productivity; Knowledge-spillover pool; Core-technology competence (search for similar items in EconPapers)
JEL-codes: O31 O32 O33 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:techno:v:104:y:2021:i:c:s0166497221000304

DOI: 10.1016/j.technovation.2021.102249

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