Competition and technology acquisition among Nigerian firms

Adekemi Jessica Oluwadare, Olufemi Obembe and David Olayungbo

International Journal of Business Forecasting and Marketing Intelligence, 2016, vol. 2, issue 4, 347-358

Abstract: Scholarly investigations into the impact of competition on innovative activities have provided mixed results which range from finding that imperfectly competitive markets are better at stimulating innovative activity to finding the complete opposite. Most of these studies have been carried out in developed economies, with little evidence on developing countries, especially Nigeria. This study seeks to provide empirical evidence on how firms in Nigeria respond with respect to the acquisition of technology when they face competition. Competition in this context is defined by the Price-Cost Margin (PCM) and technology acquisition is derived by summing expenditure on R%D, technical fees/licenses and royalty payments. The data obtained from 42 manufacturing firms listed on the Nigerian Stock Exchange between 2001 and 2013 was analysed using the Arellano and Bond Generalised Method of Moments (GMM) technique. The result shows that competition has a positive and significant impact on technology acquisition among Nigerian firms.

Keywords: competition; technology acquisition; innovation; market structure; Nigeria; developing countries; GMM; generalised method of moments; manufacturing industry. (search for similar items in EconPapers)
Date: 2016
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