Schumpeters legacy: A new perspective on the relationship between firm size and R&D

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dc.contributor.authorLee, Chang-Yangko
dc.contributor.authorSung, Taeyoonko
dc.date.accessioned2008-04-30T02:56:22Z-
dc.date.available2008-04-30T02:56:22Z-
dc.date.created2012-02-06-
dc.date.created2012-02-06-
dc.date.created2012-02-06-
dc.date.issued2005-08-
dc.identifier.citationRESEARCH POLICY, v.34, no.6, pp.914 - 931-
dc.identifier.issn0048-7333-
dc.identifier.urihttp://hdl.handle.net/10203/4287-
dc.description.abstractThis paper shows that firm heterogeneity in technological competence, rather than differences in industry-specific characteristics, is the primary condition determining the long-debated relationship between firm size and R&D. Specifically, by utilizing a formal model of firm R&D that shows that profit-maximizing firm R&D intensity is determined jointly by firm-specific technological competence and consumer preference regarding quality and price, this paper suggests that firm size affects firm R&D intensity not directly, but through its influence on firm-specific technological competence. In particular, four predictions are drawn and tested empirically: (1) in general, the size-R&D relationship is less-than-proportional or inverted U-shaped, especially for low-technological-competence firms; (2) however, the common less-than-proportional relationship disappears, and a more-than-proportional relationship becomes increasingly likely, for firms with high levels of technological competence, plausibly due to competence-enhancing, learning economies of scale and/or scope in R&D; (3) firms with larger accumulated R&D experience are, ceteris paribus, less likely to exhibit the common less-than-proportional relationship; (4) among industries, a greater within-industry departure from the proportional size-R&D relationship is expected for industries with seemingly high, rapidly changing technological-opportunity conditions. These predictions, especially pertaining to the conditioning role of technological competence in the size-R&D relationship, are empirically supported by the unique data by the World Bank. (c) 2005 Elsevier B.V. All rights reserved.-
dc.languageEnglish-
dc.language.isoen_USen
dc.publisherELSEVIER SCIENCE BV-
dc.titleSchumpeters legacy: A new perspective on the relationship between firm size and R&D-
dc.typeArticle-
dc.identifier.wosid000231299000009-
dc.identifier.scopusid2-s2.0-23044435005-
dc.type.rimsART-
dc.citation.volume34-
dc.citation.issue6-
dc.citation.beginningpage914-
dc.citation.endingpage931-
dc.citation.publicationnameRESEARCH POLICY-
dc.identifier.doi10.1016/j.respol.2005.04.006-
dc.embargo.liftdate9999-12-31-
dc.embargo.terms9999-12-31-
dc.contributor.localauthorLee, Chang-Yang-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthortechnological competence-
dc.subject.keywordAuthorproportionality-
dc.subject.keywordAuthorabsorptive capacity-
dc.subject.keywordPlusINDUSTRIAL-RESEARCH-
dc.subject.keywordPlusEMPIRICAL-ANALYSIS-
dc.subject.keywordPlusMARKET-STRUCTURE-
dc.subject.keywordPlusINNOVATION-
dc.subject.keywordPlusDETERMINANTS-
dc.subject.keywordPlusOPPORTUNITY-
dc.subject.keywordPlusCOMPETITION-
dc.subject.keywordPlusSPILLOVERS-
dc.subject.keywordPlusPATENTS-
dc.subject.keywordPlusGROWTH-
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