WHY SOME FIRMS NEVER INVEST IN FORMAL R&D

• 成果类型: Article
• 署名作者: Cuervo-Cazurra, Alvaro; Un, C. Annique
• 署名单位: University of South Carolina System; University of South Carolina Columbia
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.836
• 发表日期: 2010
• 页码: 759-779
• 关键词: R&D investments; REAL OPTIONS THEORY; knowledge-based view; technological capabilities

摘要

In this paper we study the frequency of formal R&D investments. We link real options theory to the knowledge-based view to explain how a firm's knowledge resources influence its frequency of investing in R&D to establish technological options. Specifically, we propose that a firm that lacks internal knowledge resources is more likely to never invest in R&D, a firm that has both internal and external knowledge resources is more likely to sometimes invest in R&D, while a firm that has internal knowledge resources but lacks external knowledge resources is more likely to always invest in R&D. Copyright (c) 2010 John Wiley & Sons, Ltd.