Abstract
Research and development (R&D) investment affects the growth of firms in the same industry differently according to their technological positions. This study empirically investigates differences in how R&D investment influences firm growth between technological leaders and followers. Additionally, this study investigates the moderating effects of complementary assets and market competition on the relationship between R&D investment and firm growth. Using a sample of 2322 observations from 492 firms in the U.S. chemical and allied products industry for the period 2000-2009, we show that an increase in R&D investment leads to greater firm growth for technological followers than for technological leaders. We also find that the moderating effects of complementary assets and market competition vary depending on whether a firm is a technological leader or follower.
| Original language | English |
|---|---|
| Pages (from-to) | 909-925 |
| Number of pages | 17 |
| Journal | Technology Analysis and Strategic Management |
| Volume | 26 |
| Issue number | 8 |
| DOIs | |
| Publication status | Published - 2014 Sep |
All Science Journal Classification (ASJC) codes
- Strategy and Management
- Management Science and Operations Research