KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
No 222:
Do External Technology Acquisitions Matter For Innovative Efficiency and Productivity?
Tseveen Gantumur ()
and Andreas Stephan ()
Abstract: To quickly adapt to technological change and developments,
and thus remain competitive, firms increasingly resort to the use of
external technology. This paper investigates whether and to what extent the
acquisition of external disembodied technology affects the efficiency and
productivity in innovation of technology acquiring firms. Using the
stochastic frontier analysis combined with a difference-in-difference
matching approach and firm-level panel from the German Innovation Survey
for the period 1992-2004, we find that manufacturing firms that acquire
disembodied technology experience more growth in innovative productivity
than nonacquiring firms do. Thus, this study provides evidence on
complementarity between internal and external R&D in innovation production,
which is attributed by increasing returns to R&D scale and increasing
technical efficiency. Moreover, we find that firm size significantly
contributes to innovative efficiency and productivity of external
technology acquirers.
Keywords: Technology Acquisition; Innovative Efficiency; Innovative Productivity; SFA; Difference-in- Difference Matching; (follow links to similar papers)
JEL-Codes: L24; L25; L60; O30; (follow links to similar papers)
40 pages, April 10, 2010
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