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Innovation Incentives.pdf

Wu_et_al-2014-Strategic_Management_Journal-1.pdf

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📄 Pages: 22 pages

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Summary

Incumbent firms' failure in the face of radical technical change is attributed to underinvestment in radical technologies due to lower marginal benefits and cannibalization of existing products. However, empirical studies show that incumbent firms often invest significantly in radical innovations but develop inferior versions, suggesting that the issue is not just underinvestment, but also the direction and effectiveness of investment. Complementary assets play a dual role, acting as both "pipes" that buffer firms from technology change and "prisms" that influence investment magnitude and trajectory, highlighting the importance of considering firm heterogeneity in technological trajectories and complementary assets.

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Description

Incumbent firms' failure in the face of radical technical change is attributed to underinvestment in radical technologies due to lower marginal benefits and...

Technical Information

File Format: PDF
File Size: 991 KB
Pages: 22
Language: EN
Total Downloads: 134
Last Updated: 4 weeks ago

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