Business type,industry value chain,and R&D performance: Evidence from high-tech firms in an emerging market |
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Authors: | Hsiao-Wen Wang Ming-Cheng Wu |
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Institution: | 1. Graduate Institute of Accounting and Department of Finance, National Central University, Taiwan, ROC;2. Department of Business Education, National Changhua University of Education, Taiwan, ROC |
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Abstract: | This study focuses on how the business type and technological learning mode, which a high-tech firm chooses based on its core competence, influence the firm's R&D strategies, which in turn affect firm performance. This study also explores how the interaction between a firm's business type and industry value chain stage affects the relationship between R&D investments and operating performance. We suggest that the linkage of R&D investments and operating performance will increase gradually, when firms move from contract manufacturing to own brand business. R&D investments can contribute more to performance when firms adopt the hybrid business type. Furthermore, R&D investments generate more significant benefits for the own brand companies than the contract manufacturers at the same stage of the industry value chain. R&D investments of the downstream contract manufacturers have a negative impact on firm performance. Regardless of business type, firms in the upstream (midstream) stage of the industry value chain outperform downstream stage firms in deriving benefits from R&D activities. Finally, the lagged effects of R&D investments on operating performance are affected by the interaction between business type and industry value chain. |
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