Structural equation model for predicting technology commercialization success index (TCSI)

Expecting high return, many firms try to invest on R&D of new technology. However, critical loss of assets would occur, when a firm fails to commercialize the developed technology. It would be of interest to provide the ideal environment for commercialization from the R&D stage. In this study, we use a structural equation model (SEM) to forecast the technology commercialization success index (TCSI) in relation to technology developer, technology receiver, technology transfer center, and environmental factors. The proposed SEM is fitted based on partial least square (PLS) estimation procedure. Individual TCSI is then found following the approach used for American customer satisfaction index (ACSI) for various combinations of characteristics of the type of technology, technology receiver, and technology developer. We expect that the proposed approach for TCSI can be used as guidance for an ideal match of technology with technology developer and technology receiver.