Erschienen in:Robert H. Smith School Research Paper ; No. RHS 2628172
Umfang:
1 Online-Ressource (44 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.2628172
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 14, 2015 erstellt
Beschreibung:
We examine firm investments in technology when an industry is in its incubation stage — the period between introduction of a technological change and the first instance of its commercialization. Focusing on this understudied phenomenon and using the agricultural biotechnology industry as a context, we develop stylized findings regarding the trend and diversity of firms undertaking technological experiments in anticipation of industry emergence, their leverage of markets for technology and corporate control, and their use of alternative modes of value capture. We juxtapose these stylized findings with received theoretical mechanisms to identify instances where extant theories either fail to explain the observed patterns, or predict patterns that are inconsistent with what is observed. Accordingly, our study sets the stage for future scholarly work to develop and test theories for the incubation period, examine its existence in other industries, and examine its impact on subsequent firm and industry structure