外部技术获取时机对企业创新绩效的影响

The Impact of External Technology Acquisition Timing on Enterprise Innovation Performance

构建企业外部技术获取的实物期权模型,并分析企业外部技术获取时机的决策机制,且提出研究假设,以中国制造业上市公司为样本,对相关假设进行了实证检验。研究发现:①外部技术获取的最优时机,由外部技术的比重、外部技术与自主研发创新收益的比值、创新收益的不确定性等因素所决定。当外部技术获取与自主研发的创新收益之比较低时,或者外部技术的比重较低时,抑或创新收益的不确定性较高时,企业都应该选择推迟外部技术获取。②在专利转让模式的外部技术获取中,创新能力强的企业在外部技术获得专利授权之前实施获取,可以更好地促进后续创新;而创新能力弱的企业在外部技术获得专利授权之后实施获取,则可以对其后续创新绩效产生更好的促进作用。

This study constructs a real option model of external technology acquisition,analyzes the decision-making mechanism of external technology acquisition opportunities of enterprises,and puts forward research hypotheses.The relevant hypotheses are empirically tested with Chinese manufacturing listed companies as samples.The research finds that,firstly,the optimal time to acquire external technology is determined by the proportion of external technology,the ratio of external technology to independent R&D innovation income,and the uncertainty of innovation income.When the ratio of external technology acquisition to innovation income of independent R&D is low,or the proportion of external technology is low,or the uncertainty of innovation income is high,enterprises should choose to postpone external technology acquisition.Secondly,in the patent assignment mode,enterprises with strong innovation ability that acquire external technology before the target technology is granted a patent can better promote their innovation performance,while for enterprises with weak innovation ability,the acquisition of external technology after the target technology is granted a patent can better promote their innovation performance.