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| Different Effects of Acquisition of Foreign or Domestic Technology on Innovation Performance of High-Tech Industry |
| Xu Yuyun1,Wang Jun1,Zhang Yifei2,Yin Xiangrong3 |
| (1.School of Economics, Capital University of Economics and Business, Beijing 100070, China;2.School of Economics and Management, Jiangsu University of Science and Technology, Zhenjiang 212003, China;3.University of Chinese Academy of Social Sciences (Graduate School), Beijing 102488, China) |
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Abstract In the context of open innovation, the two approaches of external technology acquisition, domestic technology purchase and technology import, have different effects on innovation performance. Based on China high-tech industry provincial panel data during 2012-2018, this paper investigates the difference in the effects of domestic technology purchase and technology import on innovation performance in different lag phases. It is found that the significant difference between domestic technology purchase and technology import on innovation performance of high-tech industry is shown as effects of different time lags. Domestic technology purchase can promote the new products sales and applications of invention patents in a relatively shorter time. Technology import can only promote new products sales in the short term, but it can further promote new products sales simultaneously promote applications of invention patents in a later lag. Internal R&D investment moderates the relationship of the two different sources of external technology and innovation performance in high-tech industry differently. Therefore, high-tech industrial enterprises should take time-lag into account and purchase external technology from different sources according to different innovation development goals. Necessary internal R&D investment in high-tech industry should also be maintained to improve the ability to absorb foreign technology.
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Received: 02 December 2020
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