Why some firms never invest in formal R&D

@inproceedings{CuervoCazurra2010WhySF,
  title={Why some firms never invest in formal R&D},
  author={Alvaro Cuervo-Cazurra and C. Annique Un},
  year={2010}
}
In this paper we study the frequency of formal R&D investments. We link real options theory to the knowledge‐based view to explain how a firm's knowledge resources influence its frequency of investing in R&D to establish technological options. Specifically, we propose that a firm that lacks internal knowledge resources is more likely to never invest in R&D, a firm that has both internal and external knowledge resources is more likely to sometimes invest in R&D, while a firm that has internal… CONTINUE READING

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