Perspectives on Technology Transfer Strategies of Korean Companies in Point of Resource and Capability Based View

Seung-Ho Park, Yong-Gil Lee


Technology transfer (or sharing) is a common way to share external sources. There have been many studies on the relationship of self-R&D and technology transfer regarding its theoretical background and its efficiency. This present research has been developed by examining how a concrete measure of a company or a firm's real performance (increased sales ratio; growth rate) is related to the variables of resources and capabilities using the resource-based theory and open innovation model.

The approach of this research is unique in that it examines a sample comprising of licensing-in and technological cooperation variables, categorizes forms according to industry, and looks at such unique variables as a "process" (the ratio of CEO's and related-person's stocks). The data on 361 Korean firms was gathered from Korea's Data Analysis, Retrieval, and Transfer System and Worldwide Intellectual Property Search. Findings show that human, technology, and fixed assets are related positively to financial performance, and searching, absorbing, and openness capabilities as a control effect is related positively to a firm's increased sales ratio. Strategic plans for technology transfer companies are also included in this research.


technology transfer, resource-based theory, open innovation, performance, R&D outsourcing

Full Text:

PDF [en]


AGRAWAL, A. and G. Mandelker (1986), Corporate Capital Expenditures and Managerial Stock Holding: Agency or Signalling?, Mimeo.

ALBERT, M., Avery, D., Narin, F., and McAllister, P. (1990), "Direct validation of citation counts as indicators of industrially important patterns", Research Policy, 20(3), 251-259.

ALCHIAN, A. and H. Demsetz (1972), "Production, Information Costs, and Economic Organization", American Economic Review, 62, 777-795.

ARROW, K. (1969), "Classificatory notes on the production and transmission of technological knowledge", American Economic Review, 59, 29-35.

BALDWIN, J.R. and Hanel, P. (2003), Innovation and Knowledge Creation in an Open Economy, Cambridge: Cambridge University Press.

BARNEy, J. B. (1991), "Firm resources and sustained competitive advantage", Journal of Management, 17, 1,99-120.

BASANT, Rakesh and Brian Fikkert (1996), "The effects of R&D, foreign technology purchase, and domestic and international spillovers on productivity in Indian firms", Review of Economics & Statistics, 78(2), 187-199.

BRAGA, H., and Wilmore, L. (1991), "Technological imports and technological effort: an analysis of their determinants in Brazilian firms", The Journal of Industrial Economics, 39(4), 421-432.

BRANCH, B. (1974), "Research and Development Activity and Profitability-A Distributed Lag Analysis", Journal of Political Economy, 82(5), 999-1011

BROCKHOFF, K. (1992), "Instruments for patent data", Technovation, 12(1), 451-458.

BROWN, S. L. and Eisenhardt, K. M. (1995), "Product Development: Past Research, Present Findings and Future Directions", Academy of Management Review, 20(2), 343-378.

Brown, J. S. and Duguid, P. (2000), The Social Life of Information, Boston, MA: Harvard Business School Press. Buhner, R. (1987), "Assessing international diversification of West German corporations", Strategic Management Journal, 8, 25-37.

CAMP, S. M. and Sexton, D. L. (1992) "Technology Transfer and Value creation: Extending the theory beyond information exchange", Technology Transfer, spring-summer.

CHAN,S.H.J.D.Martin,andJ.W. Kensinger(1990),"Corporate research and development expenditures and share value", Journal of Financial Economics, 26(August), 255-276.

CHESBROUGH, Henry (2003), OPEN INNOVATION: The New Imperative for creating and profiting from technology, Boston, MA: Harvard Business School Press, 34-39, 45, 51,52-57

CHESBROUGH, Henry (2003), "The Era of Open Innovation", Sloan Management Review Summer, 35-41.

CHESBROUGH, Henry (2003), Open Innovation, Cambridge, MA: Harvard University Press.

CHEN, J., Chen, Y., and Vanhaverbeke W. (2007), Open Innovation Strategy and Catch-up of Chinese firms.

CHO, S. (1989), Capital Structure, Distribution of Stock Ownership Claims, and Research and Development Expenditures. Unpublished Dissertation. Washington Univ.

CHUANG, Y., and Lin, C. (1999), "Foreign direct investment, R&D and spillover efficiency: Evidence from Taiwan's manufacturing firms", Journal of Development Studies, 35(4), 117-137.

COBB, S. L. and Baker, T. S. (1992), "A Model of cross-cultural Training in the Transfer of Technology", Technology Transfer, 17(4), 8-15.

COHEN, W. M. and Klepper, S. (1996), "A reprise of size and R&D", Economic Journal, 106, 925-951.

CONNER, K. (1991), "A historical comparison of resource-based theory and five schools of thought within Industrial Organization economics: Do we have a new theory of the firm?", Journal of Management, 17, 121-154.

CONNER, K. R. and C. K. Prahalad (1996), "A resource-based theory of the firm: Knowledge versus opportunism", Organization Science, 7, 477-501.

COVIELLO, N. E. and Munro, H.J. (1995), "Growing the entrepreneurial firm: Networking for international market development", European Journal of Marketing, 29(7), 49-61.

DANNIELS ,J. D. & BrackerJ. (1989), "Profit performance: Do foreign opertations make a difference?", Management International Review, 29(1), 45-56.

DEOLALIKAR, A. and R.E. Evenson (1989), Technology production and technology purchase in Indian industry: An econometric analysis, Review of Economics and Statistics, 687-692.

DIERICKX, I., and Cool, K. (1989), "Asset stock accumulation and sustainability of competitive advantage", Management Science, 35(12), 1504-1511.

DUNNING, J. H. (1977), Trade, Location of Economic Activity and the MNE: A Search for An Eclectic Theory in B. Ohlin, P. O. Hesselborn, and P. M. Wijkman, eds., The International Allocation of Economic Activity, Holmes and Meier: N.Y.

DUNNING, J. H. (1979), "Explaining Changing Patterns of International Production: In Defence of the Eclectic Theory", Oxford Bulletin of Economics and Statistics, November , 269-295

DUSSAUGE, P., Garrette, B., & Mitchell, W. (2000), "Learning from competing partners: outcomes and durations of scale and link alliances in Europe, North America, and Asia", Strategic Management Journal, 21, 99-126.

DyER, J. H., & Singh, H. (1998), "The relational view: cooperative strategy and sources of interorganizational competitive advantage," Academy of Management Review, 23, 660-679.

EUH, Yoon-Dae (1996), International Business, Gyeonggi: Hakhyunsa.

FEAMS, D., Looy, B. V. and Debackere, K. (2005), "Interorganizational Collaboration and Innovation: Toward a Portfolio Approach", The Journal of Product Innovation Management, 22, 238-250.

CONTRACTOR, F.J., Kundu, S. K. & Hsu, C. C. (2003), "A three-stage theory of international expansion: the link between multinationality and performance in the service sector", Journal of International Business Studies, 34(1), 5-18.

FOSTER, G. (1971) "Traditional cultures and the impact of technological change", Harvard Business Review, Nov/Dec.

GERINGER, J. M., Beamish, P. W. & da Costa, R. C. (1989), "Diversification strategy and internationalization: implications for MNE performance," Strategic Management Journal, 10, 109-119.

GRANT, R. (1991). "The resource-based theory of competitive advantage: Implications for strategy formulation", California Management Review, 33(Spring), 114-135.

GRANT, R. M. (1996), "Toward a knowledge-based theory of the firm", Strategic Management Journal, 17(Winter Special Issue), 109-122.

GULATI, R., & Singh, H. (1998), "The architecture of cooperation: Managing coordination costs and appropriation concerns in strategic alliances", Administrative Science Quarterly, 43, 781-814.

HAGEDOORN, J. (1993), "Understanding the rational of strategic technology partnering: Interorganizational modes of cooperation and sectoral differences", Strategic Management Journal, 14,371-385.

HAGEDOORN, J. and Duysters, G. (2002), "Learning in dynamic inter-firm networks - The efficacy of quasi-redundant contacts", Organization Studies, 23(4), 525-548.

HARHOFF, D., Narin, F., Scherer, F. M., and Vopel, K. (1999), "Citation Frequency and the Value of Patented Inventions", The Rev. of Economics and Statistics, 81(3), 511-515.

HIRSCHEY, M., and WeygandtJ. J. (1985), "Amortization policy for advertising and research and development expenditures", Journal of Accounting Research, 23, 326-335.

HITT, M. A., Tyler, B. B., Hardee, C, & Park. D. (1995), "Understanding strategic intent in the global market place", Academy of Management Executive, 9(2), 12-19.

HITT, M. A., Dacin, M., Levitas, E., Arregle, J. L, & Borza, A. (2000), "Partner selection in emerging and developed market contexts: Resource-based and Organizational learning perspectivecs", Academy of Management Journal, 43, 449-467.

HU, A. G. Z., Jefferson, G. H. and Jinchang, Q. (2005), "R&D and Technology Transfer: Firm-Level Evidence from Chinese Industry", Review of Economics and Statistics, 87(4), 780-786.

JENSEN, M. and W. Meckling (1976), "Theory of Firms: Managerial Behavior, Agency Costs and Ownership Structure", Journal of Financial Economics, 3(4), 305-360.

JOHN, R. B. and Peter, H. (2003), Innovation and Knowledge Creation in an Open Economy, Cambridge: Cambridge University Press, 130-155.

KATILA, R. (2002), "New product search over time: past ideas in their prime?" Academy of Management Journal, 45, 995-1010.

KATILA, R, Ahuja, G. (2002), "Something old, something new: a longitudinal study of search behavior and new product introduction", Academy of Management Journal, 45(8), 1183-1194.

KIM, W. S. and Lyn, E. O. (1987), "Foreign Direct Investment Theories, Entry Barriers and Reverse Investments in the US Manufacturing Industries", Journal of International Business Studies, Summer, 53-66.

KOGUT, B. (1988), "Joint ventures The theoretical and empirical perspectives", Strategic Management Journal, 9, 319-332.

KOGUT, B. and U. Zander (1992), "Knowledge of the firm, combinative capabilities, and the replication of technology", Organization Science, 3, 383-397.

KOGUT, B., and Zander, U. (1993), "Knowledge of the firm and the evolutionary theory of the multinational corporation", Journal of International Business Studies, 24, 625-645.

LEE, C, Lee, K., and Lubatkin, M. (1998), "Relative absorptive capacity and interorganizational learning", Strategic Management Journal, 19, 467-477.

LEE, J. (1996), "Technology imports and R&D efforts of Korean manufacturing firms", Journal of Development Economics, 50(1), 197-210.

LEVY, David M., and Nestor E. Terleckyj (1983), "Effects of government R&D on private R&D investment and productivity: a macroeconomic analysis", Bell Journal of Economics, 14,551-561.

LUNDVALL, B-A. (1992), National Systems of Innovation: Towards a Theory of Innovation and Interactive Learning, London: Pinter.

MAHONEYJ.T.and PandianJ. R. (1992), "The resource-based view within the conversation of strategic management", Strategic Management Journal, 13, 363-380.

MAHONEY, J. (2001), "A resource-based theory of sustainable rents", Journal of Management, 27, 651-660.

META, F. J., W. L. Fuerst, J.B. Barney (1995), "Information technology and sustained competitive advantage: a resource-based analysis", MS Quarterly, 19(4), 487-505.

MILLER, J. & Pras, B. (1980), "The effects of multinational and export diversification on the profit stability of US corporations", South Economic Journal, 46(3), 792-805.

MOTTNER, S. and J. P.Johnson (2000), "Motivations and Risks in International Licensing: A Review and Implications for Licensing to Transitional and Emerging Economies", Journal of World Business, 35(2), 171-188.

NIETO, M.J. and Santamaría, L. (2007), "The Importance of Diverse Collaborative Networks for the Novelty of Product Innovation", Technovation, 27(6-7), 367-377.

ODAGIRI, H. (1983), "R&D Expenditures, Royalty Payments, and Sales Growth in Japanese Manufacturing Corporations", Journal of Industrial Economics, 32(1), 61-71.

PARKER, D., Zilberman, D., and Castillo, F. (1998), "Offices of Technology Transfer", Choices, 13(1), 19-25.

PARKER, D. and Zilberman, D. (1993), "University Technology Transfers: Impacts on Local and U.S. Economies", Contemporary Policy Issues, 11(2), 87-99.

PENROSE, E. T. (1959), The Theory of the Growth of the Firm, Oxford: Blackwell.

PILKINGTON, A. (2004), "Technology portfolio alignment as an indicator of commercialization: an investigation of fuel cell patenting", Technovation, 24(10), 761-771.

POWELL, W. W., Koput, K. W. and Smith-Doerr, L. (1996), "Inter-organizational Collaboration and the Local of Innovation: Networks of Learning in Biotechnology", Administrative Science Quarterly, 41,116-145.

PRIEM, R. and J. Butler (2001), "Is the resource-based "view" a useful perspective for strategic management research?", Academy of Management Review, 26, 22-40.

QIAN, G. (2002), "Multinationality, product diversification, and profitability of emerging US small- and medium-sized enterprises", Journal of Business Venturing, 17, 611-633.

RAMSAWAMY, K.(I993), "Multinationality and performance: an empirical examination of the moderating effect of configuration", Proceedings of Academy of Management, 142-146.

REDDy, A. M. and Zhao, L. (1990), "International Technology Transfer: A Review", Research Policy, 19, 285-307.

ROSENKOPF, L. and Nerkar, A. (2001), "Beyond Local Research: Boundary-Spanning, Exploration, and Impact in the Optical Disk Industry", Strategic Management Journal, 22(4), 287-306.

SAKKAB, N. Y. (2002), "Connect and Develop Complements Research and Develop at P&G", Research Technology Management, 45(2), 38-45.

SCOTT, C. and Brown, J. S. (1999), "Bridging Epistemo-logies: The Generative Dance between Organizational Knowledge and Organizational Knowing", Organization Science, 10(4), 381-400.

SOUGIANNIS.T. (1994), "The Accounting Based Valuation of Corporate R&D", The Accounting Review, 69(1), 44-68.

SPANOS, Y.E., and S. Lioukas (2001), "An examination into the casual logic of rent generation: contrasting Porter's competitive strategy framework and the resource-based perspective", Strategic Managementjournal, 22(10), 907-934.

STUART, T. E. (1998), "Network positions and propensities to collaborate: an investigation of strategic alliance formation in a high-technology industry," Administrative Science Quarterly, 43, 668-698.

STUART, T. E. (2000), "Interorganizational alliances and the performance of firms: A study of growth and innovation rates in a high-technology industry", Strategic Managementjournal, 21, 791-811.

SZEWCZYK, S. H., G. P. Tsetsekos and Z. Zantout (1996), "The Valuation of Corporate R&D Expenditures: Evidence from Investment Opportunities and Free Cash Flow", Financial Management, 25, 105-110.

SZULANSKI, G. (1996), "Exploiting Internal Stickiness: Impediments to the Transfer of Best Practice", Strategic Managementjournal, Winter Special Issue, 17, 27-43.

TALLMAN, S. & Li, J. T. (1996), "Effects of international diversity and product diversity on the performance of multinational firms", Academy of Management Journal, 39, 179-196.

TEECE, D. J. (1977), "Technology transfer by multinational firms: The resource cost of transferring technological know-how", Economic Journal, 87, 242-261.

THURSBY, J. and Thursby, M. (2000), "Industry Perspectives on Licensing University Technologies: Source and Problems", The Journal of the Association of University Technology Managers, 12,9-22.

TIHANYI, L. and A. S. Roath (2002), "Technology Transfer and Institutional Development in Central and Eastern Europe," Journal of World Business, 37, 188-198

TWISS, Brian (1974), Managing Technological Innovation, Longman Co., New York.

VAN DE VRANDE, V, et al. (2006), "Choosing Governance Modes for External Technology Sourcing", R&.D Management, 36(3), 347-363.

VON HIPPEL, E. (1988), The Sources of Innovation, New York: Oxford University Press.

WERNERFELT, B. (1984). "A resource-based view of the firm", Strategic Management Journal, 5, 171-180.

WEST, J. and Gallagher, S. (2006), "Challenges of Open Innovation: The Paradox of Firm Investment in Open-source Software", R&D Management, 36(3), 319-331.

YEOH, Poh-Lin and Roth, Kendall (1999), "An empirical analysis of sustained advantage in the U.S. pharmeceutical industry: Impact of firm resources and capabilities", Strategic Management Journal, 20, 637-653.

ZHAO, H. (1995), "Technology imports and their impact on the enhancement of China's indigenous technological capability", Journal of Development Studies, 31(4), 585-602.

DATA Analysis, Retrieval, and Transfer System (DART),

WORLDWIDE Intellectual Property Search (WIPS),



Copyright (c)

2017 © Universidad Alberto Hurtado - Facultad de Economía y Negocios. 
Erasmo Escala 1835 - Santiago, Chile.
Economic Analysis Review | Observatorio Económico | Gestión y Tendencias 

Journal Supported by Chimera Innova Group