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首页> 外文期刊>The journal of technology transfer >The impact of technology transfer contract on a firm's market value in Korea
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The impact of technology transfer contract on a firm's market value in Korea

机译:技术转让合同对韩国企业市值的影响

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摘要

Technology transfer has been evaluated as a driving force of economic growth as well as one way to create new innovation. In order to make a successful technology transfer, both additional emission efforts by the supplier and absorption efforts by the recipient are required, because it is not as simple as the acquisition of a capital good. This study seeks to better understand the nature of successful technology transfer in Korea. We empirically analyzed the impact of the supplier's characteristics (cultural distance, relationship type, form of technology transfer, and licensing type) and the recipient's characteristics (absorptive capacity) on the market value of firms in Korea using the event study methodology. We found that technology transfer announcements significantly increase the market value of firms in Korea, and market responses to the recipient firms are significantly greater than those to the supplier firms. Our results showed that the effect of alliances with complementors (e.g., university, government laboratory) is greater than that of alliances with industry players, and the effect of an exclusive license as a method of technology transfer is greater than that of a non-exclusive license. However, we were not able to determine whether the impact of high levels of absorptive capacity is significantly different from that of low levels of absorptive capacity. Our study will not only complement and extend research on technology transfer, but also provide firms with various methods to decrease the risks related to technology transfer.
机译:技术转让已被评估为经济增长的驱动力,也是创造新创新的一种方式。为了成功进行技术转让,既需要供应商的额外排放努力,也需要接受者的吸收努力,因为这不像获取资本货物那么简单。这项研究旨在更好地了解韩国成功进行技术转让的本质。我们使用事件研究方法,通过实证分析了供应商特征(文化距离,关系类型,技术转让形式和许可类型)和接收者特征(吸收能力)对韩国公司市场价值的影响。我们发现,技术转让公告显着提高了韩国公司的市场价值,对接收方公司的市场反应明显大于对供应商方的市场反应。我们的结果表明,与补充者(例如大学,政府实验室)结盟的效果要大于与行业参与者结盟的效果,并且独家许可作为技术转让方法的效果要大于非独占性的效果。执照。但是,我们无法确定高吸收能力水平的影响是否与低吸收能力水平的影响显着不同。我们的研究不仅将补充和扩展技术转让方面的研究,而且还将为企业提供各种降低技术转让风险的方法。

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