Firm heterogeneity within industries: how important is 'industry' to innovation?

In this paper, we assess how important 'industry' is to innovation. Our empirical estimates show that 'industry factors' matter little to how firms' search for new innovations and that firms within the same industry have widely different perceptions of the obstacles constrai...

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Bibliographic Details
Published in:Technology analysis & strategic management 2013-05, Vol.25 (5), p.527-542
Main Author: Clausen, Tommy Høyvarde
Format: Article
Language:English
Subjects:
Constraining
Empirical analysis
Estimates
Evolution
Evolutionary
Evolutionary theory
Heterogeneity
Industry
Innovation
Innovations
Organization development
Organization theory
Perception
sectoral systems of innovation
Strategic management
Studies
Technological change
Technology assessment
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Summary:In this paper, we assess how important 'industry' is to innovation. Our empirical estimates show that 'industry factors' matter little to how firms' search for new innovations and that firms within the same industry have widely different perceptions of the obstacles constraining technological change. These results offer empirical support to recent evolutionary theory where firms have heterogeneous capabilities and pursue different approaches to innovation. Structural variables at the industry level have a stronger influence on firm innovation. This result supports 'sectoral innovation system' approaches where firms are more 'constrained' by technological regimes underlying industry evolution. Hence, the driving forces behind technological evolution are found at both the firm and industry level, but to different degrees.
ISSN:0953-7325
1465-3990
DOI:10.1080/09537325.2013.785512