The Impact of Technology Licensing Payment Mechanisms on Firms’ Innovative Performance: Evidence from Small- and Medium-Sized Enterprises
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Although numerous papers have examined the ways in which firms can improve their innovative performance through technology alliances, empirical research on the effect of contract structures in technology licensing has been scarce. This study provides evidence that the payment mechanisms agreed upon in licensing contracts affect the licensee firms’innovative performance. Based on a dataset of technology licensing contracts concluded by small- and medium-sized enterprises around the world, this paper analyzes the influence of fixed-fee payments and ongoing payments-including royalty, milestone, and equity payments-on firm performance. The findings reveal that ongoing payments are more likely to positively influence the innovative performance of licensee firms. These outcomes provide crucial insights into the ways in which small high-tech firms can utilize their external technology resources.
Abstract
Although numerous papers have examined the ways in which firms can improve their innovative performance through technology alliances, empirical research on the effect of contract structures in technology licensing has been scarce. This study provides evidence that the payment mechanisms agreed upon in licensing contracts affect the licensee firms’innovative performance. Based on a dataset of technology licensing contracts concluded by small- and medium-sized enterprises around the world, this paper analyzes the influence of fixed-fee payments and ongoing payments-including royalty, milestone, and equity payments-on firm performance. The findings reveal that ongoing payments are more likely to positively influence the innovative performance of licensee firms. These outcomes provide crucial insights into the ways in which small high-tech firms can utilize their external technology resources.
참고문헌 (30)
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