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Innovation failure and firm growth: dependence on firm size and age

Lookup NU author(s): Dr Jungho KimORCiD

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Abstract

This paper investigates whether a firm’s failure in undertaking innovative activities can promote or hamper its growth. It conducts a two-stage regression for the determinants innovation failure and its impact on firm growth by analysing the data of firms in the Korean manufacturing sector. It finds that firms are likely to fail in innovation when they have either low or extremely high levels of R&D intensity, conduct cooperative R&D, or face financial constraints. In addition, it finds that under these conditions, failed innovators have lower rates of growth than successful innovators, but also that firm size and age moderate the negative effect of innovation failure on firm growth. These findings imply that the impact of innovation failure on firm growth differs depending upon internal resources and resilience capability.

Publication metadata

Author(s): Kim J

Publication type: Article

Publication status: Published

Journal: Technology Analysis and Strategic Management

Year: 2022

Volume: 34

Issue: 2

Pages: 166-179

Print publication date: 01/02/2022

Online publication date: 02/03/2021

Acceptance date: 10/02/2021

ISSN (print): 0953-7325

ISSN (electronic): 1465-3990

Publisher: Routledge

URL: https://doi.org/10.1080/09537325.2021.1892622

DOI: 10.1080/09537325.2021.1892622

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