What do firms know? What do they produce? A new look at the relationship between patenting profiles and patterns of product diversification

What do firms know? What do they produce? A new look at the relationship between patenting... In this work, we analyze the relationship between the patterns of firm diversification, if any, across product lines and across bodies of innovative knowledge, proxied by the patent classes where the firm is present. Putting it more emphatically, we investigate the relationship between “what a firm does” and “what a firm knows.” Using a newly developed dataset matching information on patents and products at the firm level, we provide evidence concerning firms’ technological and product scope, their relationships, the size-scaling and coherence properties of diversification itself. Our analysis shows that typically firms are much more diversified in terms of products than in terms of technologies, with their main products more related to the exploitation of their innovative knowledge. The scaling properties show that the number of products and technologies increases log-linearly with firm size. And the directions of diversification themselves display coherence between neighboring activities also at relatively high degrees of diversification. These findings are well in tune with a capability-based theory of the firm. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

What do firms know? What do they produce? A new look at the relationship between patenting profiles and patterns of product diversification

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Publisher
Springer US
Copyright
Copyright © 2016 by Springer Science+Business Media New York
Subject
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-016-9783-0
Publisher site
See Article on Publisher Site

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