Chapter 6: Conclusions
6.3 Future research
1. “Information asymmetry” is an important assumption for contemporary theory.
Under “information asymmetry”, R&D partners may conduct opportunistic behavior in an R&D cooperation relationship. Although there is a high degree of difficulty in modeling, future researchers should try to incorporate this assumption into the model of R&D cooperation.
2. To prevent imitation by other competitors, some companies would rather not apply for the patent to avoid the leak of technique in advance. Moreover, some invention can- not apply for patent, and the patent also has to be commercialized to create performance for the company. Therefore, researchers can adopt more representative measures, such as the shares of new product sales to total sales, to trace the relationship between R&D outputs and financial performance.
3. In this study I collect R&D cooperation data from 1998-2001. Future research should cover a longer time period and more recent data in R&D cooperation research.
4. The research shows the importance of institutions, such as the Industrial Technology Research Institute (ITRI), in encouraging technological development and diffusion in Taiwan through collaborative projects (e.g. Hagedoorn et al. 2000;
shows that Taiwan is assessed to do comparatively well in the extent to which firms collaborate with universities (e.g. Sakakibara and Dodgson 2003). Hence collaborating with universities or institutions is more likely to be chosen as a route that exhibits faster technological and product developments. It would be interesting to include university laboratories and government agencies as one of the R&D cooperation types, and examine the impact of academic R&D cooperation on R&D investments, R&D outputs, and financial performance.
5. Most of the R&D cooperation studies relate to North America, Japan, and Europe (e.g. Veugelers 1998; Hagedoorn et al. 2000; Man and Duysters 2005). Taiwan is deemed a core innovator in the world. However, Taiwan has received little attention because of the problem of difficult data collection. In addition, the empirical evidence that exists to test the differences among countries is scarce (e.g.
Man and Duysters 2005). Therefore, the comparison between Taiwan and other countries will be a promising avenue for R&D cooperation study.
6. R&D cooperation behavior is a complex phenomenon. Different industries have different R&D patterns and engage in different types of R&D cooperation.
Accordingly, the impacts of R&D cooperation on financial performance will be different, too. Future researchers still need to do more qualitative research, such as case study and field study, to better understand the essence and dynamic behavior of R&D cooperation.
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