Why some firms never invest in formal R&D
研究了企业知识资源如何影响其正式研发投资频率，发现缺乏内部知识资源的企业更可能从不投资，而拥有内外知识资源的企业有时投资，仅有内部知识资源的企业则总是投资。
Abstract In this paper we study the frequency of formal R&D investments. We link real options theory to the knowledge‐based view to explain how a firm's knowledge resources influence its frequency of investing in R&D to establish technological options. Specifically, we propose that a firm that lacks internal knowledge resources is more likely to never invest in R&D, a firm that has both internal and external knowledge resources is more likely to sometimes invest in R&D, while a firm that has internal knowledge resources but lacks external knowledge resources is more likely to always invest in R&D. Copyright © 2010 John Wiley & Sons, Ltd.