Unpacking experience effects in developing novel products for new markets
研究了企业通过进入新市场积累的探索经验如何影响后续创新绩效，发现使用新技术比沿用现有技术更难从探索经验中学习，基于52家生物制药公司1979-2000年的项目数据验证了理论边界条件。
A key process for exploration is to develop products in order to serve new markets. An implicit assumption in the organizational learning literature, not yet tested empirically, is that the increasing breadth of knowledge and experience firms gain by expanding into new product markets (i.e. exploration experience) may enhance their capacity to innovate in the future. We address how firms may find it more challenging to learn from their exploration experience when they develop new technology instead of employing their existing technology to create new products. In our theory and analyses, we address endogeneity by accounting for the behavioral learning process that leads managers to explore new markets following periods of poor firm performance. We test our model using fine-grained data on new product development projects initiated by 52 biopharmaceutical firms between 1979 and 2000 and find empirical support. Our study identifies a theoretical boundary condition on the relationship between exploration experience in new product markets and subsequent performance in developing novel products.