Firm R&D Behavior and Evolving Technology in Established Industries
通过构建随时间变化的技术度量指标，检验了关于产业因素如何影响企业研发投入的竞争性理论，发现企业研发主要是为了恢复被侵蚀的优势而非追求技术前沿。
One of the key mechanisms of firms' strategic renewal is R&D, and a key driver of the intensity of R&D is industry context. A number of theories develop propositions linking industry factors to firm R&D behavior, but these theories lack consensus. To date, empirical tests have been unable to resolve the competing predictions because of lack of time-varying measures of technology. We create new measures for technology and then conduct a test of the competing theories. Our results indicate that the data best match a model of innovative behavior in which firms invest in R&D principally to regain eroded advantage rather than to pursue the new frontier.