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The way of technological acquisition: Are firms below aspiration level reinforcing the cornerstone?

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  • Lee, Jongseon
  • Kim, Nami

Abstract

This study investigates when technology-intensive firms acquire core technologies from external markets, challenging the traditional preference for internal development. Drawing on the behavioral theory of the firm, we examine how innovative performance shortfalls influence firms’ purchasing decisions on external patents in core areas. While previous research has shown that poor performance influences the reconfiguration of technology sourcing vehicles, less research has explored the specific technology areas that firms acquire. Furthermore, we explore the moderating effects of the inconsistency of the informative signals and the authority of the decision-making entity on acquisition decisions. This study extends the boundaries of firm research to include the generation of knowledge, providing new insights into the impact of negative performance feedback and the role of the technology transaction market.

Suggested Citation

  • Lee, Jongseon & Kim, Nami, 2026. "The way of technological acquisition: Are firms below aspiration level reinforcing the cornerstone?," Journal of Business Research, Elsevier, vol. 204(C).
    • Handle: RePEc:eee:jbrese:v:204:y:2026:i:c:s0148296325006575
    DOI: 10.1016/j.jbusres.2025.115834
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