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The Relationship between Innovation and Market Share: Evidence from the Global LCD Industry

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  • Jeongsik Lee
  • Byung-Cheol Kim

Abstract

We investigate the impact of technological capability on firm market share using technology investment data in the global thin-film-transistor liquid-crystal-display panel industry from 1999 to 2007. The Arellano--Bond estimation of the dynamic panel model indicates that prior technological capability is positively correlated with current market share. The magnitude of this effect appears economically substantial: an improvement of technological capability by one standard deviation implied a permanent increase of 2.6 percent-point in quarterly market share, a return tantamount to $470 million in 2007 sales. The Granger test reveals that technological capability helps to predict future market share, but that the inverse is not true.

Suggested Citation

  • Jeongsik Lee & Byung-Cheol Kim, 2013. "The Relationship between Innovation and Market Share: Evidence from the Global LCD Industry," Industry and Innovation, Taylor & Francis Journals, vol. 20(1), pages 1-21, January.
    • Handle: RePEc:taf:indinn:v:20:y:2013:i:1:p:1-21
    DOI: 10.1080/13662716.2013.761375
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    Cited by:

    1. Choi, Joonhwan & Lee, Jaegul, 2017. "Repairing the R&D market failure: Public R&D subsidy and the composition of private R&D," Research Policy, Elsevier, vol. 46(8), pages 1465-1478.
    2. Manh Cuong Nguyen & Viet Anh Dang & Tri Tri Nguyen, 2023. "The transfer of risk taking along the supply chain," Review of Quantitative Finance and Accounting, Springer, vol. 61(4), pages 1341-1378, November.
    3. Kim Wang, 2017. "Technology Deployment By Late Movers," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-25, May.
    4. CHEN, Guan-Chih & TSAO, Shuling, 2019. "A Study On R&D Expenditure And Corporate Value Of Chinese High-Tech Industry," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 23(4), pages 39-51, December.

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