IDEAS home Printed from
   My bibliography  Save this paper

Exploration or Exploitation of Knowledge from Universities



In a first step, we developed based on existing theoretical and empirical literature a series of hypotheses with respect to the relative importance of possible determinants of exploration and exploitation of knowledge in collaboration with universities and tested them on Swiss firm data. In a second step, we investigated the impact on innovation performance of knowledge exploration versus knowledge exploitation. We obtained a clear pattern of the differences between 'exploration'-oriented and 'exploitation'-oriented firms. We found that explorationoriented firms have a greater knowledge absorptive capacity, are technologically more diverse, and they are less exposed to intensive price competition compared to exploitationoriented firms. We further found a positive effect on innovation performance for explorationoriented firms but not for those that were exploration-oriented.

Suggested Citation

  • Spyros Arvanitis & Martin Woerter, 2012. "Exploration or Exploitation of Knowledge from Universities," KOF Working papers 12-322, KOF Swiss Economic Institute, ETH Zurich.
  • Handle: RePEc:kof:wpskof:12-322

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Pantelis Kalaitzidakis & Theofanis P. Mamuneas & Thanasis Stengos, 2011. "An updated ranking of academic journals in economics," Canadian Journal of Economics, Canadian Economics Association, vol. 44(4), pages 1525-1538, November.
    2. John P. Conley & Mario J. Crucini & Robert A. Driskill & Ali Sina Onder, 2011. "Incentives and the Effects of Publication Lags on Life Cycle Research Productivity in Economics," Vanderbilt University Department of Economics Working Papers 1122, Vanderbilt University Department of Economics.
    3. Theodore C. Bergstrom, 2001. "Free Labour for Costly Journals?," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 183-198, Fall.
    4. Glenn Ellison, 2011. "Is Peer Review In Decline?," Economic Inquiry, Western Economic Association International, vol. 49(3), pages 635-657, July.
    5. Daniel S. Hamermesh, 1994. "Facts and Myths about Refereeing," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 153-163, Winter.
    6. Holmstrom, Bengt & Milgrom, Paul, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," Journal of Law, Economics, and Organization, Oxford University Press, vol. 7(0), pages 24-52, Special I.
    7. Andrew J. Oswald, 2007. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-Makers," Economica, London School of Economics and Political Science, vol. 74(293), pages 21-31, February.
    8. Rablen, Matthew D. & Oswald, Andrew J., 2007. "Mortality and Immortality," The Warwick Economics Research Paper Series (TWERPS) 785, University of Warwick, Department of Economics.
    9. Klaus Wohlrabe, 2011. "Das Handelsblatt- und das RePEc-Ranking im Vergleich," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(17), pages 66-71, September.
    10. Hamermesh, Daniel S. & Pfann, Gerard A., 2009. "Markets for Reputation: Evidence on Quality and Quantity in Academe," IZA Discussion Papers 4610, Institute for the Study of Labor (IZA).
    11. Joshua S. Gans & George B. Shepherd, 1994. "How Are the Mighty Fallen: Rejected Classic Articles by Leading Economists," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 165-179, Winter.
    12. Bruce A. Weinberg & David W. Galenson, 2005. "Creative Careers: The Life Cycles of Nobel Laureates in Economics," NBER Working Papers 11799, National Bureau of Economic Research, Inc.
    13. Felix Schläpfer & Friedrich Schneider, 2010. "Messung der akademischen Forschungsleistung in den Wirtschaftswissenschaften: Reputation vs. Zitierhäufigkeiten," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(4), pages 325-339, November.
    14. Robert Hofmeister & Heinrich W. Ursprung, 2008. "Das Handelsblatt Ökonomen-Ranking 2007: Eine kritische Beurteilung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(3), pages 254-266, August.
    15. Glenn Ellison, 2002. "The Slowdown of the Economics Publishing Process," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 947-993, October.
    16. repec:jns:jbstat:v:227:y:2007:i:2:p:187-208 is not listed on IDEAS
    17. Rablen, Matthew D. & Oswald, Andrew J., 2008. "Mortality and immortality: The Nobel Prize as an experiment into the effect of status upon longevity," Journal of Health Economics, Elsevier, vol. 27(6), pages 1462-1471, December.
    18. Pierre-Philippe Combes & Laurent Linnemer, 2010. "Inferring Missing Citations: A Quantitative Multi-Criteria Ranking of all Journals in Economics," Working Papers halshs-00520325, HAL.
    19. Hofmeister Robert & Krapf Matthias, 2011. "How Do Editors Select Papers, and How Good are They at Doing It?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-23, October.
    20. Ursprung Heinrich W. & Zimmer Markus, 2007. "Who is the ”Platz-Hirsch“ of the German Economics Profession?: A Citation Analysis," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 227(2), pages 187-208, April.
    21. Benjamin F. Jones, 2010. "Age and Great Invention," The Review of Economics and Statistics, MIT Press, vol. 92(1), pages 1-14, February.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kof:wpskof:12-322. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.