Browse > Article
http://dx.doi.org/10.5762/KAIS.2020.21.10.471

An Empirical Study on the Relationship between Corporate and Radical Innovation based on Patent Information  

Jeon, Suyeon (Defense Agency for Technology and Quality)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.21, no.10, 2020 , pp. 471-479 More about this Journal
Abstract
In this paper, we analyze features of radical innovative businesses using their patents. Although patents have been used to evaluate outcomes of businesses from the 1980s, it is challenging to use patents for radical innovations. We examined the possibility of taking advantage of patents for an indicator that represents a radical innovation in pharmaceutical industry. To this end, we collected FDA approval data from the U.S. Food and Drug Administration and patent data of 18 pharmaceutical companies. For analysis, we utilized the network centrality analysis and Wilcoxon signed ranked test, which is a non-parametric statistical hypothesis test used to compare two related samples. We observed that a radical innovative company typically cooperates with other research groups, such as universities and companies, and acts as a hub for connectivity in pharmaceuticals. Also, we found that there are differences in centrality between radical firms and non-radical firms. Thus, we expect that the results of this study will help in developing strategies for research and development of pharmaceutical companies and identifying factors affecting radical innovation in the future.
Keywords
Radical innovation; Patent statistics; Patent analysis; Network analysis; Pharmaceutical industry;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 M.Igami, "Patent Statistics as Innovation Indicators? Evidence from the Hard Disk Drive Industry", The Japanese Economic Review, Vol.70, Issue.13, 2019. DOI: https://doi.org/10.1111/jere.12234
2 KHIDI. "Statistical Analysis Report", KDI Journal of Health Industry Statistics, 2010.
3 A.B.Sorescu, R.K.Chandy, and J.C.Prabhu. "Sources and Financial Consequences of Radical Innovation: Insights from Pharmaceuticals" Journal of Marketing, Vol.67, pp.82-102. 2003. DOI : http://doi.org/10.1509/jmkg.67.4.82.18687   DOI
4 R.Leifer. "Implementing Radical Innovation in Mature Firms: The Role of Hubs.", The Academy of Management Executive, Vol.15, No.3, pp.102-113. 2001 DOI : https://doi.org/10.5465/ame.2001.5229646
5 K.B.Dahlin, D.M.Behrens, "When is an invention really radical? Defining and measuring technological radicalness", Research Policy 34, pp. 717-737, 2005. DOI : https://doi.org/10.1016/j.respol.2005.03.009   DOI
6 B.Leten, R.Belderbos, and B.V.Looy, "Technological Diversification, Coherence, and Performance of Frims." Product Innovation Management, Vol.24, pp. 567-579. 2007. DOI : https://doi.org/10.1111/j.1540-5885.2007.00272.x   DOI
7 B.L.Basberg. "Patents and the measurement of technological change: A survey of the literature." Research Policy, Vol.16, pp. 131-141. 1987. DOI : https://doi.org/10.1016/0048-7333(87)90027-8   DOI
8 Schumpeter, J.A, "The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle", 1934.
9 Rajesh K. Chandy, Gerard J. Tellis, "Organizing for Radical Product Innovation: The Overlooked Role of Willingness to Cannibalize", Journal of Marketing Research Vol 35, Issue 4, 1998, DOI : https://doi.org/10.1177/002224379803500406
10 Acs, J.Zoltan., B.D. Audretsch, and B.Carlsson. "Flexible technology and firm size." Small Business Economics, Vol. 3.4, pp. 307-319. 1991.   DOI
11 W.S.Comanor, F.M.Scherer, "Patent Statistics as a Measure of Technical Change", Journal of Political Economy, Vol. 77, issue. 3, pp.392-98, 1969. DOI : http://dx.doi.org/10.1086/259522   DOI
12 H.Ernst. "Patent applications and subsequent changes of performance: evidence from time-series cross-section analysis on the firm level." Research Policy, Vol. 30, pp. 143-157. 2001. DOI : https://doi.org/10.1016/S0048-7333(99)00098-0   DOI
13 M.K.Fung, W.W.Chow. "Measuring the intensity of knowledge flow with patent statistics." Economics Letters, Vol.74, pp. 353-358. 2002. DOI : https://doi.org/10.1016/S0165-1765(01)00558-4   DOI
14 A.G.Z.Hu, A.B.Jaffe. "Patent citations and international knowledge flow: the cases of Korea and Taiwan." International Journal of Industrial Organization, Vol.21, pp.849-880, 2003. DOI : https://doi.org/10.1016/S0167-7187(03)00035-3   DOI
15 J.Kho, K.Cho, Y, "A Study on Recent Reseasrch Trend in Management of Technology Using Keywords Network Analysis", Journal of Intelligent Information System, Vol.19, No.2, pp.101-123, 2013. DOI : http://dx.doi.org/10.13088/jiis.2013.19.2.101   DOI
16 M.Igami, J.Subrahmanyam, "Patent Statistics as an Innovation Indicator? Evidence from the Hard Disk Drive Industry", The Japanese Economic Review, Volume.70, Issue.3, pp.308-330, 2019. DOI : https://doi.org/10.1111/jere.12234   DOI