How firm's technology convergence effects market value: moderating effect of institutional contingencies in emerging markets Online publication date: Sun, 30-Jul-2023
by Shuangying Chen; Feng Fu; Qiyue Li
International Journal of Technology Management (IJTM), Vol. 93, No. 1/2, 2023
Abstract: Although technology convergence has been examined by technological management literature, the effect of a firm's technology convergence on performance and the contingencies influencing the above relationship have remained largely unexplored. Drawing upon institutional theory and technological strategy perspective, this study examines how a firm's technology convergence influences market value and how institutional contingencies moderate the role in the markets of an emerging economy. The sample chosen is Chinese listed high-technology firms between 2002 and 2010. The findings indicate that the relationship between a firm's technology convergence and market value follows an inverted U-shaped pattern. The relationship is strengthened by political participation; however, it is weakened by strong regional intellectual property regimes and those with state ownership. This study provides theoretical insights and managerial implications that might underlie some of the key findings on technology convergence in emerging markets.
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