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Main Title: The impact of standards and regulation on innovation in uncertain markets
Author(s): Blind, Knut
Petersen, Sören S.
Riillo, Cesare A.F.
Type: Article
Language Code: en
Abstract: This study analyses the impact of formal standards and regulation on firms’ innovation efficiency, considering different levels of market uncertainty. We argue that formal standards and regulation have different effects, depending on the extent of market uncertainty derived from theoretical considerations about information asymmetry and regulatory capture. Our empirical analysis is based on the German Community Innovation Survey (CIS). The results show that formal standards lead to lower innovation efficiency in markets with low uncertainty, while regulations have the opposite effect. In cases of high market uncertainty, we observe that regulation leads to lower innovation efficiency, while formal standards have the reverse effect. Our results have important implications for the future application of both instruments, showing that their benefits heavily depend on the market environment.
Issue Date: 2017
Date Available: 19-Sep-2019
DDC Class: 330 Wirtschaft
500 Naturwissenschaften und Mathematik
600 Technik, Technologie
Subject(s): innovation
formal standardization
information asymmetry
regulatory capture
innovation efficiency
Sponsor/Funder: DFG, 163866004, GRK 1672: Innovationsgesellschaft heute: Die reflexive Herstellung des Neuen
Journal Title: Research Policy
Publisher: Elsevier
Publisher Place: Amsterdam
Volume: 46
Issue: 1
Publisher DOI: 10.1016/j.respol.2016.11.003
Page Start: 249
Page End: 264
EISSN: 1873-7625
ISSN: 0048-7333
Appears in Collections:FG Innovationsökonomie » Publications

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