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Abstract This paper studies the effect of TOE on enterprise’s R&D investment and the value creation mechanism of R&D. Taken listed companies for example, we discover: (1) The TOE frame has worked remarkably well for explaining the enterprise's R&D investment behavior: as technical factors are the foundation of R&D investment decision; the organizational factors are the internal motive; market centrality and intellectual property protection are the external factors.(2) With further study we analyze how the R&D investment affects the enterprise's performance and propose an “Ice Modal” and demonstrate it. (3) The result of this paper proves that the R&D creation process of value is affected by both technical specificity and complementary asset, thus empirically examines the factors of Teece’s theory for R&D value-creation.
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Received: 02 June 2011
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Corresponding Authors:
ZHEN Li-ming
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2012, Vol. 1 
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