Analysis of Success Factors for Technology Commercialization using Meta-Analytic Structural Equation Modeling

Abstract

The purpose of this study is to identify core influencing factors of technology commercialization at a firm level in Korea and to propose a comprehensive model of a successful technology commercialization process. The data was collected from 70 studies selected through a systematic literature review, and two meta-analytic methods were applied to analyze these data. First, we analyzed the data by a meta-analysis(MA) method and identified six key factors influencing the success of the technology commercialization. The results of meta-analysis showed 0.3672 of correlation coefficient as overall average effects size which corresponded to a high side of medium effect. Next, we conducted a meta-analytic structural equation modeling(MASEM) to test relationships among these variables and to present a conceptual model of technology commercialization. The adjusted model showed a better fit to the data and significant path coefficients, and thus was adopted as the final research model of technology commercialization of the present study.

Effects of Technology Commercialization Proactiveness on Commercialization Success: The Case of ETRI in Korea

“…However, as earlier studies were mainly conducted from a technology supplier's perspective, the research theme was focused on the technology transfer of developed R&D results [39][40][41][42][43]. The spread of R&D results is vital, but we need to focus more on technology commercialization success in order to create a sustainable economic performance for companies and the country [22][23][24].…”

“…Chung and Hyun [23], Bozeman et al [24], Lee [25], and Hsu et al [44] have identified success factors for technology transfer and commercialization based on analyses of several studies as summarized in Table 1a.…”

“…Prior studies have been conducted on the success factors of technology transfer and technology commercialization [22][23][24][25]. However, in many cases, the concepts of technology transfer and technology commercialization were often confused, and since the examined technology providers were not restricted to PRIs, there was a limitation in that their overall scope was considerably broad.…”

Factors that Influence Successful Technology Commercialization

“…The feasibility of the commercialization of information technology and biotechnology was evaluated by Zemlickienė and Turskis (2020) using the MCDM technique. The factors enumerated byZemlickienė et al (2017) were also considered for the assessment of the commercialization of both information technology and biotechnology Chung and Hyun (2019). used the meta-analytic structural equation model to analyse the success factors for TC.…”