Journal
LONG RANGE PLANNING
Volume 54, Issue 5, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.lrp.2020.101991
Keywords
Digitalization; Emerging technology; Internet of things (IoT); Prior performance; Board capital
Categories
Funding
- Tyrolean Science Fund [UNI0404/2026]
- Austrian Federal Ministry of Science (Marietta Blau scholarship)
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This study examines the mechanisms that drive firms to engage in emerging digital technologies, specifically focusing on the dominant coalition's motivation and its ability to deploy necessary resources. It finds that a firm's prior economic performance and human and social board capital play important roles in influencing its adoption of new digital technologies.
In this study, we advance two mechanisms that lead firms to engage in emerging digital technologies, namely, the dominant coalition's motivation and its ability to deploy the resources needed to pursue such motivation. Building on the performance and strategic development, and on board capital literature streams, we construe prior economic performance as a proxy of the firm's motivation, and human and social board capital as proxies of the firm's ability, analyzing their effect on adding emerging digital technologies, such as Internet of Things solutions, to the firm's resource base. Longitudinal analyses on a panel of Fortune 500 manufacturing firms between 2002 and 2012 reveal that these mechanisms highlight two important aspects of firm influence that can shape its digital technology behavior, explaining the heterogeneity and variability in firms engaging in emerging digital technologies.
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