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Strategic risk-management using complementary assets: organizational capabilities and the commercialization of human genetic testing in the UK

journal contribution
posted on 2023-06-07, 23:35 authored by Michael HopkinsMichael Hopkins, Paul NightingalePaul Nightingale
Teece's complementary asset framework explains how firms use assets to appropriate the benefits of innovation. This paper extends Teece's framework to show how firms also use complementary assets to disappropriate the risks of technical change. Based on case studies of the commercialisation of genetic testing in the UK the paper shows how firms can strategically alter the social distribution of risk to their advantage by managing distinct types of risk using different institutions with diverse risk management capabilities. We highlight the specific risk management capabilities of the state that are not available to either firms or markets, and their role in supporting technical change. Implications for policy and the academic understanding of technical change are discussed.

History

Publication status

  • Published

Journal

Research Policy

ISSN

0048-7333

Publisher

Elsevier

Issue

3

Volume

35

Page range

355-374

Pages

20.0

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Notes

This paper makes a connection between Teeces 1986 propositions about the role of complementary assets in innovation and the case of genetics, where companies may (contradicting the usual problem) wish to dis-appropriate their risk burdens. Dr Hopkins did 50% of the writing and all of the research, on the dimensions of risk management and the empirical application to UK genetic testing.

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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