THE EFFECT OF TECHNOLOGY COMMERCIALIZATION CAPABILITIES ON NEW PRODUCT DEVELOPMENT AND BUSINESS PERFORMANCE: THE MODERATING EFFECT OF BUSINESS REFERENCE

In the Fourth Industrial Revolution era, companies face unprecedented competition and market uncertainty, necessitating effective technology commercialization for survival. This study examines how technology commercialization capabilities influence new product development and business performance, particularly investigating business age as a moderating factor. The research analyzed data from 427 Fourth Industrial Revolution manufacturing companies using structural equation modeling, examining relationships between four technology commercialization capabilities (research, absorption, marketing, and manufacturing), new product development, and performance outcomes. Results demonstrated that research, absorption, and manufacturing capabilities significantly impact new product development, with manufacturing capability exhibiting the strongest influence. New product development showed positive effects on both financial and non-financial performance metrics. Notably, business age emerged as a crucial moderator in the relationship between technology commercialization capabilities and new product development. Companies with longer histories displayed stronger effects of research capabilities, while manufacturing and absorption capabilities proved effective regardless of organizational age. These findings enhance our understanding of how different technology commercialization capabilities contribute to business success across various organizational life stages, offering valuable insights for companies aiming to optimize their technology commercialization strategies in an increasingly competitive market environment.