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<p>Financial constraints play a significant role in technology licensing by limiting firms' ability to adopt new technologies. A financially constrained firm may struggle to afford the upfront costs or meet the ongoing financial requirements of licensing agreements. This paper explores how credit constraints affect technology transfer by considering three different situations—the cost-inefficient firm being, (1) credit capped before and after licensing (2) not credit constrained before but constrained after licensing, (3) credit capped after licensing but not before licensing. Contrary to the existing literature, we find that a financial constraint causes feasible region for licensing to shrink. Licensing is not feasible in situation (1). The licensor will offer a <InlineEquation ID="IEq1"> <EquationSource Format="TEX">\((i)\)</EquationSource> <EquationSource Format="MATHML"><math> <mrow> <mo stretchy="false">(</mo> <mi>i</mi> <mo stretchy="false">)</mo> </mrow> </math></EquationSource> </InlineEquation> moderate to inferior technology in situation (2) and <InlineEquation ID="IEq2"> <EquationSource Format="TEX">\((ii)\)</EquationSource> <EquationSource Format="MATHML"><math> <mrow> <mo stretchy="false">(</mo> <mi>i</mi> <mi>i</mi> <mo stretchy="false">)</mo> </mrow> </math></EquationSource> </InlineEquation> moderate technology in situation (3), for a fixed fee contract. The study highlights how credit constraints not only affect the firm’s ability to license technology but also influence the quality of technology offered in the agreement.</p>

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Access to credit: hindrance to technology transfer?

  • 期刊论文

  • 发表日期：

    2025年2月12日

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  • Saswati Chakraborty,
  • Oindrila Dey

摘要

Financial constraints play a significant role in technology licensing by limiting firms' ability to adopt new technologies. A financially constrained firm may struggle to afford the upfront costs or meet the ongoing financial requirements of licensing agreements. This paper explores how credit constraints affect technology transfer by considering three different situations—the cost-inefficient firm being, (1) credit capped before and after licensing (2) not credit constrained before but constrained after licensing, (3) credit capped after licensing but not before licensing. Contrary to the existing literature, we find that a financial constraint causes feasible region for licensing to shrink. Licensing is not feasible in situation (1). The licensor will offer a \((i)\) ( i ) moderate to inferior technology in situation (2) and \((ii)\) ( i i ) moderate technology in situation (3), for a fixed fee contract. The study highlights how credit constraints not only affect the firm’s ability to license technology but also influence the quality of technology offered in the agreement.