Information Asymmetries and Technological Innovation in Large Engineering Construction Projects

R&D Management, Vol. 26, Nos. 1-3, pp. 357-369, 1996

Posted: 11 Jun 2011

See all articles by Joseph Lampel

Joseph Lampel

Alliance Manchester Business School

Date Written: 1996

Abstract

Research on technological innovation shows that information asymmetries between suppliers and buyers constitute a major barrier to the successful introduction of new products. Most of this research, however, puts the burden of overcoming these asymmetries on producers of new products. In the case of large engineering construction projects innovation is often the result of joint problem solving by owners, prime contractors, consultants, and equipment suppliers. In this paper we examine the relationship between innovativeness of large engineering construction projects and internal owner capabilities, degree of control over project, and dependence on external organizations, We use data on power plant construction projects to test hypotheses derived from agency and organization theories of innovation. Our results indicate that organization theories of innovation are on the whole better predictors of the impact on innovativeness of owner's capabilities and relationship to external organizations.

Keywords: technological innovation, information asymmetries, engineering construction, power plant construction

Suggested Citation

Lampel, Joseph, Information Asymmetries and Technological Innovation in Large Engineering Construction Projects (1996). R&D Management, Vol. 26, Nos. 1-3, pp. 357-369, 1996 , Available at SSRN: https://ssrn.com/abstract=1862674

Joseph Lampel (Contact Author)

Alliance Manchester Business School ( email )

Harold Hankins Building
room 9.21
London, Choose a State M15 6PB
United Kingdom
0161-820-8344 (Phone)

HOME PAGE: http://www.manchester.ac.uk/research/joseph.lampel/furtherinformation

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
327
PlumX Metrics