Explaining the adoption of process technologies in Spanish manufacturing firms

Resumen

This paper investigates the factors affecting the multiple adoption of new process technologies in manufacturing. We focus our attention on the effect of both financial resources and absorptive capacity as conditioners of the decision to introduce the technology. We argue in favour of a negative effect of financial constraints and provide reasons for a differential effect of internal and external R&D on innovation adoption. Additionally, the methodology allows us to consider the possible complementarities arising when firms adopt several new process technologies. Our results show that financial constraints are dependent on the technology analysed, whereas only internal R&D investments are strong predictors of adoption. We are also able to present evidence that the three technologies analysed (CNC, CAD and robotics) are, to some extent, complementary.