Quantity or quality: The roles of technology and science convergence on firm innovation performance

While firms in science-based sectors have multiple convergence opportunities, few empirical studies have explored how technology and science convergence can improve innovation performance. This study offered a novel approach by distinguishing between novel technology convergence (NTC) and reinforced technology convergence (RTC), investigated their different effects on firm innovation quantity and quality, and examined the moderating role of science convergence. We analyzed data on published papers, patents, and other panel data of firms in China's organic chemical industry between 1998 and 2015. The results show that (a) NTC and RTC positively affect firm innovation quantity, but NTC's effect is weaker than that of RTC; (b) NTC positively affects firm innovation quality, whereas RTC negatively affects it; (c) NTC's positive effect on firm innovation quantity is strengthened by science convergence, whereas RTC's positive effect on firm innovation quantity is weakened by it; and (d) NTC's positive effect on firm innovation quality is strengthened by science convergence, while RTC's negative effect on firm innovation quality is weakened by it. By shedding light on these relationships, this study contributes to the literature on technology convergence and recombinant innovation theory, and offers valuable management implications, particularly in terms of selecting appropriate convergence strategies for different innovation orientations.