Abstract
The technological resources is considered to be the most significant of all internal resources in high-tech field. It is called “technology stock.” Our research project corresponds to radical innovation in the semiconductor field in Japan. And the firm developed R&D through internal resource accumulation independently before commercialization. This study clarifies that investing hastily for commercialization cannot cover insufficiencies of technology stock. And a considerable initial investment was necessary to accumulate enough technology stock. Therefore a radical innovation project practiced by internal resource accumulation over a long period of R&D was not reasonable from the view point of investment efficiency.
