Abstract: The studies related to the technology acquisitions of private enterprises are reviewed; and the influence of variables, such as R&D costs, uncertainty, distance, and lifecycle of technology, have on the acquisition approaches adopted is analyzed. An empirical analysis based on questionnaire data collected from 245 small and medium-sized private enterprises in China is conducted. The results indicate that when technology uncertainty is relatively high, or technology is in the intermediate stage of its lifecycle, enterprises tend to employ internal R&D. When R&D costs or uncertainty are relatively high, or technology distance is moderate, enterprises tend to pursue cooperative R&D. When technology R&D and uncertainty are relatively low and the technology distance is large, or the technology is in the late stage of its lifecycle, enterprises tend to have external purchase. In addition, there is a converse U-shape correlation between technology distance and cooperative R&D and between technology life cycle and internal R&D of enterprises.

Key words: technology acquisition, technology R&D cost, technology uncertainty, technology distance, technology life cycle