Risk factors and its roles in new technology commercialization: Empirical study based on socio-technical system theory

Risk management has positive effect on the growth of new technology commercialization project. However, risk factors, risk structure and their roles in new technology commercialization are little considered in existing research. This paper employs socio-technical systems theory to analyze the effect of social system risk, technical system risk, and management risk on performance of new technology commercialization. Then, structural equation model is utilized to conduct empirical study. The results suggest: 1) Social system risk has a significantly positive effect on technical system risk. 2) The higher technical system risk, the higher management risk of projects. 3) Social system risk has a positive effect on project management risk, but not significantly. 4) The higher management risk of new technology commercialization projects, the lower process performance of project growth. 5) Process performance has a significantly positive effect on product performance.