How digital technologies drive firm performance: insights into smart and non-smart technologies in science and technology parks

This paper examines how different types of digital technologies affect firm performance in Science and Technology Parks (STPs). Drawing on the Resource-Based View and Dynamic Capabilities perspectives, we distinguish between smart and non-smart web technologies. Using data on firms located in Spanish STPs, we analyze the effects of digitalisation on sales revenue, productivity, profitability and market share. The results show that digitalisation is positively and significantly associated with sales revenue and productivity, while its effects on profitability and market share are weaker and less consistent. Contrary to our expectations, smart technologies do not outperform non-smart technologies. Instead, non-smart technologies display more consistent and robust effects, highlighting their foundational role in enabling digital value creation. We interpret these findings in light of the need for complementary organisational capabilities to unlock the benefits of advanced technologies and the ‘productivity paradox’, whereby technology-intensive firms often prioritise long-term innovation over short-term financial outcomes. The study contributes to research on technology and strategy by unpacking the performance implications of different digital technology portfolios within STPs and offers implications for policymakers and managers regarding the prioritisation of foundational tools and the alignment of digitalisation strategies with organisational capabilities.