Open innovation in Korean SMEs: trends and financial performance

2019 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Taewan Kim ◽  
Byungku Lee ◽  
Byungheon Lee
Keyword(s):  
Financial Performance ◽  
Open Innovation

scholarly journals Effects of Emerging-Economy Firms’ Knowledge Acquisition from an Advanced International Joint Venture Partner on Their Financial Performance Based on the Open Innovation Perspective

2021 ◽  
Vol 7 (1) ◽  
pp. 67
Author(s):  
Choo Yeon Kim ◽  
Eun-Hwa Seo ◽  
Canisha Booranabanyat ◽  
Kwangsoo Kim
Keyword(s):  
Financial Performance ◽  
Knowledge Acquisition ◽  
Absorptive Capacity ◽  
Open Innovation ◽  
Joint Venture ◽  
Emerging Economy ◽  
Innovation Performance ◽  
Mediation Effect ◽  
International Joint Venture ◽  
International Joint

Although emerging-economy firms (E-E firms) must have a keen interest in improving their performance by utilizing knowledge transferred from their advanced international joint venture (IJV) partner, there has been little research on the performance implications of E-E firms’ knowledge transferred from their advanced IJV partner. So, drawing on open innovation and organizational learning perspectives, we examine whether, how, and when E-E firms’ knowledge acquisition from their IJV partner has a positive impact on their financial performance. Based on data collected from 127 Thai manufacturing firms with a local IJV partnered with an advanced overseas firm, our results reveal that E-E firms’ knowledge acquisition from their IJV partner has an overall positive influence on their financial performance in terms of growth and profitability. Our results further show that innovation performance mediates the relationship between E-E firms’ knowledge acquisition and their financial performance based on a moderated mediation analysis including innovation performance as a mediator and absorptive capacity as a moderator. It is also found that the positive mediation effect of innovation performance is more pronounced in the presence of higher absorptive capacity than otherwise. That is, our results show that even among E-E firms which have acquired much knowledge from their IJV partner, those with higher absorptive capacity achieve better innovation performance than those with lower absorptive capacity, and improved innovation performance subsequently contributes to producing superior financial performance. The key conclusions, implications, and limitations of our study are presented based on these findings.

scholarly journals Empirical analysis of inbound open innovation and SMEs performance: Evidence from oil and gas industry

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Yusuf O. Akinwale
Keyword(s):  
Financial Performance ◽  
Open Innovation ◽  
Measurement Errors ◽  
Structural Equation ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Petroleum Sector ◽  
External Actors ◽  
The Relationship

Background: This article contributes to existing literature by examining the relationship between inbound open innovation and firms’ financial performance in the Nigerian oil and gas industry. Aim: This article seeks to identify the factors of inbound open innovation and whether these factors influence the financial performance of small and medium-sized enterprises (SMEs) in the Nigerian oil and gas industry. Setting: This article examines 150 indigenous oil and gas SMEs in the upstream subsector of the Nigerian petroleum sector through a survey, using a questionnaire, conducted in 2015. Methods: The study applied the structural equation modelling (SEM) method. This method is used to test the relationships between the factors and to calculate the measurement errors in the hypotheses formulated. Results: The results show that technology scouting, vertical technology collaboration (VTC) and horizontal technology collaboration (HTC) positively and significantly contribute to inbound open innovation, which are thus significant in influencing the financial performance of SMEs. The size of technical staff and research and development (R&D) fund allocations also have a positive and significant correlation with the SMEs’ financial performance. Meanwhile, the age of SMEs is negative and not significant in influencing financial performance. Conclusion: The results suggest that inbound open innovation through scouting, HTC and VTC should therefore be encouraged among SMEs to boost their internal capabilities, which have hitherto enhanced their financial performance. The management members of each SME should continually consider collaboration with the external actors because they cannot singularly possess all the innovative skills required in the industry. Also, each firm should commit itself to allocate more funds to R&D and at the same time should hire those who have relevant production skills and train the existing ones in their firms.

scholarly journals Organizational Culture and Open Innovation Performance in Small and Medium-sized Enterprises (SMEs) in Poland

2016 ◽  
Vol 51 (1) ◽  
pp. 104-138 ◽  
Author(s):  
Jolanta Mazur ◽  
Piotr Zaborek
Keyword(s):  
Organizational Culture ◽  
Financial Performance ◽  
Open Innovation ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Knowledge Exchange ◽  
Positive Association ◽  
Positive Influence ◽  
Main Hypothesis ◽  
Innovative Culture

AbstractThis study investigates the links between organizational culture, the use of open innovation sources and the performance of SMEs. The main hypothesis of the study is that a special type of organizational culture (termed innovative culture), which fosters creativity, learning and inter-employee cooperation – will correspond with a greater scope of open innovation sources and higher levels of innovative, operational and financial performance. The study was based on a representative CATI survey of 473 SMEs operating in manufacturing and services industries in Poland. Our statistical analysis relied on building and testing structural equation model with the AMOS software. The findings confirmed a positive association between innovative culture and the scope of open sources of innovation. However, innovative culture had no direct effect on the percentage of sales from new and modified products, which is often used as a metric of innovativeness, but did show a positive influence on an index of operational performance and ROI. Such statistical patterns suggest that fostering innovative culture is beneficial to a company, though probably not through an increased number of product innovations, but rather via process, administrative and marketing innovations, as well as other gains in efficiency attained due to more streamlined employee cooperation and knowledge exchange. The study adds to the existing body of knowledge in management science by providing a better understanding of mechanisms underlying innovative culture’s impacts on open innovation practices and metrics of operational and financial performance in the context of small and medium enterprises.

Open innovation in Korean SMEs: trends and financial performance

2019 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Taewan Kim ◽  
Byungku Lee ◽  
Byungheon Lee
Keyword(s):  
Financial Performance ◽  
Open Innovation

The influence of open innovation activities on non-financial performance in the cultural tourism content industry

2020 ◽  
pp. 1-5 ◽  
Author(s):  
Sung Taek Lim ◽  
Michael W. Preis ◽  
Choong-Ki Lee ◽  
Vincent Mangematin ◽  
Myung Ja Kim
Keyword(s):  
Financial Performance ◽  
Open Innovation ◽  
Cultural Tourism ◽  
Innovation Activities

ARE WE HAPPY TOGETHER? A META-ANALYTIC REVIEW OF THE IMPACT OF OPEN INNOVATION ON FIRM PERFORMANCE

2021 ◽  
Author(s):  
STEPHEN ODURO ◽  
STREPPONE VINCENZO ◽  
CLAUDIANE SOLANGE NGWIKEM MANFO ◽  
KOT DAVID ADHAL NGUAR
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Open Innovation ◽  
Dynamic Capabilities ◽  
Meta Analysis ◽  
Culture Study ◽  
Study Region ◽  
Analytic Review ◽  
Managerial Implications ◽  
The Impact

The study draws on dynamic capabilities theory and evidence-based research to provide the first meta-analysis on the open innovation (OI)–firm performance relationship from 2003 to 2020. Both subgroup and meta-analytic regression analyses were employed to analyse 106 independent peer-reviewed articles, encompassing 557,642 firms and 138 effects. Results showed a positive, significant relationship between OI and overall firm performance ([Formula: see text]= 0.20) while revealing numerous contingencies. Particularly, we found that the effect of OI on non-financial performance ([Formula: see text]= 0.20) is larger than that on financial performance ([Formula: see text]= 0.19), while the disaggregate results revealed that inbound OI has the strongest effect on firm performance ([Formula: see text]= 0.23), followed by outbound OI ([Formula: see text]= 0.19) and coupled OI ([Formula: see text]= 0.14). Furthermore, it was found that the mixed results are driven by both contextual factors (i.e., firm size, culture, study region, sector, and industry intensity) and measurement moderators (i.e., study measure and data type). Both the theoretical and managerial implications of these findings are elucidatedly discussed.

THE EFFECT OF INBOUND, OUTBOUND AND COUPLED INNOVATION ON PERFORMANCE

2012 ◽  
Vol 16 (06) ◽  
pp. 1240008 ◽  
Author(s):  
ERICA MAZZOLA ◽  
MANFREDI BRUCCOLERI ◽  
GIOVANNI PERRONE
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Open Innovation ◽  
Financial Firms ◽  
Different Dimensions ◽  
Innovation Practices

The focus of this paper is on exploring linkages among Open Innovation practices and firm performance. While, in the last ten years, a certain amount of papers facing such issue has been published, most of them treat inbound, outbound, and coupled innovation practice processes separately respect to different dimensions of innovation and financial performance. We argue that the concurrent influence of specific Open Innovation practices on both innovation and economic-financial firms' performance has not been investigated so far into the literature and it is of primary managerial importance. We empirically test our framework on a sample of 105 companies listed on the Industrial Machinery and Component index of NASDAQ.

scholarly journals Factors Affecting Outbound Open Innovation Performance in Bio-Pharmaceutical Industry-Focus on Out-Licensing Deals

2021 ◽  
Vol 13 (8) ◽  
pp. 4122
Author(s):  
Eungdo Kim ◽  
InGyu Lee ◽  
Hongbum Kim ◽  
Kwangsoo Shin
Keyword(s):  
Pharmaceutical Industry ◽  
Financial Performance ◽  
Open Innovation ◽  
Development Process ◽  
Innovation Performance ◽  
Factors Affecting ◽  
Pharmaceutical Firms ◽  
Knowledge Based ◽  
Econometric Methodology ◽  
The Relationship

Due to the high risk in development process, the bio-pharmaceutical industry has transformed itself into an open innovation framework in order to overcome economic risk. This study examines the relationship between outbound open innovation and financial performance in bio-pharmaceutical industry. Specifically, this study extends knowledge-based view to link the open innovation performance and licensor’s sustainability. In order to provide empirical evidence, this study uses econometric methodology with several databases including bio-pharmaceutical firms. The analysis shows firm’s desorptive capabilities have a significant effect on financial performance, confirming the application of knowledge capacity framework. The result of the study can suggest the way how the licensors can maintain the sustainability of competitiveness in bio-pharmaceutical industry.

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