Efficiency and effectiveness between open and closed innovation: empirical evidence in South Korean manufacturers

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This study addresses two main questions. First, what is the best measurement of innovation performance? Second, is there a significant difference in the performance between open and closed innovation firms? We discuss new measures ('efficiency' and 'effectiveness') and investigate any differences between open innovation and closed innovation firms by using indicators. The impact of open innovation on firm performance has been examined in existing studies. Most papers, however, employ simple indicators such as patents and financial data. This paper verifies the relationship between open innovation and performance in the Korean manufacturing industry using a new approach. The results show that both efficiency and effectiveness were statistically higher among open innovation firms than among their closed counterparts. It may thus be concluded that the acquisition of outside technology or knowledge has a positive impact on firm performance.
Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
Issue Date
2012
Language
English
Article Type
Article
Keywords

KNOWLEDGE SOURCES; EXPERT JUDGMENTS; PERFORMANCE; INDUSTRY; NETWORKS; FIRMS; DETERMINANTS; COOPERATION; ALLIANCES; NOVELTY

Citation

TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, v.24, no.10, pp.967 - 980

ISSN
0953-7325
DOI
10.1080/09537325.2012.724164
URI
http://hdl.handle.net/10203/103073
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