Title: Open innovation and firms performance: state of the art and empirical evidences from the bio-pharmaceutical industry

Authors: Erica Mazzola; Manfredi Bruccoleri; Giovanni Perrone

Addresses: Università degli Studi di Palermo, Viale delle Scienze, ED 8, 90128 – Palermo, Italy ' Università degli Studi di Palermo, Viale delle Scienze, ED 8, 90128 – Palermo, Italy ' Università degli Studi di Palermo, Viale delle Scienze, ED 8, 90128 – Palermo, Italy

Abstract: The research presented in this paper explores the effect of inbound, outbound and coupled open innovation practices on firms' performances in the biopharmaceutical industry. Specifically, although existing researches on open innovation effectiveness have separately investigated the effect of open innovation practices on innovation and financial performance, this study evaluates the concurrent effect of these practices on both such performance dimensions in a single framework. We state the importance for a manager to explore concurrently the influence of specific open innovation practices both on innovation and economic-financial performance. We empirically test our framework on a sample of 120 companies listed on the NASDAQ biotechnology index.

Keywords: inbound open innovation; outbound open innovation; coupled open innovation; innovation performance; economic performance; financial performance; biopharmaceutical industry; NASDAQ; firm performance.

DOI: 10.1504/IJTM.2016.075152

International Journal of Technology Management, 2016 Vol.70 No.2/3, pp.109 - 134

Accepted: 14 Nov 2014
Published online: 05 Mar 2016 *

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