Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study
Open innovation has an important impact on the innovative activity and competitiveness of SMEs. Moreover, it is a topic of interest for academics and practitioners. This study analyzes, in the context of SMEs, how absorptive capacity can favor incoming and outgoing open innovation practices, the med...
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| Format: | Article |
| Language: | English |
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Elsevier
2023-06-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853123001671 |
| _version_ | 1827584915461373952 |
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| author | Omar Carrasco-Carvajal Domingo García-Pérez-de-Lema Mauricio Castillo-Vergara |
| author_facet | Omar Carrasco-Carvajal Domingo García-Pérez-de-Lema Mauricio Castillo-Vergara |
| author_sort | Omar Carrasco-Carvajal |
| collection | DOAJ |
| description | Open innovation has an important impact on the innovative activity and competitiveness of SMEs. Moreover, it is a topic of interest for academics and practitioners. This study analyzes, in the context of SMEs, how absorptive capacity can favor incoming and outgoing open innovation practices, the mediating role that innovation strategy plays in this relationship, and the effect of open innovation practices on performance. Partial least squares (PLS-SEM) and empirical data obtained from interviews with 194 managers of Chilean manufacturing SMEs with between 10 and 250 employees were used. The results obtained make a relevant contribution to the literature in two aspects: (1) absorptive capacity has a significant and positive influence on firms' strategies and outbound innovation practices and (2) firm strategies play a complete mediating role between absorptive capacity and inbound open innovation practices and a complementary mediating role between absorptive capacity and outbound open innovation practices. Additionally, the results show that open innvoation improves SME performance. These results have important theoretical and practical implications for both policy makers and SME managers. |
| first_indexed | 2024-03-08T23:39:05Z |
| format | Article |
| id | doaj.art-d18bceba88ea4b4bb1d5ba4e596df209 |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-03-08T23:39:05Z |
| publishDate | 2023-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-d18bceba88ea4b4bb1d5ba4e596df2092023-12-14T05:22:18ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312023-06-0192100065Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case studyOmar Carrasco-Carvajal0Domingo García-Pérez-de-Lema1Mauricio Castillo-Vergara2School of Engineering of the Faculty of Engineering and Architecture of the Universidad Central de Chile, Santiago, Chile; Corresponding author.Accounting and Finance Department, Universidad Politécnica de Cartagena, Director Office of Entrepreneurs and Creation of Technology-Based Companies, Murcia, SpainFaculty of Economy and Business, Universidad Alberto Hurtado, Santiago, ChileOpen innovation has an important impact on the innovative activity and competitiveness of SMEs. Moreover, it is a topic of interest for academics and practitioners. This study analyzes, in the context of SMEs, how absorptive capacity can favor incoming and outgoing open innovation practices, the mediating role that innovation strategy plays in this relationship, and the effect of open innovation practices on performance. Partial least squares (PLS-SEM) and empirical data obtained from interviews with 194 managers of Chilean manufacturing SMEs with between 10 and 250 employees were used. The results obtained make a relevant contribution to the literature in two aspects: (1) absorptive capacity has a significant and positive influence on firms' strategies and outbound innovation practices and (2) firm strategies play a complete mediating role between absorptive capacity and inbound open innovation practices and a complementary mediating role between absorptive capacity and outbound open innovation practices. Additionally, the results show that open innvoation improves SME performance. These results have important theoretical and practical implications for both policy makers and SME managers.http://www.sciencedirect.com/science/article/pii/S2199853123001671Open innovationAbsorptive capacitySMEPerformanceStrategy |
| spellingShingle | Omar Carrasco-Carvajal Domingo García-Pérez-de-Lema Mauricio Castillo-Vergara Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study Journal of Open Innovation: Technology, Market and Complexity Open innovation Absorptive capacity SME Performance Strategy |
| title | Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study |
| title_full | Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study |
| title_fullStr | Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study |
| title_full_unstemmed | Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study |
| title_short | Impact of innovation strategy, absorptive capacity, and open innovation on SME performance: A Chilean case study |
| title_sort | impact of innovation strategy absorptive capacity and open innovation on sme performance a chilean case study |
| topic | Open innovation Absorptive capacity SME Performance Strategy |
| url | http://www.sciencedirect.com/science/article/pii/S2199853123001671 |
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