Open innovation and firm performance in small-sized R&D active companies in the chemical industry : the case of Belgium
This paper relates the practice of open innovation in small R&D active chemical companies to firm performance in terms of employment and financial position. This relationship is examined during a period of economic downturn and applied to the Belgian situation. The Belgian case is interestin...
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Dokumenttypen: | Artikel |
Medientypen: | Text |
Erscheinungsdatum: | 2012 |
Publikation in MIAMI: | 06.11.2012 |
Datum der letzten Änderung: | 17.03.2023 |
Quelle: | Journal of Business Chemistry, 9 (2012) 3, S. 117-131 |
Angaben zur Ausgabe: | [Electronic ed.] |
Fachgebiet (DDC): | 330: Wirtschaft |
Lizenz: | InC 1.0 |
Sprache: | English |
Anmerkungen: | Section "Research Paper" |
Format: | PDF-Dokument |
URN: | urn:nbn:de:hbz:6-48389463531 |
Permalink: | https://nbn-resolving.de/urn:nbn:de:hbz:6-48389463531 |
Onlinezugriff: | 2012_vol-9_iss3_117-131.pdf |
This paper relates the practice of open innovation in small R&D active chemical companies to firm performance in terms of employment and financial position. This relationship is examined during a period of economic downturn and applied to the Belgian situation. The Belgian case is interesting since it is characterised by a high economic importance of the chemical industry and a strongly developed national (eco-) innovation system in the sector. According to their different evolution over the last decade, a distinction is made between basic chemicals and pharmaceuticals. In terms of open innovation strategy, a distinction is made between companies innovating completely internally (closed innovators), firms engaged in R&D outsourcing, firms engaged in research cooperation, and firms integrating outsourcing and cooperation in their knowledge sourcing strategy. After controlling for a broad range of R&D characteristics, we found that firms engaged in outsourcing or having an integrated open innovation approach performed better in terms of the evolution of employment during the period 2005-2010. Also, the analysis revealed firms having a formal R&D manager and a long-term research vision more often combine average to strong employment growth with a prosperous financial position.