How Do Firms Source External Knowledge for Innovation? Analyzing Effects of Different Knowledge Sourcing Methods
AbstractIn the era of open innovation, external knowledge is a very important source for technology innovation. In this paper, we investigate the relationship between external knowledge and performance of technology innovation. The effect of external knowledge on the performance of technology innovation can vary with different external knowledge sourcing methods. We identify three ways of external knowledge sourcing: information transfer from informal network, R&D collaboration, and technology acquisition. We propose three hypotheses to examine relationship between the three methods of external knowledge sourcing and the technology innovation performance. Our results show that information transfer from informal network and technology acquisition have positive relationships with the technology innovation performance. R&D collaboration, however, has an inverted-U shape relationship with technology innovation performance. This implies that the effect of external knowledge on technology innovation varies depending on the particular external knowledge sourcing method. This research has important implication for firms in selecting appropriate strategy for accessing external knowledge.
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Bibliographic InfoPaper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200907.
Length: 22 pages
Date of creation: Aug 2009
Date of revision: Aug 2009
External knowledge; open innovation; knowledge sourcing method; technology innovation.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-14 (All new papers)
- NEP-CSE-2009-11-14 (Economics of Strategic Management)
- NEP-INO-2009-11-14 (Innovation)
- NEP-IPR-2009-11-14 (Intellectual Property Rights)
- NEP-KNM-2009-11-14 (Knowledge Management & Knowledge Economy)
- NEP-SBM-2009-11-14 (Small Business Management)
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