Bridging micro–macro dynamics in nanotechnology commercialisation: How governance and absorptive capacity shape innovation performance

Despite the transformative promise of nanotechnology, its commercialisation across Europe remains constrained by a persistent gap between micro-level organisational dynamics and macro-level contextual influences. This study integrates the resource-based view (RBV) with a dynamic capabilities perspective to examine how internal governance structures and absorptive capacity interact with regional policies and geographical proximity to shape innovation performance in collaborative R&D partnerships. Using a mixed-methods design across 12 European countries, we combine panel data from 250 nanotechnology firms (sourced from Orbis and World Bank databases) with 30 in-depth interviews and 97 survey responses. Fixed-effects regression models reveal that decentralised governance structures foster intellectual property generation and enhance long-term profitability. Furthermore, absorptive capacity amplifies these effects under supportive regional policy environments. Dense value networks, however, can inhibit new product development due to coordination overload – an effect mitigated by geographical proximity. These findings refine the RBV by highlighting the contingent nature of internal–external synergies in volatile, high-technology sectors. The study provides actionable insights for R&D managers and EU policymakers seeking to align governance flexibility and absorptive capacity with the evolving goals of Horizon Europe.