Specialized search and innovation performance: evidence across Europe
Searching for external knowledge has frequently been characterized as crucial for firm success. However, little is known about how the direction of search strategies influences innovation performance. In this paper, we argue that firms need to specialize their search strategy and that its effectiveness is moderated by R&D investments and potential knowledge spillovers from a firm's environment. Based on a sample of more than 5,000 firms from five European countries, our results show that being open for innovation generally pays off. However, both moderating factors have a crucial role to play: On the one hand, in-house R&D investments are most effective when combined with a market-oriented search strategy. On the other hand, a technologically advanced environment requires firms to reach out to scientific knowledge sources in order to access novel knowledge and to enhance innovation performance. We develop targeted management recommendations based on these results.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: L 7,1; D - 68161 Mannheim|
Web page: http://www.zew.de/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Albert N. Link & Donald S. Siegel & Barry Bozeman, 2006.
"An Empirical Analysis of the Propensity of Academics to Engage in Informal University Technology Transfer,"
Rensselaer Working Papers in Economics
0610, Rensselaer Polytechnic Institute, Department of Economics.
- Albert N. Link & Donald S. Siegel & Barry Bozeman, 2007. "An empirical analysis of the propensity of academics to engage in informal university technology transfer ," Industrial and Corporate Change, Oxford University Press, vol. 16(4), pages 641-655, August.
- Zvi Griliches, 1979.
"Issues in Assessing the Contribution of Research and Development to Productivity Growth,"
Bell Journal of Economics,
The RAND Corporation, vol. 10(1), pages 92-116, Spring.
- Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 17-45 National Bureau of Economic Research, Inc.
- Schartinger, Doris & Rammer, Christian & Fischer, Manfred M. & Frohlich, Josef, 2002. "Knowledge interactions between universities and industry in Austria: sectoral patterns and determinants," Research Policy, Elsevier, vol. 31(3), pages 303-328, March.
- Sendhil Mullainathan & Marianne Bertrand, 2001. "Do People Mean What They Say? Implications for Subjective Survey Data," American Economic Review, American Economic Association, vol. 91(2), pages 67-72, May.
- Teece, David J., 1993.
"Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy,"
Elsevier, vol. 22(2), pages 112-113, April.
- Teece, David J., 1986. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 15(6), pages 285-305, December.
- Zahra, Shaker A., 1993. "Environment, corporate entrepreneurship, and financial performance: A taxonomic approach," Journal of Business Venturing, Elsevier, vol. 8(4), pages 319-340, July.
- Nicholas Bloom & John Van Reenen, 2002. "Patents, Real Options and Firm Performance," Economic Journal, Royal Economic Society, vol. 112(478), pages C97-C116, March.
- Criscuolo, Chiara & Haskel, Jonathan E. & Slaughter, Matthew J., 2010.
"Global engagement and the innovation activities of firms,"
International Journal of Industrial Organization,
Elsevier, vol. 28(2), pages 191-202, March.
- Chiara Criscuolo & Jonathan E. Haskel & Matthew J. Slaughter, 2005. "Global Engagement and the Innovation Activities of Firms," NBER Working Papers 11479, National Bureau of Economic Research, Inc.
- Grimpe, Christoph & Sofka, Wolfgang, 2009. "Search patterns and absorptive capacity: Low- and high-technology sectors in European countries," Research Policy, Elsevier, vol. 38(3), pages 495-506, April.
- M. Ishaq Nadiri, 1993. "Innovations and Technological Spillovers," NBER Working Papers 4423, National Bureau of Economic Research, Inc.
- Wesley M. Cohen & Daniel A. Levinthal, 1994. "Fortune Favors the Prepared Firm," Management Science, INFORMS, vol. 40(2), pages 227-251, February.
- Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December.
- Zahra, Shaker A. & Covin, Jeffrey G., 1995. "Contextual influences on the corporate entrepreneurship-performance relationship: A longitudinal analysis," Journal of Business Venturing, Elsevier, vol. 10(1), pages 43-58, January.
- Kaiser, Ulrich, 2002. "An empirical test of models explaining research expenditures and research cooperation: evidence for the German service sector," International Journal of Industrial Organization, Elsevier, vol. 20(6), pages 747-774, June.
- Nancy T. Gallini, 2002. "The Economics of Patents: Lessons from Recent U.S. Patent Reform," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 131-154, Spring.
- Liebeskind, Julia Porter, 1997. "Keeping Organizational Secrets: Protective Institutional Mechanisms and Their Costs," Industrial and Corporate Change, Oxford University Press, vol. 6(3), pages 623-63, September.
- Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
- Nadiri, M.I., 1993. "Innovations and Technological Spillovers," Working Papers 93-31, C.V. Starr Center for Applied Economics, New York University.
When requesting a correction, please mention this item's handle: RePEc:zbw:zewdip:09016. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.