Details

Autor(en) / Beteiligte

• Du, Jingshu
• Leten, Bart
• Vanhaverbeke, Wim

Titel

Managing open innovation projects with science-based and market-based partners

Ist Teil von

• Research policy, 2014-06, Vol.43 (5), p.828-840

Ort / Verlag

Amsterdam: Elsevier B.V

Erscheinungsjahr

2014

Link zum Volltext

Quelle

Elsevier ScienceDirect Journals Complete

Beschreibungen/Notizen

• •We examine the relationship between open innovation partnerships and the financial performance of R&D projects.•Project management formality moderates the relationship between open innovation partnerships and project performance.•R&D projects with science-based partners are associated with better financial performance when they are managed loosely.•R&D projects with market-based partners are associated with better financial performance when they are managed formally. This paper examines the relationship between (outside-in) open innovation and the financial performance of R&D projects, drawing on a unique dataset that contains information on the open innovation practices, management and performance of 489 R&D projects of a large European multinational firm. We introduce two types of open innovation partnerships – science-based and market-based partnerships – and examine their relationships with project financial performance. In addition, we investigate whether the open innovation—project performance relationships are influenced by the way how R&D projects are managed. Our results show that R&D projects with open innovation partnerships are associated with a better financial performance providing that they are managed in the most suitable way. Market-based partnerships are positively correlated with project performance if a formal project management process is used; however these partnerships are associated with a lower performance for loosely managed projects. In contrast, science-based partnerships are associated with higher project revenues for loosely managed projects only.