Did the global financial crisis impact firms' innovation performance? The role of internal and external knowledge capabilities in high and low tech industries
Fecha
2018Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión aceptada / Onetsi den bertsioa
Impacto
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10.1016/j.techfore.2018.01.011
Resumen
This paper examines the role exerted by internal innovation efforts and external knowledge assets as dynamic capabilities to overcome adverse economic conditions. Additionally, we examine the differential impacts of the financial crisis in high and low-tech industries. Using panel data of manufacturing firms in Spain for the period 2006–2013, our results show that maintaining strong internal and ...
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This paper examines the role exerted by internal innovation efforts and external knowledge assets as dynamic capabilities to overcome adverse economic conditions. Additionally, we examine the differential impacts of the financial crisis in high and low-tech industries. Using panel data of manufacturing firms in Spain for the period 2006–2013, our results show that maintaining strong internal and external knowledge capabilities enables firms to mitigate the effects of the financial crisis. Findings emphasize the value of human capital, by enabling internal capabilities, as a coping mechanisms in low-tech sectors during the financial downturn. Similarly, open innovation allows firms to minimise the resources limitations and risk surrounding innovation, particularly during the financial crisis. This study provides valuable insights to managers aiming to develop strong internal knowledge bases to remain competitive under uncertain financial conditions. [--]
Materias
Financial crisis,
Innovation performance,
Internal capabilities,
R&D human capital,
External knowledge resources
Editor
Elsevier
Publicado en
Technological Forecasting and Social Change, 2018, 132, 92-104
Departamento
Universidad Pública de Navarra. Departamento de Gestión de Empresas /
Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
Versión del editor
Entidades Financiadoras
The authors gratefully acknowledge the funding received through the AGL2015-65897-C03-1_R research project co-financed by FEDER, and they would also like to express their gratitude for the financial support received from the Caja Navarra Foundation and the Institute for Advanced Research in Business and Economics (INARBE, Public University of Navarre, Spain) for the acquisition of the Postdoctoral Fellowship.