ترجمه مقاله نقش ضروری ارتباطات 6G با چشم انداز صنعت 4.0
- مبلغ: ۸۶,۰۰۰ تومان
ترجمه مقاله پایداری توسعه شهری، تعدیل ساختار صنعتی و کارایی کاربری زمین
- مبلغ: ۹۱,۰۰۰ تومان
ABSTRACT
This paper studies how human capital can affect the relationship between open innovation and the financial performance of firms. The results demonstrate that there is an inversed U-shape relationship between open innovation and firm profitability. We also indicate how human capital (both quality and structure) will differently moderate above relationship: generally, higher the education level of employees will amplify the positive effect of open innovation, but for production-oriented firms, such argument does not hold; in technology-oriented firms, as the ratio of technical staff to production staff increases, the financial performance of firms improves as a result of the implementation of an open innovation strategy. However, in production-oriented firms, the moderating role is negative.
Conclusion and discussion
This paper studies how human capital can affect the relationship between open innovation and the financial performance of firms. The analysis used the cost of purchasing external patent and non-patent technology as the operating variables measuring open innovation, which is explorative in the emerging area of open innovation study. A panel data analysis was then conducted using data from China’s manufacturing industry over the course of eleven years. First, the results demonstrate that there is an inversed U-shape relationship between open innovation and firm profitability, indicating the existence of a threshold for the effectiveness of open innovation strategy. Once investment in open innovation exceeds the threshold, firm financial performance will deteriorate. Prior researches have extensively investigated the value creation process of openness, i.e. the relationship between open innovation and innovation performance. This paper focus on the value capture process of open innovation, indicated by the financial performance. It is a complementary and further-step research to the extensively studied relationship between openness and innovative performance.