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The effect of open innovation activities during unstable economic conditions on subsequent product innovation performance: an analysis of German SMEs
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During the past decades, the business environment experienced vast changes and unstable
economic conditions. The recent economic crisis had a pervasive influence on companies’
viability and inhibited them in their innovation efforts. As a matter of fact, SMEs that
typically possess fewer resources are even more constrained and affected during recessions.
Much literature highlighted the strategic importance of Open Innovation practices for
innovation performance. Specifically, technological co-operation is assumed to be one of the
most effective Open Innovation activity that brings in external resources and thus influences
product innovation performance. Nonetheless, even though some literature examined what
types of companies are able to maintain or increase innovative efforts during recessions, few
studies investigated in how far economic recessions change the willingness of companies to
open up their innovation practices and the effect of R&D co-operation on subsequent product
innovation performance. This research study investigates if open innovation activities are a
possible strategy for SMEs to weather economic recessions and positively impact subsequent
product innovation performance. Consequently, is gradually opening up innovation activities
and participating in R&D co-operation during crisis beneficial? Having analyzed data of
German SMEs, the study confirms that a higher degree of openness, compared to a closed
innovation system during crisis positively affects radical and incremental innovation
performance. Furthermore, R&D co-operation is more likely to affect only incremental
performance. However, only vertical co-operation is found to be significant, whereas
engaging with multiple different co-operation partners even deteriorates innovation
performance.
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Open innovation Economic crisis R&D co-operation Product innovation performance German SMEs