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Title
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Managing open innovation projects with science-based and market-based partners
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Author
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Abstract
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| 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. |
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Language
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English
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Source (journal)
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Research policy. - Amsterdam, 1971, currens
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Publication
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Amsterdam
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2014
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ISSN
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0048-7333
[print]
1873-7625
[online]
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DOI
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10.1016/J.RESPOL.2013.12.008
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Volume/pages
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43
:5
(2014)
, p. 828-840
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ISI
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000336468100003
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Full text (Publisher's DOI)
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