Date of Award
Daniels College of Business
Knowledge spillovers, Open innovation, Value capture
Despite the extensive research on open innovation, debate remains on the relationship between open innovation and firm performance. No consensus exists on the measures of performance and the mechanisms that enable value capture remain largely unexplored. This dissertation addresses these issues in two parts. First, a theoretical model based on knowledge flows is introduced. Knowledge is at the heart of open innovation and this dissertation examines the role that external and internal knowledge play in firm performance outcomes. It integrates the dynamic capability view and open innovation literature to build a framework and set of arguments on how knowledge is necessary to capture value.
Next, an empirical analysis is conducted using an unbalanced panel of 3002 firm-year observations in the U.S. stock market for the years 2017–2021. The analysis examines the mediating impact of knowledge, derived from externally acquired and internally developed intangible assets, on firm performance. Results of the mediation analysis show that external and internal knowledge partially mediates the effects of open innovation but require time to diffuse within an organization. This dissertation challenges previous arguments that knowledge from open innovation is free to all. Rather, it demonstrates that firms must participate for value capture from knowledge spillovers to occur.
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John T. Pritchard
Received from ProQuest
Pritchard, John T., "You Have to Play to Win: Value Capture in Open Innovation" (2023). Electronic Theses and Dissertations. 2349.