J. Open Innov. Technol. Mark. Complex., Volume 7, Issue 4 (December 2021) – 41 articles

The purpose of this study is to empirically confirm the importance of learning orientation in the operation of start-up companies. In the literature, it is well known that this learning orientation plays a big role in improving the performance of start-ups by cultivating organizational members’ capabilities in detail, encouraging active learning, and creating new knowledge. To this end, a business model innovation framework for start-ups was established by empirically validating the theoretical research model. For the analysis, 139 questionnaires from start-ups with less than 7 years of business history in the incubation center were used. For the novelty of this work, it investigates the causal relationship between the learning orientation of start-ups, business model innovation, and start-up performance (technology acquisition and market expansion). Our research has contributed to the literature on entrepreneurship, innovation and strategy as follows. First, it contributed to the literature on entrepreneurship by redefining the performance of start-up companies as technology acquisition and market expansion through a review of previous studies and providing insight into the importance of learning orientation for start-ups through empirical studies. Second, it contributed to the innovation literature by confirming the importance of business model innovation for start-ups to achieve start-up performance through empirical research. Third, it contributed to the strategic literature by presenting and empirically confirming business model innovation through learning-orientation improvement as a way to achieve the performance of start-up companies. Full article

This study aims to present integrative evaluation techniques that can assess spatial comfort reflecting the unique value of a vernacular building type in Korea called Hanok. For this purpose, current evaluation indices and methods of official standards for normal building performance were analyzed through previous studies, since any certified tools for Hanok evaluation do not exist. This situation has made relevant markets to be deactivated, although Hanok has valuable meanings as the traditional architecture to be succeeded to the next generation in Korea. Accordingly, specific assessment indices were derived to evaluate the Hanok sustainability especially focused on spatial comfort by using a qualitative field surveys with combined quantitative references. Then, actual resident data were collected from a series of Hanok testbeds for specific time-points including summer and winter solstices on the lunar-year system. As a result, resident data could be employed to reveal the characteristics of comfort performance from those target specimens, and show the tendency of the Hanok comfort by suggested innovative criteria for the market as a clue for its commercial potentials. Accordingly, it was concluded that the proposed techniques and indices could be certified for the Hanok evaluation and applied to the field of associated industries to show its specific values and advantages. Full article

This study aims to examine how unrelated diversification facilitate firm’s growth and innovation. To achieve this goal, we investigate how Maeil Dairies has diversified through open innovation as the Korean dairy market struggles to maintain its size. Maeil Dairies, one of the top three conglomerates in the Korean dairy industry, has gone through different forms of diversification both related and unrelated to its core competencies. This study presents what the overlapping competencies are in its diversified products and businesses, analyzes the effectiveness of diversification in terms of relatedness, and examines the need for unrelated diversification. By analyzing the four diversification categories of the Maeil Dairies case and applying diversification theory, this study shows that although related diversification is more recommendable in most circumstances, unrelated diversification may present new opportunities and is necessary in order to avoid stagnation and falling behind. Full article

In this paper, we propose a set of rules for developing modular architectures. We first consider the well-known concept of “Design Rules” advanced by Baldwin and Clark. We then propose a broader conceptualization called “Modularity Design Rules” that is derived from later studies of the strategic, managerial, and organizational processes that must also be undertaken to implement successful modular development projects. We elaborate the critical role that the proposed Modularity Design Rules play in strategically grounding, organizing, and managing modular architecture development processes. We also identify key roles that top management must fulfill in supporting implementation of the proposed rules. We then provide evidence in support of the proposed Modularity Design Rules through a case study of the Renault–Nissan Alliance’s successful development and use of a modular “Common Module Family” architecture between 2009 and 2014. We then suggest some important implications of the Modularity Design Rules for open innovation processes in new product development. Full article

Studies examining the impact of COVID-19 using network dynamics are scant and tend to evaluate a specific local stock market. We present a thorough investigation of 58 world stock market networks using a complex network approach spanning across the uncertain times that have resulted from the coronavirus outbreak. First, we use the daily closing prices of the world stock market indices to construct dynamic complex networks and sixteen minimum spanning tree (MST) maps for the period from December 2019 to March 2021. Second, we present the topological evolution properties of time-varying MSTs by applying normalized tree length, diameter, average path length, and centrality measures. Moreover, the empirical results suggest that (1) the highest correlation among the world stock markets is observed during the first wave of the COVID-19 pandemic in the months of February–March 2020; (2) most of the MSTs appear lower in hierarchy, and many chain-like structures are formed due to the sheer impact of pandemic-related crises; (3) Germany remained a hub node in many of the MSTs; and (4) the tree severely contracted during the first wave of the COVID-19 outbreak (during the months of February and March 2020) and expanded slightly afterwards. Moreover, the results obtained from this study can be used for the development of financial stability policies and stock market regulations worldwide. Full article

The results of the development of a modified quality function deployment (QFD) method, obtained for the first time to improve the product quality planning process in the metal cutting of laser technologies confirming the dynamics of open innovation, are presented. When using new marketing technologies, the requirements of consumers are established; a factorial model of customer satisfaction was determined with after an assessment by expert methods, their wishes were transformed into indicators of product quality, and its concept was developed. Product quality is enhanced by optimizing project specifications. The method of functional cost analysis (FCA) was applied for the manufacturing processes, which made it possible to reduce the costs of their implementation. New methods of product quality control were applied. The developed planning process is described by a sequence diagram, an algorithm, and a responsibility matrix. The research used search methods including Internet resources required for open innovation, namely functional modeling methods (IDEF) and the method of advanced product quality planning (APQP). The results of the achieved advantages of open innovation (reduction in research and development costs, implementation of the principles of total quality management (TQM), customer orientation, process approach, improvement) are recommended for further application both at the enterprise and in the metalworking of mechanical engineering. The practical significance of the results of this work is the reduction in internal and external failures by 12%; reduction in time for new product development by 9%; reduction in costs for online resources by 11% and quality control during production by 7%; reduction in labor costs for process management by 25%; and the stability of the process, which improved by 25%. Full article

Recently, the two decacorn Startups in Indonesia decided to collaborate with a merger scheme and accumulate over 100 million monthly active users. The Merger triggers a new perception for customers and has an impact on the level of Brand Loyalty. However, no research examines how customer perception to mergers between the startup with decacorn status. Therefore, this study intends to fill this gap. Using the mix method approach, this study investigates how customer perception of startups’ mergers decacorn status and examines its effect on customer behavior. The findings revealed that customer self-congruency successfully mediates the research gap between customer perceptions on merger scheme (sig. 0.000 < 0.05, β = 0.575) and purchase intention (sig. 0.000 < 0.005, β = 0.390) by combining impulse buying strategies (sig. 0.003 < 0.05, β = 0.329). The paper contributes theoretically to the body of knowledge in the customer’s perception of the merging company. The study also gives new insight that customers’ perception of the Merger of two decacorn companies cannot guarantee that customers will be loyal to the company without connecting the customer self-congruency in each partner. It is recommended that the manager gain stimulus in building conformity of company image with customer perceptions that create self-congruency. Full article

The right to the city concept is widely debated in academic discourse yet ambiguously executed in public discourse. In much of the discussion, the right to the city is advocated as a right that humans should claim—i.e., participating in urban space living. Nonetheless, constraints and limits are imposed on such advocacy, resulting in a tokenized implementation state. With such a background surmounting the COVID-19 pandemic era, this study is aimed at understanding the right to the city propagation and revealing the possible wrongs of such civic advocacy. Multiple cases in Malaysia were selected for analysis and as the discussion context representing the state-of-the-art aspect of right to the city in the context of an emerging country. Two potential misconceptions through the action of right to the city were identified: first, the concept of right to the city has the potential to infringe the centrality of power, which both citizens and the authority have to make clear; second, the lack of a sign of contribution from citizens poses a severe challenge to build a co-created urban space for all. This paper contributes to removing a blind spot—the possible wrong to the right to the city—and provides ideas to achieve authentic citizen participation. Full article

The medical device industry is uniquely characterized by both resourceful global companies and innovative catching-up companies. The studies by Chatterji have analyzed how large and established medical device companies could better utilize the ideas from innovative groups such as physicians. While the existing literature on the topic of open innovation is enriched, there are few studies on the partnership between larger global medical device companies and smaller catching-up medical device companies. This study focuses on a structured partnership with global medical device companies. To understand how such a deal could be better arranged, this study adopted the Analytic Hierarchy Process (hereafter, AHP) analysis to derive the success factors of such partnership with a focus on the case of the Korean medical device industry. This survey interviewed 30 experienced professionals who currently work for global medical device companies. The study results found that global medical device companies prefer a licensing deal along with broader territories. In terms of the preferred requirements for a partnership deal, the study revealed that there is strong emphasis on factors such as Quality and Intellectual Property (hereafter, IP) protection. This study has practical managerial implications for catching-up medical device companies which drive an open innovation practice with a view to accelerating their growth trajectory in the global market. Full article

This article analyses three recent shifts in what called the geography of ‘Big Things’, meaning the contemporary functions and adaptability of modern city centre architecture. We periodise the three styles conventionally into the fashionable ‘Starchitecture’ of the 1990s, the repurposed ‘Agritecture’ of the 2000s and the parodising ‘Parkitecture’ of the 2010s. Starchitecture was the form of new architecture coinciding with the rise of neo-liberalism in its brief era of global urban competitiveness prevalent in the 1990s. After the Great Financial Crash of 2007–2008, the market for high-rise emblems of iconic, thrusting, skyscrapers and giant downtown and suburban shopping malls waned and online shopping and working from home destroyed the main rental values of the CBD. In some illustrious cases, ‘Agritecture’ caused re-purposed office blocks and other CBD accompaniments to be re-purposed as settings for high-rise urban farming, especially aquaponics and hydroponic horticulture. Now, COVID-19 has further undermined traditional CBD property markets, causing some administrations to decide to bulldoze their ‘deadmalls’ and replace them with urban prairie landscapes, inviting the designation ‘Parkitecture’ for the bucolic results. This paper presents an account of these transitions with reference to questions raised by urban cultural scholars such as Jane M. Jacobs and Jean Gottmann to figure out answers in time and space to questions their work poses. Full article

The article describes an innovative metrizable idea for systemic assessments of product quality within the baking industry. Complex product quality analysis requires the employment of metrizability criteria for factors that impact the quality of the product, and these are called determinants. Therefore, such analysis is only possible with the use of systems engineering. A system represents the potential of a manufacturing process, of major impact on quality. Composites of the manufacturing process make up the determinants of bread quality, grouped into three sets: raw materials, manufacturing technology, and manufacturing organization and technique. This paper also contains methodological implications for the construction of algorithms for manufacturing process potential determinants. Metrizable product quality assessment is a very important issue in the context of its implementation in manufacturing companies. Its use allows for obtaining comprehensive data on the quality status of a product. It is an important tool for analyzing and forecasting modern quality trends. The method presented in the article is new, innovative, and practical; and its vector representation may prove useful in Quality 4.0. The method could be an important point of reference for managers, directors, and decision makers who must determine the best metrizability criteria for systemic product quality assessments, and could prove useful in Industry 4.0 in the bakery industry. The main value of the paper is the presentation of a new, extensive method for systemic assessments of product quality based on vector analysis in industrial organization. We trialed the method in the baking industry. We concluded that the method is a contribution to management science, especially in the field of quality management, because this approach is not used in business and is not described in relevant international literature. Full article

Small and medium enterprises are paying the lion’s share in the innovation-based economy of today’s competitive business environment. To this effect, this study observed the effects of corporate entrepreneurship (CE) dimensions on the performance of SMEs in the town of Holeta, Ethiopia. We used both descriptive and survey research designs to meet the specified target of the study. The researchers employed both primary and secondary data sources; the former were collected from 173 participants using both primary and secondary data. The result of this study indicates that all of the explanatory variables used were statistically significant and had a positive relationship with the performance of SMEs. Thus, we recommend that owners of small and medium enterprises pay special attention to practicing CE to increase their business performance, sustainability, and competitiveness. Entrepreneurs should also come up with new and attractive product and service features to take high market shares. Furthermore, forecasting potential challenges for firms and devising possible ways of solving the situation in advance can safeguard businesses from failure. Full article

The aim of the present study is to provide an analysis of the literature about methods for assessing the impact of coaching on the performance of a company, and elaborate a framework of assessment methods emphasizing their use in the course of coaching interaction. The paper also explores the relationship between open innovation and coaching and proposes the themes for further research. The Scopus and Web of Science databases were selected for the review of the research papers in the business subject area. The review was guided by the following research questions: What methods are used for assessing the impact of coaching? How are these methods used in the course of the coaching interaction? How does coaching interrelate with open innovation? The findings suggest that the assessment of the impact of coaching on the individual’s behavior and performance of a company is considered from different perspectives. The methods differ based on the needs for the assessment whether the process evaluation or the outcome evaluation is required. The analysis of the literature proves that the relationship between coaching and open innovation is mutually advantageous. Full article

This study presents a bibliometric analysis of research on technology in the humanitarian supply chain. The methodology includes performance analysis and science mapping to explore the application of technologies in humanitarian supply chains. This paper contributes to the literature by examining the most influential authors, trends, journals, countries, institutions, and the recent humanitarian supply chain collaboration. The information presented in this research was obtained with the Scopus database. The study identified 342 documents after applying filters to screen for duplicates and manuscripts unrelated to the topic. The articles were analyzed using MS Excel and VOSviewer. The research provides an overview of state of the art showing a high collaboration between the authors Ramesh A. and Kabra C, and the most relevant institutions were the Griffith Business School and the Delft University of Technology. Journal of Humanitarian Logistics and Supply Chain Management and Journal of Disaster Research were the most productive journals. The terms analysis shows that “disasters”, “disaster prevention”, “humanitarian logistics”, and “human” are the most used keywords. The study identifies future research lines related to the interaction between critical technologies to deliver real benefits to the humanitarian supply chain. As a result, it proposes integrating the significant contributions of new technologies, such as blockchain, big data, artificial intelligence, 3D printing, virtual and augmented reality, and the social media relief phase following the disaster. It also indicates gaps in knowledge in terms of research related to human-made disasters and health emergencies. Full article

It is important for companies to be able to make their business models dynamic. This enables them to adapt to changing circumstances and remain viable. The aim of this paper is to combine insights from the literature on business models and business model dynamics into a comprehensive dynamic business model framework. The framework that is developed in this paper takes into account various origins of changes in business models (internal or external to the company) and various types of changes in business models (primary or secondary changes and forced changes or strategic choices) and also includes the issue of business model consistency. In order to combine different origins and different types of business model change into one dynamic business model framework, some simplifications of reality were needed. The framework is described in text and shown in a comprehensive picture. The application of the framework to two cases of renewable energy companies in Indonesia shows that the framework is able to capture business model dynamics in a simplified and comprehensive way and that it allows for case study comparison. In a thorough discussion, it is shown how the framework can be adapted to make it better able to represent more complex dynamics. Full article

The global spread and use of the internet and mobile phones has contributed to the development of digital payments. Despite its growth potential, until now there is a lack of research providing a comprehensive synthesis and analysis of factors affecting the use, adoption, and acceptance of digital payment methods. This study aims to address this gap by providing a comprehensive review of the related literature retrieved from Scopus and Web of Science databases. Following a systematic method, a final sample of 193 research articles was identified and analysed. The results highlight that a single theory has failed to comprehensively explain the complex nature of electronic payment adoption. The key limitation of the existing theories is their inability to consider the role of social and cultural facets in the adoption of new technology. While literature reviews are a widespread practice in business studies, there are scant reviews that use the systematic review methodology that aggregates knowledge using clearly defined processes and criteria. This is the first systematic review on electronic payment adoption, which structures the existing knowledge and provides directions for future research. Full article

Innovation environments are places where open innovation and technology are boosted. The purpose of this paper is to present the evolution of innovation and technology environments through the most covered topics in the scientific literature. In this sense, technology transfer has been the subject of research since 1975; however, in the period from 2006–2021, the focus shifted to innovation. It was possible to observe an exponential growth of the term, “innovation”, but it is no longer the central theme and is linked to different terms related to different ways of innovating, characterizing open innovation variables. In this article, 4650 academic studies involving innovation environments were reviewed. The analysis identified the nomenclatures that characterized innovation environments and the particularities of these environments. The contributions, such as which countries developed more research in this area, and the analysis of which environments were more common in these countries were also presented. Additionally, some methodological and theoretical gaps in the current research were identified, providing pathways to support future research and practices seeking a better understanding and development of innovation environments. This article can also serve as a basis for a consultation for members of the quadruple helix, who wish to install or create environments for innovation and attract companies or investments to develop any open innovation activity. Full article

Based on the resource dependence theory and the resource-based view, this study examined the impact of the resources and capabilities of government-funded research institutes (GRIs) on technology transfer. Panel analysis was performed on 21 GRIs in South Korea representing three mission types—basic future leading, public infrastructure, and industrialization—for the 2015–2019 period. The analysis confirmed that the factors affecting technology transfer performance differed among GRIs depending on their mission type. For basic future leading GRIs, the number of technology transfer cases was strongly associated with the number of research personnel, while there was a negative relationship between technology transfer and the total budget, the number of research publications, and the number of patent registrations. None of the variables affected the revenue from technology fees. Researchers at these GRIs appear to have a strong motivation for technology transfer, but the priority for resource allocation at the institutional level is the production of papers and patents rather than technology transfer. For public infrastructure GRIs, the number of patents held and the number of technology licensing office (TLO) personnel had a positive impact on the number of technology transfer cases, while none of the variables affected the revenue from technology fees. Thus, the number of patents is more favorable for technology transfer at this type of GRI compared to those that pursue a mission of basic future leading, possibly because their research focus is more related to engineering than to basic science. For industrialization GRIs, the number of TLO personnel affected the number of cases of technology transfer, and the number of patent registrations and TLO personnel affected the revenue from technology fees. The speed of technology development and industrial application is thus much faster in industrialization GRIs than in the other GRI types. The results of this analysis show that mission attributes are important drivers of technology transfer performance. This study thus offers policy implications by illustrating those different resources should be provided to different types of GRI to optimize their technology transfer performance. Full article

Electronic learning (E-learning) is an innovative learning tool that provides an opportunity for technology-driven distance teaching. E-learning not only enhances learning quality, but it has also become the only medium of learning during the COVID-19 pandemic, when people have been forced to stay at home. Due to the pandemic, most countries have initiated online learning to continue the learning process, thus lessening the study gap. Against this backdrop, it is imperative to explore the perception and satisfaction level of e-learners regarding e-learning tools. In this study, a quantitative approach was conducted on the students of two leading public universities (graduates and postgraduates) to identify the impact of the determinants of the SERVQUAL model (reliability, responsiveness, assurance, empathy, and website design), as well as ‘learning content’, on overall perceived quality and satisfaction. In total, 895 respondents participated in the study, and data were analyzed with Amos 23 to confirm the hypotheses, utilizing structural equation modeling. The findings reveal that all the variables of the measurement model had a significant effect on perceived service quality and thus user satisfaction except for responsibility. The results make a significant contribution to those decision-makers and university authorities attempting to ensure e-learners’ satisfaction. Full article

Due to the growing academic interest in social innovation, there is a need for a comprehensive bibliometric analysis of the structure and evolution of this research field. So far, there have been very few in-depth studies in this area. In addition, the number of publications in this domain grows dynamically year by year. For this reason, it was assumed that the existing research needs expansion and updating. Therefore, this study presents a comprehensive bibliometric analysis aiming to identify research patterns and trends in the scientific literature on social innovation. Descriptive and performance analyses as well as research field mapping based on network analyses were performed. The most productive authors, sources, academic organizations, and countries in the social innovation literature were indicated. Moreover, the most influential authors and publications in the analyzed research field were determined. Furthermore, the evolution of social innovation research and the scientific collaboration in this area were shown and characterized. The analysis results were intended to show academics and practitioners an up-to-date, comprehensive picture of the multidisciplinary and multifaceted phenomenon of the research on social innovation. Full article

Global customer consciousness for more sustainable products and government requirements for a more sustainable industry have motivated cosmetics small and medium industries (SMIs) to innovate the strategy by integrating sustainability principles into their manufacturing processes. However, the dynamic complexity of balancing sustainability efforts, stakeholders’ interests, and uncertainty in material pricing require a conceptual reference model to help managers and decision-makers cope with the transition process. This work therefore proposes a model-based strategy using system dynamics to assist managers and stakeholders in SMIs to clarify their possible pathways and to offer a framework to understand, guide, and generate future strategies. In multiactor, multistakeholder conditions, the proposed methodology can provide insights into how stakeholders can effectively intervene to improve sustainability through open innovation dynamics models. The case study presented here on a personal care cosmetics company demonstrates several leverage points and obstacles, thereby allowing each stakeholder to understand their strategic role in realizing sustainable cosmetics SMIs. Full article

COVID-19 has changed the way we live, communicate and work, as well as altering our feelings. The higher education sector, alongside other sectors, has been severely affected by the pandemic and its serious repercussions. Academic and teaching staff have had to work from home and convert to online teaching, a change which has been met with both negative and positive feelings. The need for new competencies and upskilling, among other challenges, has been encountered. Therefore, the objectives of this study are aligned with exploring the impact of three constructs—self-efficacy, positive feelings and negative feelings—on the performance of academic and teaching staff at public and private universities in Bahrain during the COVID-19 lockdown. Additionally, the impact of self-efficacy on these feelings was explored. A cross-sectional quantitative survey instrument was developed, validated and distributed using 83 valid responses. A two-way approach was followed to evaluate the model using the partial least squares (PLS-SEM) and multi-layer perceptron-artificial neural network (MLP-ANN) techniques. Tests support the validity, reliability and consistency of the measurement scale, as well as the validity of the postulated model. The results revealed a statistically significant relationship between the three constructs and performance. Interestingly, attention is drawn to the impact of self-efficacy on increasing positive feelings and task performance. The impact of self-efficacy on reducing negative feelings is also evident. Analyses of PLS-SEM augmented by MLP-ANN enhanced our understanding of the relationships and gave more support to the use of dual approach analyses in future research. This research adds to COVID-19 global research and the findings increase the knowledge within the literature. The implications of the study’s outcomes should be given attention from higher education authorities and management to raise staff morale and offer training to help sustain performance and mental wellbeing. Lasty, limitations and future directions are discussed. Full article

The hospitality industry exerts significant pressure on the environment through the consumption of resources such as energy and water. However, the industry can also enhance environmental preservation through their operation and strategy. This study examined whether environmental orientation (internal and external) and green competitive advantage are significantly positively related. This study also investigated the indirect effect of green innovation. A quantitative research method was used for this study. The cross-sectional survey method was used as the method of data collection. This study used Partial Least Square Structural Equation modelling to test the hypotheses. The findings showed that environmental orientation and green competitive advantage are significantly positively related. The indirect effect of green innovation is significant. Theoretically, the study developed a model that linked green innovation to environmental orientation. Practically, the study suggests some recommendations on how the managers of hospitality firms can improve environmental orientation. These include the provision of training and development workshops on environmental strategy for management and employees. Full article

Open innovation diffusion is of great significance to industrial transformation and upgrading, forming an open innovation ecosystem based on the patent publication. However, patent applicants contribute much knowledge to the public domain, and the communication channel, which is network proximity, does not receive much attention. This study aimed to explore the key driving factors of open innovation diffusion by constructing a theoretical framework that includes four proximity dimensions in the context of a global industrial chain. By taking artificial intelligence for healthcare as an example, this study applied the quadratic assignment procedure model to conduct an empirical analysis with a sample containing 62 patent applicants. The empirical result verified that the key drivers are from the proximity dimensions and the interactions. Technological proximity plays the leading role in innovation diffusion, while organizational and temporal proximities play secondary roles. In addition, the significant moderating effects suggest that the proximity dimensions interact in innovation activities. Moreover, the proximity framework provides an overview of innovation management and policy implication. Full article

Due to SARS-CoV-2 pandemic, higher education institutions are challenged to continue providing quality teaching, consulting, and research production through virtual education environments. In this context, a large volume of data is being generated, and technologies such as big data analytics are needed to create opportunities for open innovation by obtaining valuable knowledge. The purpose of this paper is to investigate the factors that influence the adoption of big data analytics and evaluate the relationship it has with performance and knowledge management, taking into consideration that this technology is in its initial stages and that previous research has provided varied results depending on the sector in focus. To address these challenges, a theoretical framework is developed to empirically test the relationship of these variables; 265 members of universities in Latin America were surveyed, and structural equation modeling is used. The findings identify compatibility, an adequate organizational data environment, and external support as factors required to adopt big data analytics, and their positive relationship is tested with knowledge management processes and organizational performance. This study provides practical guidance for decision-makers involved in or in charge of defining the implementation strategy of big data analytics in higher education institutions. Full article

Innovation is widely considered one of the most important drivers for firm growth in the contemporary economy. However, the ‘elusive’ as well as heterogeneous nature of innovation has generated a lively debate among scholars with regards to the best metrics to capture its features and effects. Often, this has led to a reliance on R&D and/or patent-related measures. We contribute to this debate by pushing forward the idea that a positive effect of investing in intangibles like patents can’t be taken for granted, since it is significantly influenced by the way a firm’s portfolio of patents is created, assembled, and renewed over time. Starting from a sample of 6677 observations derived from a sample of listed European companies with patents and intangibles booked in their financial statements, this study sheds a new light on how a company creates, composes, and renews over time their portfolio of intangibles, with specific attention on patents. In particular, this contribution discusses the different effects that emerge by making a distinction among different forms of patents, considering two dimensions: broadening vs. deepening investments, and application-specific vs. general purpose investments. We notice that as a company increases investments in intangibles and simultaneously enlarges the breadth of their range of activities, its growth becomes particularly remarkable. Full article

Digital companies must improve their business models evolutionarily and innovatively. Therefore, IT investment, especially for revitalizing digital capabilities for operational changes, is important. Most companies are looking to source innovation from outside organizations. Partnership assessment is a crucial problem since it is not easy to integrate internal and external capabilities. The study aims to define business model innovation based on system dynamics with partnership scenarios. Open innovation is needed to evolve to meet market expansion. Partnership and IP strategies are discussed. System Dynamics modeling is utilized to map a system structure to capture its behavior and the relationships between elements, creating a simulation over time. The study develops a BMI to show how OI variables significantly contribute to the engine of growth for digital companies. The simulation reveals that OI has a significant effect on the company’s performance, indicated by significantly growing revenue after two years. At the early stage, patenting IP is not practical since the companies involved are unclear about the detailed IP. The IP success or the partner failure rate does not affect revenue significantly. After two years, companies sharing IP find the best way to benefit from it and lead to sustainable growth. Full article

This paper presents the results of the study on the venture capital (VC) market development drivers in small countries with underdeveloped VC markets. Based on the literature content analysis, the authors developed a comprehensive list of factors influencing VC market status. The relevance of the factors in countries with small, underdeveloped VC markets was studied between experts involved in shaping Latvian VC market. The study revealed that all factors (in total 73) delivered from the literature influence the VC market in the countries such as Latvia. Sixty-three factors have an impact above moderate, and providing public funding for VC funds is only one of the factors. The results highlight the importance of the shift from the typical public support approach of providing VC managers with funding to the government involvement in also shaping other conditions necessary for VC market self-sufficiency development. Based on the study, the authors propose a conceptual model for further public support design. The model has three dimensions of meta factor groups (VC market participants, environment, embedded characteristics). It is necessary to evaluate and, if possible, provide public support in each of the meta-factors’ groups. The authors propose to use the model and the list of impactful factors as tools for further governmental support for VC. Full article

Social changes, technological evolutions, globalization and even the achievement of sustainable development objectives require the adoption of new business models, in which innovations are considered a cornerstone of achieving and maintaining a competitive and a social advantage. This descriptive and quantitative study discusses the results obtained after implementing an open innovation program to promote access to internships for university students with disabilities, in which three multi-national companies have participated. We used the Job Typicalness, Quality of Work Life and Employment Maturity Interview Questionnaires to collect information. The results show that the jobs performed by disabled participants are similar to those of other workers. This job typicality positively influences their perception of quality of life and job satisfaction. The open innovation process has focused on collaboration to provide accessibility and equity to the procedures of human resources departments for access to employment, that is, external collaboration has been used to offer an equal-opportunity hiring process. The information obtained allows us to conclude that companies need to increase their training and/or knowledge in the fields of diversity and inclusion to eliminate the barriers of access to employment found in hiring processes. This study reveals the importance of this type of open innovation among companies and organizations, not only for establishing diversity-sensitive human resources policies, but also for promoting the talent attraction with equal opportunities and an inclusive labour market. Full article

The current economic trend worldwide is for an industrial economy based on tangible assets to convert into a non-tangible economy based on intellectual capital. Lately, a multidimensional view of intellectual capital and its implications on innovation performance have generated renewed research interests. Based on these facts, the relationship amongst different antecedent factors such as culture and trust on intellectual capital components was analysed. In addition, a correlation among intellectual capital components (as non-tangible assets) and innovation performance for the banking sector was established. The positivism philosophy, deductive approach and quantitative methods were used as the research methodology to accomplish the research objectives. In this process, a questionnaire survey and purposive sampling technique were used to collect the responses from 364 employees of the Iraqi commercial banks. The obtained data were analysed statistically using the SPSS v25 and AMOS v24 software. The results revealed a significant impact of culture and trust (antecedent factors) on various intellectual capital components. Furthermore, a strong connection between these antecedent factors and intellectual capital components was evidenced, confirming the study hypotheses. Interestingly, intellectual capital components were found to enhance significantly the innovation performance of the banks, leading to better competitive advantages. In addition, it provided evidence on the impacts of inter-relationships amongst human, structural and relational capitals. Consequently, the study provides academicians and practitioners valuable insights into and guidance on how developing intellectual capital enhances competitive performance, especially in the context of Iraqi commercial banks. Full article