Paper Type
Short
Paper Number
1755
Description
This study leverages patent mining techniques alongside Gartner's insights on emerging technologies to first identify patents within a corporation that are of commercial value. Subsequent analysis of patent citations illuminates the knowledge flow within and between organizations, thereby delineating their open innovation strategies. The investigation extends to assess the influence of various knowledge flows on organizational financial performance. Findings from this study reveal that, irrespective of whether a company operates under closed or open innovation paradigms, backward citation data from patents emerge as a potent predictor of an organization's finances. Notably, in the realm of open innovation, external backward citations stand out as the most critical predictive factor. This underscores the strategic importance of engaging in open innovation practices, where the acknowledgment of a company's contributions by external entities through citations significantly correlates with improved financial performance, highlighting the profound impact of external collaborations and knowledge exchange on organizational success.
Recommended Citation
Chen, Deng-Neng and Yang, Tsai-Ju, "Evaluating the Impact of Open Innovation Strategies on Organizational Financial Performance through Patent Mining" (2024). PACIS 2024 Proceedings. 4.
https://aisel.aisnet.org/pacis2024/track03_ba/track03_ba/4
Evaluating the Impact of Open Innovation Strategies on Organizational Financial Performance through Patent Mining
This study leverages patent mining techniques alongside Gartner's insights on emerging technologies to first identify patents within a corporation that are of commercial value. Subsequent analysis of patent citations illuminates the knowledge flow within and between organizations, thereby delineating their open innovation strategies. The investigation extends to assess the influence of various knowledge flows on organizational financial performance. Findings from this study reveal that, irrespective of whether a company operates under closed or open innovation paradigms, backward citation data from patents emerge as a potent predictor of an organization's finances. Notably, in the realm of open innovation, external backward citations stand out as the most critical predictive factor. This underscores the strategic importance of engaging in open innovation practices, where the acknowledgment of a company's contributions by external entities through citations significantly correlates with improved financial performance, highlighting the profound impact of external collaborations and knowledge exchange on organizational success.
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