Abstract
In recent years, the innovation paradigm has changed from a closed to open strategy. Open innovation is currently considered as one of the hottest topics in business and management research. Although the understanding of the current innovation paradigm has improved in the last decade, a number of unexplored questions still remain. Therefore, the current study aims to investigate the relationships among closed and open innovation strategies, R&D performance, and firm performance in South Korean manufacturing industry. This study attempted to determine the types of innovation strategies that contribute to R&D and firm performance. Using a structural equation modelling method with the data of 837 firms in South Korea, it was found that closed innovation strategy is stronger than open innovation strategy, and the effects of open innovation strategy on R&D and firm performance are marginal in the manufacturing industry. Furthermore, multidimensional relationships were identified in the integrated model. Both implications and limitations are presented.
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