Abstract
This paper aims to explore the trends of open innovation in SMEs and to suggest the future research. Open innovation is to use inflow and outflow knowledge for expanding the market that is successful in large companies and multinational companies. In recent years, the studies of open innovation in SMEs are getting more attention. This review pursues the direction over almost 20 years based on Scopus database. European countries were examined to outstandingly publish articles the most, followed by Asian countries. 38 articles were selected for content analysis. Firstly, this study found open innovation collaboration with the government is a good choice for SMEs. Secondly, although using open innovation has a positive effect on financial performance, negative results can be found under some conditions. Lastly, absorptive capacity is one of the important factors to be realized for open innovation implementation. The higher capacity absorbs, the higher performance appears.
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