@article{michelino2016innovation,
  title = {Innovation Strategies in the Open Innovation Era: A Multi-Dimensional Approach Based On Patent Data and Accounting Metrics},
  author = {Francesca Michelino and Antonello Cammarano and Emilia Lamberti and Mauro Caputo},
  year = 2016,
  url = {https://ibimapublishing.com/articles/JOMS/2016/845315/},
  journal = {Journal of Organizational Management Studies},
  volume = (2016),
  pages = 11,
  doi = 10.5171/2016.845315,
  abstract = {The paper aims at defining innovation strategies, through the use of patent data, as the combination of five elements: patent applications, body of knowledge, patent scope, technological strategy and technological focalization/differentiation. Furthermore, the proclivity of companies to open up their innovation processes is evaluated through an accounting approach by examining all the costs, revenues, new investments and divestments of intangibles related to open transactions. Innovation strategies and open innovation adoption are then related each other and some context features and financial performances are also analyzed.The work is applied to a sample of 102 worldwide top R&D spending bio-pharmaceutical firms. Patent applications, body of knowledge and technological differentiation are positively correlated each other and exhibit a positive correlation with firm size, age and financial performances and a negative relation with open innovation adoption, in particular as to open innovation revenues.The paper contributes to the research on innovation by providing a comprehensive multi-dimensional framework for the definition of innovation strategies through the use of standardized data which are both easily available and objective.},
  keywords = {Innovation strategy; open innovation; exploitation; exploration; patent data; accounting data; bio-pharmaceutical.},
  note = Article ID: 845315
}