EconPapers    
Economics at your fingertips  
 

Did the global financial crisis impact firms' innovation performance? The role of internal and external knowledge capabilities in high and low tech industries

Ferdaous Zouaghi, Mercedes Sánchez and Marian García Martínez

Technological Forecasting and Social Change, 2018, vol. 132, issue C, 92-104

Abstract: This paper examines the role exerted by internal innovation efforts and external knowledge assets as dynamic capabilities to overcome adverse economic conditions. Additionally, we examine the differential impacts of the financial crisis in high and low-tech industries. Using panel data of manufacturing firms in Spain for the period 2006–2013, our results show that maintaining strong internal and external knowledge capabilities enables firms to mitigate the effects of the financial crisis. Findings emphasize the value of human capital, by enabling internal capabilities, as a coping mechanisms in low-tech sectors during the financial downturn. Similarly, open innovation allows firms to minimise the resources limitations and risk surrounding innovation, particularly during the financial crisis. This study provides valuable insights to managers aiming to develop strong internal knowledge bases to remain competitive under uncertain financial conditions.

Keywords: Financial crisis; Innovation performance; Internal capabilities; R&D human capital; External knowledge resources (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162518300726
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:132:y:2018:i:c:p:92-104

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2018-09-22
Handle: RePEc:eee:tefoso:v:132:y:2018:i:c:p:92-104