Factors Affecting Outbound Open Innovation Performance in Bio-Pharmaceutical Industry-Focus on Out-Licensing Deals

Eungdo Kim, InGyu Lee, Hongbum Kim and Kwangsoo Shin
Additional contact information
Eungdo Kim: Graduate School of Biomedical Convergence, College of Medicine, Chungbuk National University, 1 Chungdae-ro, Seowon-gu, Cheongju 28644, Chung-cheongbuk-do, Korea
InGyu Lee: Graduate School of Biomedical Convergence, College of Medicine, Chungbuk National University, 1 Chungdae-ro, Seowon-gu, Cheongju 28644, Chung-cheongbuk-do, Korea
Hongbum Kim: Korea National Industrial Convergence Center, Korea Institute of Industrial Technology, 143 Hanggaul-ro, Sangnok-gu, Ansan-si 15588, Gyeonggi-do, Korea
Kwangsoo Shin: Graduate School of Biomedical Convergence, College of Medicine, Chungbuk National University, 1 Chungdae-ro, Seowon-gu, Cheongju 28644, Chung-cheongbuk-do, Korea

Sustainability, 2021, vol. 13, issue 8, 1-17

Abstract: Due to the high risk in development process, the bio-pharmaceutical industry has transformed itself into an open innovation framework in order to overcome economic risk. This study examines the relationship between outbound open innovation and financial performance in bio-pharmaceutical industry. Specifically, this study extends knowledge-based view to link the open innovation performance and licensor’s sustainability. In order to provide empirical evidence, this study uses econometric methodology with several databases including bio-pharmaceutical firms. The analysis shows firm’s desorptive capabilities have a significant effect on financial performance, confirming the application of knowledge capacity framework. The result of the study can suggest the way how the licensors can maintain the sustainability of competitiveness in bio-pharmaceutical industry.

Keywords: outbound open innovation; knowledge-based view (KBV); bio-pharmaceutical industry; out-licensing (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/8/4122/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/8/4122/ (text/html)

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:gam:jsusta:v:13:y:2021:i:8:p:4122-:d:531754

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().