Enhancing Firm Performance Through Adoption of Innovation: an Empirical Evidence from Indian Biotechnological Firms

Aishwarya Narayan () and Sumukh Hungund ()
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Aishwarya Narayan: RMIT University
Sumukh Hungund: Manipal Institute of Technology, Manipal Academy of Higher Education

Journal of the Knowledge Economy, 2022, vol. 13, issue 3, No 29, 2456 pages

Abstract: Abstract This paper explores the influence of innovation approaches on innovation performance and firm performance among Indian biotechnology firms. Further, it aims to discuss the interceding role of innovation performance between innovation practices and firm performance. A criteria-based snowball sampling method was adopted for data collection. The collection of data was carried out using a web survey from 200 biotechnology firms located across India. The data is analysed using a covariance-based structural equation modelling (SEM) technique. The results indicate that the adoption of innovation practices positively influences the firms’ innovation and overall performance. Furthermore, the results confirm the mediating role of innovation performance between innovation approach adoption and firm performance. Firms, particularly from the biotechnology industry, can use these results to assess their performance and formulate or modify their strategy to improve their innovation and overall performance.

Keywords: Open innovation approach; Closed innovation approach; Innovation practices; Firm performance; Innovation performance; Biotechnology firms (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s13132-021-00821-x

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