 Crisis-induced innovation and crisis-induced innovatorsLasse Lien and Bram Timmermans Industry and Innovation, 2024, vol. 31, issue 2, 183-217 Abstract: The literature on the persistence of innovation focuses on whether firms reduce, increase, or maintain their innovation activity over time, and in particular through cyclical downturns and crisis periods. What this literature tends to underemphasise is that innovation is also a tool firms can actively use to manage the unforeseen circumstances that arise in times of crisis. We argue and find that this kind of crisis-induced innovation displays patterns that are both similar to, and different from, the innovation behaviours found in more stable periods. More firms turn to innovation, but with important differences in intensity and expected long-run returns. Pre-crisis experience in innovation and organisational agility are key characteristics leading to higher levels of innovation in response to a crisis, higher likelihood of increasing the resources allocated to innovation during a crisis, and higher expected post-crisis value from the innovations undertaken in response to a crisis. Date: 2024 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:indinn:v:31:y:2024:i:2:p:183-217 Ordering information: This journal article can be ordered from DOI: 10.1080/13662716.2023.2228739 Access Statistics for this article Industry and Innovation is currently edited by Associate Professor Mark Lorenzen More articles in Industry and Innovation from Taylor & Francis Journals |
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