Can open innovation improve technological outcomes for digital transformation?: Structural approach to strategic decisions of Korean ICT SMEs

Hyuk Chung and Kyunam Kim

Managerial and Decision Economics, 2023, vol. 44, issue 8, 4404-4421

Abstract: In digital transformation, the importance of information and communications technology small‐ and medium‐sized enterprises (ICT SMEs) is growing, but their potential and strategic behaviors responding to digital transformation were not fully understood. We empirically analyzed Korean ICT SMEs' strategic decisions for developing and commercializing digital transformation technologies through a structural model of competencies, R&D strategies, and technological commercialization. We found that open innovation and internal R&D are significant mediators between their competencies and technological commercialization. Sectoral discrepancy is also identified: R&D employment and open innovation positively influence on technological commercialization in ICT service, while patenting and internal R&D are significant for ICT manufacturing.

Date: 2023
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https://doi.org/10.1002/mde.3958

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:44:y:2023:i:8:p:4404-4421

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