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Modelling the innovation value chain
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Roper, Stephen, Du, Jun and Love, James H. (2008) Modelling the innovation value chain. Research Policy, Volume 37 (Numbers 6-7). pp. 961-977. doi:10.1016/j.respol.2008.04.005 ISSN 0048-7333.
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Official URL: http://dx.doi.org/10.1016/j.respol.2008.04.005
Abstract
Innovation events - the introduction of new products or processes - represent the end of a process of knowledge sourcing and transformation. They also represent the beginning of a process of exploitation which may result in an improvement in the performance of the innovating business. This recursive process of knowledge sourcing, transformation and exploitation comprises the innovation value chain. Modelling the innovation value chain for a large group of manufacturing firms in Ireland and Northern Ireland highlights the drivers of innovation, productivity and firm growth. In terms of knowledge sourcing, we find strong complementarity between horizontal, forwards, backwards, public and internal knowledge sourcing activities. Each of these forms of knowledge sourcing also makes a positive contribution to innovation in both products and processes although public knowledge sources have only an indirect effect on innovation outputs. In the exploitation phase, innovation in both products and processes contribute positively to company growth, with product innovation having a short-term 'disruption' effect on labour productivity. Modelling the complete innovation value chain highlights the structure and complexity of the process of translating knowledge into business value and emphasises the role of skills, capital investment and firms' other resources in the value creation process. (C) 2008 Elsevier B.V. All rights reserved.
| Item Type: | Journal Article | ||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HD Industries. Land use. Labor |
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Centre for Small & Medium-Sized Enterprises Faculty of Social Sciences > Warwick Business School > Entrepreneurship, Innovation & Management Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Production (Economic theory) -- Mathematical models, Business logistics, Corporations -- Growth -- Ireland | ||||
| Journal or Publication Title: | Research Policy | ||||
| Publisher: | Elsevier BV | ||||
| ISSN: | 0048-7333 | ||||
| Official Date: | July 2008 | ||||
| Dates: |
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| Volume: | Volume 37 | ||||
| Number: | Numbers 6-7 | ||||
| Number of Pages: | 17 | ||||
| Page Range: | pp. 961-977 | ||||
| DOI: | 10.1016/j.respol.2008.04.005 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access | ||||
| Funder: | Economic and Social Research Council (Great Britain) (ESRC) | ||||
| Grant number: | RES-000-22-0729 (ESRC) |
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