Exploration, exploitation and innovation performance: disentangling the evolution of industry

Bernal, P. (Universidad de Zaragoza) ; Maicas, J.P. (Universidad de Zaragoza) ; Vargas, P.

Resumen: The evolution of industry has recently attracted the attention of scholars studying the relationships between exploration and exploitation strategies and innovation performance. Surprisingly, although extant research has already acknowledged its multidimensional character, it has only been analyzed in an aggregate fashion. In this paper, we distinguish two components of the evolution of industry, the pace of market evolution and the pace of technology evolution, and we elaborate on their different impacts in the context of exploration and exploitation strategies. More precisely, we argue that while a rapid pace of technology evolution has opposite impacts on the relationships between exploration (positive), exploitation (negative) and innovation performance, a rapid pace of market evolution positively affects both exploration and exploitation. Our findings provide substantial support for our prediction using a large panel of Spanish innovating firms for the period 2008–2012.

Idioma: Inglés

DOI: 10.1080/13662716.2018.1465813

Año: 2018

Publicado en: INDUSTRY AND INNOVATION 26, 3 (2018), 295 - 320
ISSN: 1366-2716

Factor impacto JCR: 3.157 (2018)

Categ. JCR: ECONOMICS rank: 46 / 363 = 0.127 (2018) - Q1 - T1
Categ. JCR: MANAGEMENT rank: 63 / 217 = 0.29 (2018) - Q2 - T1

Factor impacto SCIMAGO: 1.613 - Management of Technology and Innovation (Q1) - Business, Management and Accounting (miscellaneous) (Q1)

Financiación: info:eu-repo/grantAgreement/ES/DGA-FEDER/S09
Financiación: info:eu-repo/grantAgreement/ES/DGA/Generes Research Group
Financiación: info:eu-repo/grantAgreement/ES/MINECO-FEDER/ECO2014-53904-R

Tipo y forma: Artículo (PostPrint)

Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)