Financial effects of open innovation in the manufacturing industry

Purpose – The purpose of this paper is to investigate the long-term financial effects of open innovation in the manufacturing industry. Design/methodology/approach – Drawing upon an open innovation literature, this study examined 671 open innovation announcements made by firms listed on the New York Stock Exchange and National Association of Securities Dealers Automated Quotations during 2003-2012. By employing the event study, the long-term...