Open innovation in Korean SMEs: trends and financial performance

While open innovation has gained much attention, few studies have examined this perspective in the context of small and medium enterprises (SMEs). The motivation of this study is to fill this gap by examining SMEs' strategic approaches toward inbound open innovation and in-house R&D. Drawing on a sample of 3,175 SMEs in South Korea, we used cluster analysis to identify groups of SMEs pursuing homogenous innovation strategies. We also examined...