Leveraging External Sources of Innovation: A Review of Research on Open Innovation

This paper reviews research on open innovation that considers how and why firms commercialize external sources of innovations. It examines both the “outside‐in” and “coupled” modes of open innovation. From an analysis of prior research on how firms leverage external sources of innovation, it suggests a four‐phase model in which a linear process—(1) obtaining, (2) integrating, and (3) commercializing external innovations—is combined with (4) interaction between the firm and its collaborators. This model is used to classify papers taken from the top 25 innovation journals, complemented by highly cited work beyond those journals. A review of 291 open innovation‐related publications from these sources shows that the majority of these articles indeed address elements of this inbound open innovation process model. Specifically, it finds that researchers have front‐loaded their examination of the leveraging process, with an emphasis on obtaining innovations from external sources. However, there is a relative dearth of research related to integrating and commercializing these innovations. Research on obtaining innovations includes searching, enabling, filtering, and acquiring—each category with its own specific set of mechanisms and conditions. Integrating innovations has been mostly studied from an absorptive capacity perspective, with less attention given to the impact of competencies and culture (including “not invented here”). Commercializing innovations puts the most emphasis on how external innovations create value rather than how firms capture value from those innovations. Finally, the interaction phase considers both feedback for the linear process and reciprocal innovation processes such as cocreation, network collaboration, and community innovation. This review and synthesis suggests several gaps in prior research. One is a tendency to ignore the importance of business models, despite their central role in distinguishing open innovation from earlier research on interorganizational collaboration in innovation. Another gap is a tendency in open innovation to use “innovation” in a way inconsistent with earlier definitions in innovation management. The paper concludes with recommendations for future research that include examining the end‐to‐end innovation commercialization process, and studying the moderators and limits of leveraging external sources of innovation.     

陈志超的旅行 得失寸心知

<正>陈志超,超哥。朋友介绍时,只说他走过很多地方,他的旅行与很多人不一样,可以聊聊,至于更多的细节就需要我们在沟通中寻找了。采访地点约在宽窄巷子里的一个书局内。我到的时候陈志超已经在书局后院里候着了。我们坐在院里的藤蔓架下,简单的寒暄后,就聊开了。陈志超给了我一张"大名片",装帧精美,是本诗歌、书法、国画、园林合集。前半部分是书法,中     

The Financial Costs of Caring in the British Labour Market: Is There a Wage Penalty for Workers in Caring Occupations?

Recent evidence from the USA suggests that people engaged in occupations involving providing care for others, such as childcare and teaching, suffer a wage penalty. After taking into account job and individual characteristics such as level of education and work experience, people in these occupations in the American study earned about 6 per cent less than their peers in other types of occupation. However, we do not yet know if people working in similar occupations in other countries also suffer the same degree of disadvantage. The issue is important because, despite the perception that people in caring jobs place a relatively low weight on the level of remuneration when making career decisions, a number of studies have shown clear evidence of an association between pay and the propensity to give up working in a caring occupation. There are implications too for social inequality as many caring jobs are done by women and associated wage penalties could contribute to the persistent gender gap in pay. This study compares and contrasts the predictions of neoclassical economics, cultural feminist theory and social closure theory. Data are taken from 17 waves of the British Household Panel Survey and include a total of 23,773 individuals, giving 110,677 person‐year observations. These data are analysed using multi‐level linear regression. The results show clear evidence of a statistically significant wage penalty associated with working in some caring occupations. Those occupations requiring lower levels of educational qualification, such as nursing assistants and auxiliaries, are particularly hard‐hit by the wage penalty. On the other hand, some occupations, such as medicine and teaching, have fared better than comparable non‐caring occupations over the same period. We discuss the implications of these results for the gender gap in pay, poverty, social inequality and the future supply of caring workers.     

Convertible Bonds and Stock Liquidity

This paper shows that the probability of exercise of convertible bonds issued against a firm’s stock directly affects the liquidity of the stock itself. Using the ratio of absolute stock return to its dollar volume as a proxy for stock liquidity I demonstrate that there is a direct and positive relationship between conversion probability and stock liquidity while controlling for firm size, book to market equity value and firm beta. I describe the effect of unlisted convertible debt on the liquidity of listed firms in the US, Korea and Singapore. The effects of conversion probability on stock liquidity are less pronounced for smaller firms, which helps explain time series variations in the liquidity premiums for smaller firms over time. The relationship between convertibles and stock liquidity is mainly attributed to the expected increase in the number of shares available for trade upon conversion and the expected change in the capital structure of the firm.     

不朽的红岩

一直以来,红岩精神都同井冈精神、长征精神、延安精神一样,被誉为中华民族近代的四大宝贵精神财富。即使到了现在,红岩精神依然是我们改革开放发展建设过程中不可缺少的精神导向。     

小南海地震遗址,美丽的代价

如今,已成为小南海国家地质公园的山水田园,不止是供人消遣的旅游胜地,更成为研究地震灾害的不可复制的宝贵自然实体,具有很高的科研科考价值。清晰如初的大垮岩、小垮岩滑塌面、乱石林立的地震崩积物、气势恢宏的地震湮塞大坝、风光秀丽的地震湮塞泊……正因为如此,小南海被批准为＂国家地质公园＂,列为＂国家级地震遗址保护区＂、＂全国防震减灾科普宣传教育基地＂。     

Estimating the impact of entertainment on the restaurant revenues of a Las Vegas hotel casino: An exploratory study

Considering the growing presence of non-gaming amenities in a mature casino market such as the Las Vegas Strip, this study examined the indirect contribution of showroom entertainment to casino-operated restaurant business volumes. Using the internal data of a Las Vegas hotel casino, this research found a statistically significant and positive relationship between daily showroom headcounts and food and beverage revenues. For each additional show attendee, daily food and beverage revenue increased $6.96. This finding suggests that casino executives should consider leveraging show traffic with additional revenue-enhancing venues such as restaurants.     

银杏的秋天

<正>温和的秋风,柔暖的光线,银杏的秋天犹如远方神秘贵妇的华丽裙摆随着秋风轻歌曼舞,毫无遮掩地向我们展示着那份古老的神秘和绚丽。处在城市喧嚣中的我们有太多的纷繁绕杂,所以一有时间,都希望去寻找一片宁静     

姥姥的西瓜酱

孔子说"食不厌精",还说"不得其酱不食",看来圣人的嘴头也够挑,不同的食物要搭配不同的酱才下箸。其实在古代酱与菜肴的结伴出席是"周礼"的一部分,规矩极多,官宴或祭祀的场合都是先上酱,继而搭配进食的菜肴,如此一道一道间杂呈上,赴宴的贵族通过看酱预知下道菜的名目,方使得不会失"礼"。到后来以至今日,礼崩乐坏的年代,自然是不讲究这些了,不过各乡制酱的风俗却源远流长下来。东北大酱,老北京甜面酱,郫县豆瓣酱,福建沙茶酱,苏州虾子酱,广东梅子酱,菌菇酱,牛肉酱,豉酱,阿香婆辣酱,西洋番茄酱......数起来恐怕是很难一气讲完的,我乡有一种西瓜酱,不知是否独美,至少我不曾在别处见过。     

鬼国京都 步步惊心

提起＂鬼城＂,无人不晓,这几乎成为烙刻在每一个中国人心目中的特定文化符号,而西方人则称这里是＂东方神曲之乡＂。这就是蜚声中外的丰都,自古以来的旅游名城。丰都原称酆都,周属巴国,曾建＂巴子别都＂,东汉和帝永元二年建县。