The Influence And Mechanism Of Two-way Open Innovation On New Product Market Performance

With the highly competitive in market,the traditional "closed innovation",which only depends on the internal resources of the enterprise,has been unable to adapt to the complex and changeable market demand and customer preference.More and more enterprises begin to cooperate with suppliers,customers,and even competitors,from"closed" to "open",to adopt the "open innovation",in order to achieve the success of new products in the market.In recent years,open innovation has become the focus of attention of entrepreneurs and scholars.However,the research on how the two-way open innovation affects the new product market performance has to be studied deeply.This study focuses on the impact of two-way open innovation on new product market performance and its mechanism.Based on the enterprise competence theory,this study constructs a theoretical model about two-way open innovation(inbound open innovation and outbound open innovation),innovation capability(innovation speed and innovation quality),environmental dynamism and new product market performance,and discusses the influence and mechanism of the two-way open innovation on new product market performance.Based on the survey data from 271 companies in China,this study uses Structural Equation Modeling to test the theoretical model.The direct effects of two-way open innovation on the new product market performance,the mediating role of innovation speed and innovation quality in the relationship,and the moderating effect of environmental dynamism,are tested.Results indicate that inbound open innovation has indirect effects on new product market performance through innovation speed and innovation quality.And outbound open innovation has not only direct effects on new product market performance,but also indirect effects on this through innovation speed.In addition,it is found that inbound open innovation has little more significant effects on new product market performance than outbound open innovation.The environmental dynamism can positively moderate the relationship between two-way open innovation and innovation capability.These conclusions have important theoretical and practical significance for enterprise innovation management.