Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: We introduce a framework for analyzing renewal efforts of firms with distinct categories of innovation and adoption strategies, comprising a firm’s development off its internal knowledge, its access to local knowledge sources and its access to global knowledge sources. A fundamentall aspect is the formation and maintenance of the firm’s renewal capabilities. In this way the analysis provide an explanation of remaining heterogeneity among firms belonging to the same industry such that one group performs above average for long sequences of time, whereas others continue to pperform below average. The analysis applies Swedish data when presenting alternative approaches to provide empirical support in favour of the outlined model of how long-run firm performance associates with each firm’s sustained efforts to combine interal and external knowledge sources.

Keywords: Adoption; Innovation; Innovation outcome; Knowledge sources and networks; Combined internal and external knowledge

JEL-codes: F21; O30; O31; R11

38 pages, April 6, 2016

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