Resumo

Open innovation characteristics highlight that individuals do not innovate in isolation, as the innovation process requires multiple information and knowledge. Those requirements have stakeholders as valuable sources, emphasizing the significance of analyzing the interactions and interface between the relevant stakeholders as a valuable object of study. However, there are few studies that investigate the integration of stakeholders in the open innovation process, an issue that can be better understood through the lens of Stakeholder Theory.

Hence, the research question proposed is: What is the relationship between the different stakeholders’ relationships and O.I.? In order to shed light on this question, this study aims to analyze the relationship between different stakeholders’ relationships and O.I. The specific objectives are: (i) analyze the relationship between stakeholders’ relationships based on positive reciprocity and O.I.; (ii) analyze the relationship between stakeholders’ relationships based on justice and O.I.; (iii) analyze the relationship between stakeholders’ relationships based on temporal consistency and O.I.

Open innovation favors multiple interactions between stakeholders and the organization, having as a key point the collaboration between them (Chesbrough, 2012). Building collaborative relationships with stakeholders reward the organization with access to critical resources (Barney, 2018), allowing the exploration of new ways to co-create value (Griffin, 2016; Harrison et al., 2010). Although, for the organization to establish and maintain fruitful relational exchanges with these actors, interactions based on reciprocity, justice, and consistent treatment are expected.

Considering our objective, we examine 710 observations of Brazilian companies from between 2008 and 2017 and use a longitudinal multinomial logistic model to test the hypotheses. The sample was composed of São Paulo Stock Exchange companies responding to the Corporate Sustainability Index (ISE) questionnaire. The data regarding stakeholders’ relationships were collected from the ISE database. Innovation data were obtained from the National Institute for Intellectual Property (INPI) database. Data from the period from 2008 to 2018 were gathered, covering 3 and 5-year lags.

Our results show the relevant role of positive reciprocity and justice in stakeholders’ relationships in the development of open innovation. Results suggest that by delivering more positive reciprocity and justice to stakeholders in their relationships, the organization receives mutually contingent bonuses that increase the probability of developing open innovation. It is emphasized the immediate and residual/prolonged effect of reciprocity (years t, t + 3 and t + 5) and the long-term effect of justice (year t+5) over open innovation development.

Motivated by the gap regarding the relationship between stakeholders’ relationships and open innovation, this paper focused on analyzing the relationship between different stakeholders’ relationships and open innovation, by testing Brazilian company data. The results enabled two of the proposed hypotheses to be supported, contributing to O.I. and Stakeholder Theory literatures. The sample size of the study is one limitation, as well as the fact that we only analyzed data from Brazilian organizations. As a proposal for future studies, we suggest the use of other databases, such as KLD.

Barney, J. B. (2018). Why resource-based theory’s model of profit appropriation must incorporate a stakeholder perspective. Strategic Management Journal, 39(13), 3305-3325. Chesbrough, H. (2012). Open innovation: where we’ve been and where we’re going. Research-Technology Management, 55(4), 20-27. Griffin, J. J. (2016). Managing corporate impacts: co-creating value. New York: Cambridge University Press. Harrison, J. S., Bosse, D. A., & Phillips, R. A. (2010). Managing for stakeholders, stakeholder utility functions, and competitive advantage. Strategic Management Journal, 31(1), 58-74.