An impact analysis of COVID-19 on the relation between open In novation, IP openness and firm performance
This study empirically investigated how pre-COVID innovation activities and IP management affected business performance after the arrival of COVID-19. As a result, the following three points were clarified: First, the high level of R&D investment before the arrival of COVID-19 weakened the damage to sales and operating profit after its arrival. Second, we found that the firms that launched new products and services four years before the arrival of COVID-19 suffered more damage from COVID-19. Third, although innovation activities are vulnerable to the crisis as a whole, there are cases in which firms have not lost or improved their performance even after the arrival of COVID-19. Specifically, it became clear that the damage caused by COVID-19 was lesser for collaborative innovations involving many firms than for innovations realized by single firms. This was also demonstrated from the perspective of open IP management.
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