A study of Schumpterian (radical) vs. Kirznerian (incremental) innovations in knowledge intensive industries

Cory Taylor Cromer, Clay Dibrell, Justin Craig

Research output: Contribution to journalArticleResearchpeer-review

Abstract

In this study we draw upon Schumpeterian and Kirznerian theories of innovation, to frame through use of U.S. patent data for the pharmaceutical and biotechnology industries for investigating the value of an organization’s knowledge through its intellectual property. Measures for both radical and incremental are developed and tested against firm performance. Our findings support the perspective of knowledge generation increasing financial and market performance returns for ventures concentrating their resources on the pursuit of Schumpeterian radical innovations through a strong organizational emphasis on the knowledge impact compared to lower performance returns for ventures which sought incremental innovation.
Original languageEnglish
Pages (from-to)28-42
Number of pages15
JournalJournal of Strategic Innovation and Sustainability
Volume7
Issue number1
Publication statusPublished - 2011

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Knowledge-intensive industries
Venture
Joseph Schumpeter
Incremental innovation
Knowledge organization
Market performance
Intellectual property
Radical innovation
Resources
Incremental
Firm performance
Patent data
Financial performance
Pharmaceutical industry
Knowledge generation
Biotechnology industry
Innovation

Cite this

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A study of Schumpterian (radical) vs. Kirznerian (incremental) innovations in knowledge intensive industries. / Cromer, Cory Taylor; Dibrell, Clay; Craig, Justin.

In: Journal of Strategic Innovation and Sustainability, Vol. 7, No. 1, 2011, p. 28-42.

Research output: Contribution to journalArticleResearchpeer-review

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