Title

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

Date of this Version

1-1-2011

Document Type

Journal Article

Publication Details

Citation only.

Taylor Cromer, C., Dibrell, C., & Craig, J. B. (2011). A study of Schumpterian (radical) vs. Kirznerian (incremental) innovations in knowledge intensive industries. Journal of strategic innovation and sustainability, 7(1), 28-42.

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2011 HERDC submission. FoR code: 150304

© Copyright North American Business Press, 2011. All Rights Reserved.

ISSN

1718-2077

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.

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This document has been peer reviewed.