Firm Innovativeness and Its Performance Outcomes: A Meta-Analytic Review and Theoretical Integration

Drawing on the chain-of-effects model as a unifying framework, this meta-analysis indicates that firm innovativeness indirectly affects firm value through its effects on market position and financial position. In addition, the findings suggest that innovativeness has direct positive effects on finan...

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Bibliographic Details
Published in:Journal of marketing 2012-05, Vol.76 (3), p.130-147
Main Authors: Rubera, Gaia, Kirca, Ahmet H.
Format: Article
Language:English
Subjects:
Business innovation
Cash flow
Correlations
Educational innovation
High technology industries
Investors
Management science
Marketing
Product innovation
Technological innovation
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Summary:Drawing on the chain-of-effects model as a unifying framework, this meta-analysis indicates that firm innovativeness indirectly affects firm value through its effects on market position and financial position. In addition, the findings suggest that innovativeness has direct positive effects on financial position and firm value. Moreover, the metaanalysis provides evidence of reverse causality in the innovativeness-firm value relationship. Importantly, the results also reveal that the positive effects of firm innovativeness on market position and financial position are stronger for larger firms, for firms that invest more in advertising, for firms in high-tech industries, for innovativeness outputs and for radical innovations. Finally, the meta-analytic evidence also indicates that the relationship between innovativeness and firm value is stronger for smaller firms, for firms that invest more in advertising, for firms in lowtech industries, for innovativeness inputs, for innovativeness culture, and for radical innovations.
ISSN:0022-2429
1547-7185
DOI:10.1509/jm.10.0494