Factors affecting product innovation performance according to dynamics of environment: evidence from Korean high-tech enterprises in manufacturing sector

Abstract

Recently product innovation is essential for high-tech enterprises to achieve the competitive advantages. Therefore, enterprises have to develop the optimal strategy that can effectively and directly increase the product innovation performance (PIP) while considering the changing pace and innovation dynamics of their industries. Although previous research revealed innovation factors that affect product innovation, few research has considered the direct influence of the factors on PIP with considering the differences of the relative importance of the factors according to the product innovation cycle time. The purpose of this paper is to identify the factors directly affecting on PIP and compare the relative importance of the factors in dynamic and non-dynamic environment. To this end, we conducted ordinary least square regression analysis using an empirical data extracted from Korea Innovation Survey 2010. Regression results reveal that some factors are only effective for the dynamic environment while some factors affect both environments.