Open Innovation, Knowledge Flows and Intellectual Capital

This study aims to discuss the link between open innovation, knowledge flows and intellectual capital. As far as the concept of open innovation is based on the knowledge in- and outflows across organizational boundaries, it makes influence on company's knowledge stock and has positive or negative impact on its intangible resource portfolio. The main issue addressed within this study is what influence open innovation makes on company's intellectual capital from the resource management point of view. The essence and the nature of open innovation are discussed first and foremost. Knowledge flow as the intermediary factor between open innovation and intellectual capital is presented afterwards. Intellectual capital construct is introduced from the resource based management theory point of view with a focus on strategic management. The link between open innovation and intellectual capital is analysed by discussing intellectual capital structure and distinguishing relevant components within it. (C) 2015 The Authors. Published by Elsevier Ltd.