Research on the Impact of Open Innovation on the Business Performance of Aerospace Equipment Manufacturing Enterprises

Abstract

Amidst the accelerating pace of the digital economy, industries across the spectrum are increasingly embracing open innovation to enhance competitive edge of their products. Open innovation fosters the connection of internal and external resources and facilitates resource integration. However, the central issue that scholars are now focusing on is whether the adoption of open innovation genuinely brings significant changes in corporate performance and what the pathways of influence are. This paper is based on extensive literature review and domestic and data collection. engages in a theoretical analysis of the impact of open innovation actions in aerospace equipment manufacturing companies on operational performance. It puts forth corresponding hypotheses. Subsequently, through meticulous analysis and organization, this study selects 108 publicly listed companies on the Shanghai and Shenzhen stock markets that meet the criteria, covering the years from 2007 to 2022 as the subjects of investigation. It employs the virtual variable “Open Innovation” as an explanatory variable and complements it with one mediating variable and four control variables for empirical research. The following conclusions are drawn: Presently, the adoption of open innovation effectively enhances corporate performance. Open innovation influences corporate operational performance by impacting the company's internal integration capability. This paper presents practical and feasible recommendations from both a national and corporate perspective, facilitating their thriving development in the future.