This study examines the effects of open innovation activities on the organizational performance of social ventures and empirically tests the moderating roles of partnership attributes and innovation intermediary support. Social ventures are hybrid org...
This study examines the effects of open innovation activities on the organizational performance of social ventures and empirically tests the moderating roles of partnership attributes and innovation intermediary support. Social ventures are hybrid organizations that pursue social value and economic sustainability simultaneously while operating under structural conditions characterized by resource constraints and power asymmetries. In this context, collaboration with public agencies, large corporations, and nonprofit organizations has become increasingly important for complementing resources and capabilities, and open innovation has emerged as a core growth strategy alongside the diffusion of the SDGs, CSV, and ESG agendas.
However, prior open innovation research has largely focused on conventional firms, emphasizing technological and knowledge inflows and outflows and economic outcomes, while insufficiently addressing the hybrid logics, resource dependence, and multi-sector partnership contexts faced by social ventures. Empirical evidence remains limited regarding the conditions under which open innovation activities in social ventures are translated into economic and social performance, as well as the roles of partnership attributes and innovation intermediary support in this conversion process.
To address these gaps, this study reconceptualizes open innovation in the social venture context and systematically examines the open innovation–performance relationship and its moderating conditions using an integrated analytical framework that combines the resource-based view, dynamic capabilities theory, and the relational view. The study combines a literature review with an empirical analysis based on survey data from 162 Korean social ventures registered on the Social Venture Square platform that had engaged in open innovation activities within the past three years. Open innovation activities are measured as a multidimensional construct encompassing inbound, outbound, and coupled activities, while organizational performance is distinguished between economic and social performance. Partnership attributes are operationalized through strategic fit and resource complementarity, and innovation intermediary factors are captured through different types of support provided by innovation intermediaries.
The results show that open innovation activities have significant positive effects on both economic and social performance in social ventures, indicating that open innovation functions as a core strategy for the simultaneous creation of economic and social value rather than merely as an auxiliary form of external collaboration. An analysis by activity type reveals that coupled open innovation activities exhibit consistently positive effects on both performance dimensions, although no statistically significant superiority over other activity types is found. This suggests that performance outcomes depend more on how organizational resources and capabilities are combined and reconfigured than on the selection of a specific activity type.
Regarding moderating effects, higher levels of strategic fit and resource complementarity strengthen the positive impact of open innovation activities on social performance, suggesting that alignment of goals, values, and complementary resources facilitates the translation of collaborative innovation into social value creation. Innovation intermediary support types do not exhibit significant moderating effects on either economic or social performance, but they show significant direct positive effects on economic performance. This indicates that innovation intermediaries function primarily as independent strategic resources rather than as mechanisms that amplify the performance effects of open innovation.
This study contributes theoretically by conceptualizing open innovation in social ventures as “orchestrated openness”, which integrates and coordinates external knowledge, resources, and relationships within internal innovation processes, and by empirically examining both the main effects and performance-specific conversion conditions of open innovation through an integrated theoretical framework. In particular, the finding that partnership attributes exert moderating effects only on social performance demonstrates that the effects of partnerships may operate asymmetrically across performance dimensions. From a policy perspective, the results indicate that open innovation support for social ventures should be designed in a differentiated manner according to activity types and partnership conditions, rather than as a uniform collaboration-promotion instrument. The consistent effects of coupled open innovation activities further support the need for policy designs that emphasize long-term collaborative structures and performance-sharing mechanisms. Practically, the findings show that social ventures should recognize open innovation as a core growth strategy and strategically combine inbound, outbound, and coupled activities according to their growth stages and objectives, while strengthening internal dynamic capabilities for absorbing, learning from, and reconfiguring external resources.
Finally, this study is subject to limitations related to the use of cross-sectional data and subjective performance measures, as well as the limited examination of the micro-level mechanisms of partnerships and innovation intermediary support. Future research should employ panel data and objective performance indicators to analyze the dynamic relationships among open innovation, partnerships, and performance, and should incorporate more fine-grained distinctions in collaboration tasks and support mechanisms.