Grounded in open innovation theory and the resource-based view (RBV) approach, this study examines the impact of inbound open innovation on firm performance, with a particular focus on the mediating role of innovation performance. Data were collected through surveys of 376 managers in the information technology (IT) sector in Vietnam. The findings indicate that inbound open innovation exerts a positive and significant influence on firm performance, both directly and indirectly through its impact on innovation performance. Furthermore, an intriguing insight emerged: long-established firms tend to underperform compared to their newer counterparts, suggesting potential challenges in adapting to rapid technological advancements. These results contribute empirical evidence reinforcing the critical role of open innovation and innovation performance in driving firm success, particularly in dynamic and technology-driven industries.
Trinh et al. (Thu,) studied this question.