In this paper we empirically investigate the impact of two external knowledge acquisition strategies-'buy' and 'cooperate'aEuro"on firm's innovation performance. Taking a direct (productivity) approach, we test for complementarity effects in the simultaneous use of the two strategies, and in the intensity of their use. Our results-based on panels of Dutch and Swiss innovating firms-suggest that while both 'buy' and 'cooperate' have a positive effect on innovation, there is little statistical evidence that using them simultaneously leads to higher innovation performance. Results from the Dutch sample provide some indication that there are positive economies of scope in doing external and cooperative R&D simultaneously.
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- Open innovation, R&D collaboration, Make and buy strategies, RESEARCH-AND-DEVELOPMENT, DEVELOPMENT COOPERATION, TECHNOLOGY-TRANSFER, COMPLEMENTARITY