Examining the Impact of Crowdsourcing and Open Innovation from the Emerging Country Perspective

This study examines the impact of crowdsourcing and open innovation in an emerging country like India. The study also investigates the moderating effects of technology support on improving firm performance and socio-economic conditions in emerging countries. The results of this study demonstrate that crowdsourcing and open innovation have a significant and positive role in the socio-economic condition in emerging countries, showing the emergence of an economy close to stakeholder capitalism or the Francesco Pope one. The study also finds that technology support significantly moderates successful crowdsourcing practices and open innovation activities, influencing sustainability-related factors. This study shows that crowdsourcing and open innovation practices can influence the socio-economic conditions in emerging countries by improving intermediate sustainability-related contextual issues like environmental, social, and economic factors. This implies that crowdsourcing and open innovation are relevant in emerging countries to ensure the socio-economic growth of the society where so many constraints prevail. This is a preliminary study on crowdsourcing and open innovation practices that firms in emerging countries follow. Using stakeholder theory and dynamic capability view to develop the unique conceptual model is essential to the body of knowledge. The inclusion of moderators like technology support is a unique value proposition. Moreover, the proposed theoretical model has a high predictive power, making the model impactful and novel.