Journal of Business Research 140 (2022) 11–24

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Journal of Business Research

journal homepage: www.elsevier.com/locate/jbusres

Impact of ICT adoption on absorptive capacity and open innovation for

greater firm performance. The mediating role of ACAP
Héctor Cuevas-Vargas a, *, Joao Aguirre b, Neftalí Parga-Montoya c
a
Universidad Tecnológica del Suroeste de Guanajuato, Mexico
b
Zetyk- Strategic Intelligence Center, Colombia
c
Universidad Autónoma de Aguascalientes, Aguascalientes, Mexico

A R T I C L E I N F O A B S T R A C T

Keywords: The purpose of this research aims to empirically examine the impact of information and communication tech­
ICT adoption nology (ICT) adoption on absorptive capacity (ACAP) and open innovation (OI) for a greater business perfor­
Absorptive capacity mance and determine whether ACAP has a mediating role in the relation between ICT adoption and OI. A
Open innovation
quantitative approach and cross-sectional design through the Structural Equation Modeling was applied. A
Firm performance
Mediating effect
simple random sampling technique and a self-administered questionnaire was used to gather data from 145 small
PLS-SEM firms in Bogota, Colombia. The outcomes indicate that ICT adoption has a significant impact on ACAP and OI.
Furthermore, the evidence reveals that ACAP has a significant influence on OI. Moreover, ACAP demonstrated to
play a significant partial mediating effect in the relationship between ICT adoption and OI, indicating the ability
of ICT adoption to strengthen OI via ACAP. Furthermore, the results indicate that OI has a significant impact on
firm performance.

1. Introduction of information both in internal environments (culture, communication

processes, inter alia) (Nestle et al., 2019), and external environments
Open innovation (OI) has been considered one of the most important (external collaboration and information technology used) (Jiménez-
practices for companies to compete in the increasingly turbulent market Barrionuevo et al., 2019). ICT adoption is a key factor in the process of
(Bogers et al., 2018). The process of open innovation is defined, regu­ creating value in an organization (Howell et al., 2018). The literature
larly by the literature, as the combination of the internal mechanisms of has recognized the technological tools that store, process, and allow the
a company that start from internal and external ideas creating value in communication of information in different ways, contribute to the
business models (Adamides & Karacapilidis, 2020; Santoro et al., 2018). integration of innovation activities at various internal and external
Taking an inbound OI perspective, the process is explored from levels (Alshubiri et al., 2019; Chen & Tsou, 2007). ICTs guarantee the
incoming activities that associate the functionalities of the innovation constant cooperation of those involved in joint actions despite having
system and the characteristics of the technology that is acquired from great complexity, such as the innovation process (Jimenez-Jimenez
abroad (Remneland-Wikhamn & Wikhamn, 2011). This is related to the et al., 2019).
development of companies, representing a way for knowledge to be The relationship of ICTs with key elements of the firm in how the
transferred and trigger the performance of the company (Moretti & information is used is vital for it to represent a competitive advantage,
Biancardi, 2020). The developed theory that is used to explain OI starts especially in processes of capacity to assimilate the information and, in
from what Chesbrough (2003) introduced, which assumes that knowl­ this case, the process of innovation.
edge is shared under ideal conditions in the areas of the organization. In this sense, the scientific literature has considered that an impor­
Empirical studies have explained the benefit of innovation from an tant variable to predict innovation and the correct transfer of informa­
external perspective without considering the elements that make the tion in a company is the absorptive capacity (Flatten et al., 2011;
best use of the information. There is a gap in the literature that must be Volberda et al., 2010; Zou et al., 2018). To renew the knowledge of a
explained from the proper development of open innovation activities. To company, skills must absorb external knowledge and turn it into
this, it is convenient to anticipate with other capacities to favor the flow tangible assets that improve the position of the company in front of

* Corresponding author.
E-mail addresses: hcuevas@utsoe.edu.mx (H. Cuevas-Vargas), neftali.parga@edu.uaa.mx (N. Parga-Montoya).

https://doi.org/10.1016/j.jbusres.2021.11.058
Received 8 November 2020; Received in revised form 1 November 2021; Accepted 20 November 2021
Available online 4 December 2021
0148-2963/© 2021 Elsevier Inc. All rights reserved.
H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

others (Gao et al., 2017), thus being a competitive advantage that guides The structure of this document is as follows: first, a theoretical dis­
the involved in the same direction (Patterson & Ambrosini, 2015). In cussion of the study variables is carried out, the hypotheses are given,
this way, ACAP is an essential component to develop human capital to and the theoretical model proposal is made. Second, the methodology
favor the integration of new technological tools and contribute to the used is explained. The sample and the statistical tool used is presented.
innovation process (Wynarczyk et al., 2013). Finally, the results are shown, and the main discussions of the study are
One of the objectives pursued by this research is to fill the gap in the explained and the conclusions are presented, to end the limitations and
literature between innovation, information technologies and the ability future lines of research.
of companies to absorb knowledge.
In the literature, it is evident that OI has effects on the performance 2. Literature review
of companies. Zanjirchi et al. (2019) found that components such as
technology acquisition, exploitation of external technology, and the From a Resource-Based View (RBV), this study considers the pre­
culture of innovation are relevant to improve organizational dictor variables as dynamic capacities that assist firms to compete
performance. globally in the face of market demands (Barney, 1988; Barney et al.,
However, when testing what causes better OI performance, the ele­ 2001). Companies direct their efforts, mainly, toward increasing their
ments that improve OI conditions to impact better performance are still resources and capacities consistently to develop their strategic direction
unclear. Traditionally, OI is characterized by activities that trigger (Teece et al., 2008). Capabilities are deployed to create a complex sys­
added value in a complex dynamic process that combines the theoretical tem of operations, processes, and procedures inside and outside com­
and practical knowledge of the company (Chesbrough & Bogers, 2014). panies to be competitive despite turbulent scenarios (Tarafdar &
In this sense, arguing that the way in which the information is processed Gordon, 2007). In this sense, to build an innovation ecosystem it is
and how the company adopts the information is important to favor the necessary to create added value in activities that promote knowledge
OI. Although, the OI-related literature is regularly directed towards the and its transmission (Moretti & Biancardi, 2020). It is well known that
impact of business performance (Rangus et al., 2017). There is literature companies to be recognized as innovators must resort to correctly
that indicates that there are key elements that cause greater effective­ implementing their strategy for the use of technology (Cheah & Ho,
ness of OI (Adamides & Karacapilidis, 2020; Gómez et al., 2017). The 2020). Likewise, to adequately adopt the technology, they require the
approach is necessary to establish the best conditions for OI, in the study correct implementation of complex processes of assimilation, distribu­
by Adamides and Karacapilidis (2020), operational capabilities resolve tion, management and exploitation of information (Huber et al., 2020).
the plurality of information and efficiently deploy it in activities that For this reason, it is vitally important to go through the literature
support the transmission of information. analyzing the main arguments that relate to the performance of SMEs to
As mentioned above, there is a reiterative confusion in the literature ICTs adoption, ACAP and OI. Nowadays, small companies must support
about the main factors that improve the implementation of OI and it is their performance and sustainability in the implementation of infor­
reflected in the performance in companies, therefore, the main contri­ mation technologies, which impacts on improving positive economic,
bution of this research is to provide a holistic model that fills the gap in social and environmental performance in the long term (Abu Al-Rejal
performance effects. et al., 2020).
The setting of the relationships proposed in this study raises research
questions that have not yet been explored in the previous literature. 2.1. ICT adoption
First, can the adoption of Information and Communication Technology
(ICT) improve the Absorptive Capacity (ACAP) of companies? Are both Recently, there is rapid development in the adoption of ICT in or­
the adoption of ICT and ACAP capabilities that influence the OI of ganizations, especially in SMEs (Ahmadi & Osman, 2020). ICTs are
companies? Given this, is it possible that ACAP serves as a necessary being applied in different organizational areas, where new ways of
means for ICT to enhance innovation activities? And finally, does all identifying, storing, processing, analysing, distributing and exchanging
these capabilities have a global impact on business performance? We information within companies and with customers are being developed
address these questions in an empirical study, using a sample of 145 (Aguirre, 2015). Recent ICT developments have enormous implications
companies located in Bogotá, Colombia. In order to do this, obtain for the performance of organizations. It is essential to highlight that
important implications of the capacities related to information, its flow, performance can be understood from different perspectives, as well as
assimilation and exploitation used to trigger innovation. The companies economic benefits, market share, organizational growth, increased
have generated in recent years have developed the way to treat their profits, and even increasing the value of the company’s brand (El-
information, thus promoting innovation and performance. Companies in Haddadeh, 2020).
Colombia are especially interesting because they have had great po­ Currently, all kind of SMEs around the world is using ICTs. It is not
tential to be competitive in Latin America (González-Díaz & Ledesma, only to reduce costs and improve efficiency but also to provide better
2020). The Colombian context for innovation is relevant given that in­ customer service based on the popularization of the internet and the
vestment in science, technology and innovation has grown by 59.8% emergence of a new competitive scenario such as it is the digital medium
between 2010 and 2018 (Consejo Privado de Competitividad, 2019). (Travaglioni et al., 2020). Abdullah et al. (2020) affirm that ICTs can
The contribution to the literature remains consistent with the pre­ improve, sell, coordinate, control and monitor the operations of many
vious traits. First, empirical evidence is given of the direct and indirect organizations and can increase the use of management systems. On the
relationships of the capacities to exploit both internal and external other hand, Chaminade and Vang (2008) affirm that the impact of
knowledge of the company. The results show that ICT and ACAP guide globalization has forced many SMEs to adopt ICTs to survive in the
the company’s efforts towards greater innovation. In dynamic and un­ current competitive era, especially in the area of competition with large
certain contexts, it is necessary to delve into the elements that cause organizations. Ahmadi and Osman (2020) affirm that the implementa­
greater business performance based on innovation activities. In these tion of ICTs has managed to dramatically increase productivity gains
characteristics, knowledge takes on a ubiquitous nature that must be thanks to the new generation of business models based on ICTs (Han­
used both inside and outside the organization. We direct our attention to nigan et al., 2018). In the same vein, Cuevas-Vargas et al. (2020)
addressing the lack of theoretical and empirical discussion on the factors concluded that the use of ICT has a significant impact on firms perfor­
that provoke innovation, considering the mediating effect of ACAP. mance and it is a critical strategy for any kind of business, due to their
What this translates as the influence that the adoption of ICT and ACAP research demonstrated that ICTs allow Mexican SMEs to realize an
has on the OI and this, in turn, has implications in a higher performance optimal relationship among supply chain management, innovation and
of the company. performance.

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Previous studies have shown that IT adoption by SMEs is less than 2.3. Absorptive capacity
expected (Benson, 2019; De Marco et al., 2020; El-Haddadeh, 2020).
Several barriers to ICT adoption have been identified in the literature, The seminal works of Cohen and Levinthal (1990) and Zahra and
ranging from the lack of knowledge and experience of employees to George (2002) discuss the emphasis that the ability to recognize the
implement new technologies, to the lack of financial resources for the value of external information is an important component to develop
adequate implementation of new developments (Adamides & Kar­ innovation capacities. With the growing trend to increase the competi­
acapilidis, 2020; Ardito et al., 2018; Davies et al., 2018; Kafouros et al., tiveness of the world, all sectors generate an increasingly aggressive
2020). dynamic, where the management of innovation, the increase of intel­
Many studies have also focused on identifying the determinants that lectual capital and the transformation of the knowledge stock of a
influence ICT adoption. Where it is highlighted that a large part of the company is critical (Aboelmaged & Hashem, 2019; Chaminade & Vang,
studies was analysed from a broader perspective. Analysing the adoption 2008). For this reason, every day, more companies are working in the
of the Internet, they concluded that environmental factors such as capacity of absorbing knowledge to maintain their competitive advan­
government intervention, public administration, and external pressure tage (Aboelmaged & Hashem, 2019; Gkypali et al., 2018). To develop
from competitors, suppliers, and buyers play a crucial role in the this strategy, companies, especially SMEs, must increase the company’s
adoption and implementation of ICT (Arundel et al., 2019; Cheah & Ho, strategic flexibility and level of innovation based on knowledge (Ahmadi
2020; Leckel et al., 2020). & Osman, 2020).
Other studies aimed to identify organisational factors, such as Hötte (2020) propose that the absorptive capacity is manifested
corporate and administrative support in the innovative performance of through the presence of four elements, two of which refer to the po­
SMEs (Crescenzi & Gagliardi, 2018; Jugend et al., 2018); however, few tential absorptive capacity; these two refer to the acquisition of
studies focused on the skills necessary to implement from the perspec­ knowledge and assimilation of knowledge. On the other hand, the other
tive of knowledge absorption successfully. This shows that very little two elements are associated with the absorptive capacity carried out
material is currently available on the determinants of ICT adoption in that implies the transformation and the exploitation of knowledge. To
entrepreneurs or SMEs (Abdu & Jibir, 2018). sum up, absorptive capacity refers to the ability of a company to acquire,
absorb, transform and exploit knowledge (Božič & Dimovski, 2019).
2.2. Open innovation The potential absorptive capacity can be particularly strong in
companies with clear organizational guidelines geared towards
Nowadays, it is possible to identify that the literature is full of studies increasing intellectual capital; such as the reduction in job rotation,
focused on how and why innovation promotes economic growth (Cheah development of cross-functional interfaces and participation of the main
& Ho, 2020; Hannigan et al., 2018), and it is also possible to analyse stakeholders in decision-making (Naqshbandi & Tabche, 2018). On the
what the impact of innovation is in open scenarios or better called open other hand, the organizational mechanisms associated with socialization
innovation (Behnam et al., 2018; Travaglioni et al., 2020). In this capacities, such as connection and socialization tactics (Vlaisavljevic
context, open innovation (OI) emerges as a topic of great interest to et al., 2020), promote the absorptive capacity carried out in efforts to
study, accurately analysing the effect of information technologies and accumulate intellectual capital. The two dimensions of absorptive ca­
their relationship with the growth dynamics of innovation (Al-Belushi pacity have different but complementary roles (Benson, 2019).
et al., 2018). The potential absorptive capacity allows companies to implement
On the other hand, it is also interesting to explain what the impact of strategies based on competitiveness and sustainable development. The
OI on the performance of companies is. Studies on OI have evaluated use of these strategies does not guarantee companies to be successful in
how this affects the economic routine of companies (Adams et al., 2019; the market. Mainly the effect of competitiveness can be analysed from
Jin & Choi, 2019). Still, few references analyse the performance of small the perspective of the exploitation of knowledge because the concept of
companies under the influence of OI (De Marco et al., 2020; Elia et al., innovation is based on being able to bring a product or service to the
2020). market successfully. Gkypali et al. (2018) and Hötte (2020) emphasize
Adamides and Karacapilidis (2020) propose a perspective regarding that companies acquire and assimilate knowledge, without transforming
OI, where OI can be seen from regional, intra-organizational, extra- or exploiting it for the benefit of the organization. Therefore, the
organizational, inter-organizational and industrial innovation systems. acquisition and assimilation of new knowledge are prerequisites to
Nevertheless, the fundamental basis of their analysis is based on the exploit the absorptive capacity realized (Aboelmaged & Hashem, 2019).
inputs and outputs of knowledge to encourage innovation in companies Developing dynamic capabilities can be very difficult and chal­
(Adams et al., 2019). This theory is based on economic theory, which lenging for small businesses, as seen in the past few decades (Ardito
assumes the access and suitability of knowledge for companies (Anttila et al., 2018; D’Angelo et al., 2020; Froehlich et al., 2017). This phe­
& Jussila, 2019). Although Elia et al. (2020) maintain that OI encour­ nomenon, in turn, generates a direct opportunity for managers who must
ages business innovation and economic performance through the accu­ have the ability to incorporate different techniques and tools to appro­
mulation of knowledge. Previous studies have analysed the relationship priate new technologies without negatively impacting job performance
between the collaborative effect and innovation in the market are direct (Aguilar-Olaves et al., 2014; Lopes de Sousa Jabbour et al., 2019;
(Allal-Chérif & Bidan, 2017). Muninger et al., 2019).
Recently, the literature shows various types of OI sources that can be Absorptive capacity as the company’s ability to identify changes in
adopted by companies, such as competitors, consultants, clients, gov­ the environment directly impacts organizational performance, where it
ernment entities, network partners, suppliers, universities, research in­ facilitates the deployment of the necessary capabilities to renew the
stitutes, conferences, scientific journals, and industrial associations. knowledge and skills base, and the most flexible use of resources and
Stakeholders that interact together generate relationship dynamics that capabilities. In fact, Abdullah et al. (2020), Ahmadi and Osman (2020)
drive open innovation (Adamides & Karacapilidis, 2020; Leonidou et al., propose that absorptive capacity increases competitive advantage
2018; Wiesmeth, 2020). It is essential to see that if OI is involved in through flexibility (Abdullah et al., 2020). For this reason, the acquisi­
business relationships between companies, they derive their success tion and assimilation of external knowledge is a valuable resource to
from the quality of human relationships and interaction with informa­ increase performance and flexibility. Only companies that have well-
tion technologies (Aguirre & Restrepo, 2012; de Kleijn et al., 2019). developed capacities to acquire and assimilate knowledge will be able
to identify trends and opportunities, and thus flexibly reconfigure their
resource base (Gebauer et al., 2012). In other words, likely, only com­
panies with a strong capacity to acquire and assimilate knowledge based

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on digital technologies will have a high level of strategic flexibility that systems available allow companies to assimilate external knowledge
allows them to react strategically to business risks and opportunities (Patel et al., 2012), in tools such as enterprise resource planning, supply
(Romano, 2019). chain management or customer relationship management (Wu et al.,
2021). Important results have been found on how ICT adoption supports
2.4. ICT, ACAP, OI and firm performance access to external information in a fluid and reliable way (Jansen et al.,
2005). It has even been concluded that to carry out technological
This study focuses on the analysis of the triggers of OI and its rela­ ambidexterity, imperative skills are required to maintain the exploita­
tionship with business performance. In this sense, recent literature has tion and exploration of external knowledge (Rothaermel & Alexandre,
discussed the importance of OI to drive the firm towards organizational 2009). In the case of Huber et al. (2020), the implementation of tech­
success and higher performance (Wu et al., 2021; Zanjirchi et al., 2019). nological tools supports the system of assimilation, acquisition, trans­
Companies have financial and non-financial resources in the execution formation, and exploitation of knowledge for innovation purposes.
of innovation, assimilation and knowledge management practices to Although, the correct implementation of ICT tools depends on several
achieve better organizational results (Du et al., 2014). factors such as the resources to integrate the technology or the re­
Many studies show that SMEs are the engine of economic growth, quirements in the infrastructure. Stakeholders must confront these ob­
driving job creation and promoting competitiveness in national and stacles to evaluate the information in a homogeneous, efficient and
global markets (Antonelli et al., 2015; Bodlaj et al., 2020; Van Fossen effective way (Adamides & Karacapilidis, 2020).
et al., 2018). They also play a key role in growth based on innovation These arguments lead us to our first hypothesis:
and productivity (Ma et al., 2019). The main strategies to implement to
reach their maximum potential for SMEs must be updated with new H1: ICT adoption has positive effects on ACAP.
management and economic trends, such as the use of IT (Abdullah et al.,
2020). 2.6. Relationship between ICT adoption and OI
One of the competitive advantages of advances in ICT is the revi­
talisation of capacities to innovate (Aguilar-Olaves et al., 2014), where Benson (2019) affirms that to guarantee a positive and successful
these directly impact the absorptive ability that the company may have approval of OI, the participation of ICTs is currently required. The role of
and thus influence innovation, marketing, and increased efficiency, best technology favors the ability to adopt an innovative stance because it
quality and responsiveness of the customer (Aboelmaged & Hashem, provides the tools to assimilate the innovation process (Moretti &
2019; Adamides & Karacapilidis, 2020). Biancardi, 2020). For Zanjirchi et al. (2019), innovative firms develop
Abdu and Jibir (2018) and Antonelli et al. (2015) propose that both services that favor innovation from both internal and external connec­
the accumulation of knowledge and interaction with ICT generates a tions in a collaborative sense with those involved in the process. On the
positive effect on the company’s innovation performance. Similarly, other hand, according to the Elia et al. (2020) study, the relationship
Bodlaj et al. (2020) study the impact of the characteristics of the com­ between ICT adoption and OI was identified where the appropriate
pany’s networking and the return of SMEs based on innovation. On the adoption of digital tools based on technology and communication tools
other hand, Ioanid et al. (2018) find that the complementarity of the is possible to analyse a direct correlation between the positive impact of
objectives is positively related to the performance of the innovation. the adoption of information technologies on the effect of open innova­
Gomes and Wojahn (2017) postulate a positive relationship between the tion. On the other hand, empirical evidence shows that ICT can support
implementation of digital tools (information technology) and the per­ organizations in their OI processes and create a positive environment
formance of OI and a positive correlation between previous social cap­ that boosts people to take advantage of existing external technology
ital and firm social capital. opportunities and sources of knowledge (Aloini et al., 2017). Likewise,
Adams et al. (2019) and Ben Arfi et al. (2018) find that the formal Wu et al. (2021) found that not only internal ICT capability but also
collaborations of knowledge-based companies show a more substantial external ICT capability have positive and significant effect on OI. On one
positive and significant effect on the revenue share of new products in hand, internal ICT capability allows companies to store knowledge and
the company and to generate this development they must be based on encourage employees to communicate with others to share or exploit
digital tools that involve informal collaborations (Alade et al., 2020). their knowledge to increase OI; on the other hand, external ICT capa­
Alarcón et al. (2019) proposes that the breadth of company networks, bility facilitates access to external knowledge in the process of OI.
the number of external sources of knowledge, and collaborative work Analysing these arguments, we examine the following hypothesis:
have a positive effect both on the global innovation of companies and on
the performance of product innovation. In addition, the absorptive ca­ H2: ICT adoption has positive effects on OI.
pacity of knowledge and the open innovation culture based on con­
nectivity, strategic and structural flexibility have a positive and 2.7. Relationship between ACAP and OI
significant effect on the innovation success of a company (Kademeteme
& Twinomurinzi, 2019). For Vanhaverbeke et al. (2008), the rational view of the firm extends
the term of ACAP towards the strategic perspective of a company and the
2.5. Relationship between ICT adoption and ACAP real options perspective to increase the possibilities of better in­
novations. Similarly, Spithoven et al. (2010) highlight that companies
Aboelmaged and Hashem (2019) argue that ICTs not only help or­ use ACAP to internalize the knowledge that comes from outside for its
ganisations to be more efficient and practical but also have a direct management and exploitation. The approach used in this study focuses
impact on their competitiveness. Cheah and Ho (2020) affirm that or­ on the appropriate organizational processes to generate the open inno­
ganisations have the opportunity to achieve their goals if they vative position, in this sense, Jasimuddin and Naqshbandi (2019), the
adequately implement a correct technology-based strategy. Vidmar efficiency with which the assimilation, process, analysis and distribution
et al. (2020) further state that web-enabled services increase the of knowledge is carried out, for part of the employees, increases the
competitiveness of organisations as customer relationships change and possibility of developing innovation activities. For Brockman et al.
help create a close link between companies and customers. (2018), knowledge absorption processes are a primary factor for
Daniel and Huang (2019) suggest that the nexus between ICT and implementing open innovation in a stable way and creating value from
ACAP is essential for companies to generate new knowledge resources the organization.
and develop latent knowledge, if firms can use this knowledge nexus Aboelmaged and Hashem (2019) successfully identified that the
with a tacit-explicit-latent perspective knowledge. First, the information dynamic effect of the organisation of capacities in an organisation has a

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H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

positive relationship in the results of open innovation. Jasimuddin and 2014; Liu et al., 2013; Rothaermel & Alexandre, 2009). The scope of this
Naqshbandi (2019) concluded that there is a positive and significant study is to reveal how absorptive skills make the closeness between the
relationship between ACAP and OI, according to their study with 125 ICT adoption and OI variables more likely. Therefore, the following is
SMEs based in France. In this sense, strong ACAP, characterized by discussed.
higher levels of learning orientation, can motivate and boost people to For Vlačić et al. (2019), ACAP intervenes in the innovation process in
acquire new external knowledge (Jansen et al., 2005). Likewise, Wu a systematic way to manage knowledge as a critical input to introduce
et al. (2021) in their research with 232 Chinese firms explored the changes such as organizational commitment and motivation. According
relationship between ICT capability and OI performance, their outcomes to scientific literature, it has been found that most of studies empirically
indicated that realized ACAP has a significant and positive effect of 24% confirm that ACAP plays a mediating role on the relationship between
on OI. Jugend et al. (2018) in their study argue with the survey of small ICT capability and firm performance (Cooper & Molla, 2017). A relevant
companies where more than 60% of the analysed companies have a high study that analyzes the moderating role of ACAP was the work of
impact on innovation after the adequate implementation of knowledge Naqshbandi and Tabche (2018): the moderating role of ACAP was
management tools, however, the adoption of innovative practices of suggested between organizational learning culture and OI, however, the
modification, the intensive use of internal and external knowledge. The results were not significant, although it is an approximation of the role of
acquisition, assimilation, transformation and correct exploitation of ACAP in the development of further innovation.
open data is intervened through the ACAP process, thus, the correct use However, just little empirical research has analysed the mediating
of information in SMEs is directed (Huber et al., 2020). Thus: role of ACAP on the relationship between ICT and OI (Wu et al., 2021).
Furthermore, these authors maintain that ACAP refers the firms’ capa­
H3: ACAP has positive effects on OI. bilities to acquire, assimilate, transform and exploit knowledge, being
this a key factor in linking ICT and open innovation. Their outcomes
2.8. Relationship between open innovation and firm performance indicate that realized ACAP has a partial mediating effect in the rela­
tionship between internal ICT capability and OI, due to internal ICT
It is essential to highlight that innovative companies will develop a capability impacts in a positive and significant indirect way on open
set of organizational capacities that can meet dynamic market changes, innovation through realized ACAP. For their part, Jasimuddin and
and in turn will have the ability to offer innovative services under the Naqshbandi (2019) in their study with French SMEs found that ACAP
concept of open innovation (Adamides & Karacapilidis, 2020; Allal- partially mediates the relationship between knowledge infrastructure
Chérif & Bidan, 2017). These capabilities have the potential to capability and inbound OI. In the study by Dabic et al. (2019), ACAP is
strengthen organizational and direct stability and impact on business defined as a dynamic capacity that defines the mechanisms by which a
performance (Brockman et al., 2018). For El-Haddadeh (2020), busi­ company obtains higher performance through knowledge management.
nesses promote the identification, storage, processing, analysis and Zobel (2017) reveals that the adequate exploitation of external infor­
distribution of information to increase their performance. mation contributes to product innovation, without ACAP external in­
Furthermore, Song (2016) proposed that the external ties of a focal formation is not recognized, assimilated, or exploited to be used as a
organization with its suppliers, complementary companies, competitors, competitive advantage. Under these arguments, the fifth hypothesis is
and customers play a vital role in firm performance within its innovation framed as follows:
ecosystem. Therefore, if companies develop collaborative developments
through the implementation of computer tools and information tech­ H5: ACAP has a mediating effect on the relationship between ICT
nologies, they have great potential to be innovative companies today are adoption and OI.
characterized by being companies that operate collaboratively, carry out
research and development efforts supported by other companies, and 3. Methodology
generate joint growth dynamics in the style of joint events (Allal-Chérif
& Bidan, 2017). According to the empirical evidence, on one hand, This empirical research had a quantitative approach, with a non-
Zanjirchi et al. (2019) in their research with companies in Iran experimental design and a cross-sectional, with tests of causal hypoth­
concluded that OI by itself had significant effect on organizational eses, through the statistical technique of Partial Least Squares Structural
performance and value creation. On the other hand, Moretti and Bian­ Equations Modeling (PLS-SEM), using SmartPLS®3 statistical software
cardi (2020) in their panel data study with European firms concluded (Ringle et al., 2015). The implementation of this technique is due to two
that not only the internal development but also the acquisition of main reasons. Firstly, because it works with small samples, as it is this
knowledge are positively and significantly correlated with turnover case; and second, because it works with non-parametric tests, thus
(economic performance). Besides, they found that internal development solving possible problems of data non-normality (Hair et al., 2017). It is
has a positive and significant correlation with the value of firm shares noteworthy that, when applying PLS-SEM, it was first necessary to es­
(financial performance) and employment (human resources timate the measurement model as a hierarchical components model
performance). (Lohmöller, 1989) using the indicator repetition approach (Ringle et al.,
These arguments direct us to: 2012; Wetzels et al., 2009), which is necessary to run higher-order
models in PLS-SEM (Hair, Hult, Ringle, & Sarstedt, 2017; Cuevas-
H4: OI has positive effects on firm performance. Vargas, 2016), thus obtaining the reliability and validity of the con­
structs under study, to then evaluate the structural model and thus be
2.9. ACAP mediates the relationship between ICT adoption and open able to contrast the research hypotheses and evaluate the indirect effects
innovation of the ICT adoption, and finally, determine the mediating effect of ACAP
in the relationship between ICT adoption and OI.
The mediation and moderation processes have different meanings. On the other hand, it is highlighted that the statistical technique of
This study considers the mediating effects of ACAP in the relationship PLS-SEM offers non-parametric evaluation criteria based on the use of
between ICT adoption and OI. That is, the mediation means that ACAP is bootstrapping and blindfolding, since it does not have a unique
a mechanism that explains the relationship between ICT adoption and goodness-of-fit criterion to evaluate the PLS-SEM results (Hair et al.,
OI, therefore, the strength of mediation could change the function of one 2014).
construct over the other (Muller et al., 2005). Although, the literature
has analyzed the role of both mediator and moderator role of ACAP with
different constructs (Fernhaber & Patel, 2012; Leal-rodríguez et al.,

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H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

3.1. Sample design and data collection 3.2.4. Firm performance

To measure firm performance, the reflective type lower order scale
To carry out this research, the database of the Bogotá Chamber of (LOC) used by Flatten et al. (2011), based on Pelham (1999), which
Commerce (2018) was taken as a reference, considering as a universe allows to measure the performance of the company in the last three
the economic units in the department of Bogotá, Colombia that have one years in comparison with its closest competitor, using a subjective
to 200 workers. With a confidence level of 95%, a margin of error of 6%, measure made up of five indicators, which allow measuring the growth
P = Q = 0.5. Using the formula for finite populations, a sample of 267 the firm had in sales, return on investment, operating profit margin,
companies was obtained. In this way, the simple random sampling return on equity, and customer retention. All of them were measured
technique was applied and the survey was sent to the same number of with a five-point Likert-type scale; where possible answers range from
companies so that they could be answered by the owners or managers of totally disagree to totally agree. All measurements items are shown in
the companies chosen from the sample, however, only 145 valid surveys Appendix 4.
were received during the period from February to April 2018, which
represent the final sample of this study. 3.2.5. Control variable
This research considered two control variables, namely, the size of
3.1.1. Sample profile the firm and the industry type. The firm size, which may be crucial to a
The sample is distributed as follows, 69 of the firms are micro-sized, company’s ability and performance (Zhou & Li, 2010), this variable was
69 are small-sized, and only 7 are medium-sized. On the other hand, 68 measured by the number of employees, which were classified into two
firms are family type and 77 are non-family; 79 are mature companies groups, the group of the micro-sized firms and the group of the small-
with more than 10 years of operation and 66 are young firms with less sized firms. The industry type, because manufacturing and service
than 10 years of operation; 96 firms are headed by men and only 49 by companies may have significant differences in management and strate­
women: Regarding the sector, 80 firms belong to the services sector and gies as Frohlich and Westbrook (2002) mention. Thus, industry type was
65 firms are from the industrial sector. treated as a dummy variable, such that 1 indicated manufacturing in­
dustry and 0 represented the services sector.
3.2. Variables
3.3. Common method variance (CMV)
3.2.1. ICT adoption
To measure the ICT adoption, the higher order scale (HOC) adapted In order to guarantee that CMV is not an issue, some post-hoc tech­
from Chen and Tsou (2007) was used, which measures the adoption of niques have been evaluated to give evidence that the potential existence
ICT with four reflective dimensions: (1) ICT infrastructure, measured by of CMV does not significantly affect the interpretation of the results
four indicators; (2) strategic alignment, measured through four in­ (Rodríguez-Ardura & Meseguer-Artola, 2020).
dicators; (3) organizational structure, measured by five indicators; and First, the Harman’s one-factor test was applied by taking all in­
(4) individual learning, measured with five indicators. All of them were dicators in an exploratory factor analysis (EFA), through the statistical
measured with a five-point Likert-type scale; where possible answers software IBM SPSS version 27, using unrotated first-factor which ac­
range from totally disagree to totally agree. All measurements items are counts for only 48.13 percent explained variance that is less than 50
shown in Appendix 1. percent on all observed indicators, including dependent variable (Pod­
sakoff & Organ, 1986). Thus, common method variance does not in­
3.2.2. Absorptive capacity fluence the results to a great extent.
To measure ACAP, the higher order scale (HOC) adapted from Besides, this analysis was complemented by comparing the confir­
Flatten et al. (2011) was used, which measures the absorptive capacity matory factor analysis (CFA) using one single factor (unmeasured
with four reflective-type dimensions: (1) knowledge acquisition, marker variable) with the theoretical model, through the partial corre­
measured by three indicators; (2) assimilation of knowledge, measured lation method, finding that there is not a significant difference, since the
through four indicators; (3) transformation of knowledge, measured by value of the endogenous variable (firm performance) was lower than 10
four indicators; and (4) exploitation of knowledge, measured with four percent (0.197 vs 0.215), which indicates that there is no common
indicators. All of them were measured with a five-point Likert-type method variance problem (Chin et al., 2013). Finally, when evaluating
scale; where possible answers range from totally disagree to totally for CMV based on full collinearity assessment, it was found that neither
agree. All measurements items are shown in Appendix 2. the higher order latent variables nor the lower order latent variable
reached the variance inflation factor (VIF) threshold value greater than
3.2.3. Open innovation 3.3; ICT adoption (VIF = 2.323), ACAP (VIF = 2.928), OI (VIF = 3.136),
To measure OI, the higher order open innovation climate scale was and firm performance (VIF = 1.416), and according to Kock (2015) these
used, which consists of three lower-order reflective constructs adapted values are lower than 3.3, hence there is no common method variance
from Remneland-Wikhamn and Wikhamn (2011), the first referring to problem.
the challenge of innovation and the last two to the challenge of open­
ness: (1) innovation and flexibility, made up of six indicators that 3.4. Reliability and validity
measure an orientation towards change, as well as the degree of
encouragement and support for new ideas and innovative approaches The results obtained through the PLS algorithm show that the model
(Patterson et al., 2005); (2) the external approach, consisting of six in­ requires some adjustments, since some of the variables do not have
dicators, which allow measuring the degree to which the organization factor loadings greater than 0.7 (Hair et al., 2017), that is why the
responds to the needs of the client and the market in general (Patterson manifest variables IF2 (our company quickly responds when changes are
et al., 2005); (3) Reflexivity, made up of five indicators, which allow for necessary), OF1 (our company is quite external), OF3 (customer needs
reviewing and reflecting on the objectives, strategies and work processes are a priority for our company), OF4 (immediate response to customer
in order to adapt to the broader environment (Patterson et al., 2005). All needs), and OF6 (Our company has the facility to incorporate ideas from
of them were measured with a five-point Likert-type scale; where outside the company) were eliminated. In this way, the high internal
possible answers range from totally disagree to totally agree. All mea­ consistency of the twelve lower order reflective constructs and of the
surements items are shown in Appendix 3. three higher order constructs was achieved, since the composite reli­
ability (CR) easily exceeds the critical value of 0.7 recommended by Hair
et al., 2017. Similarly, Cronbach’s Alpha for each construct is greater

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H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

than 0.7 as suggested by Nunnally and Bernstein (1994). Furthermore, 4. Results

the rho_A critical value for each construct is greater than 0.7 as sug­
gested by Dijkstra and Henseler (2015). On the other hand, all the To test the five research hypotheses, the structural model was
constructs exceed the critical value of 0.5 of the average variance assessed using the bootstrapping of SmartPLS®3 (Ringle et al., 2015). As
extracted (AVE) (Fornell & Larcker, 1981; Hair et al., 2012), as shown in it can be seen in Table 3, there is sufficient empirical evidence to obtain
Table 1. confidence intervals and thus evaluate the precision of the parameters,
In addition, it was found that all the outer loadings of the indicators since the results show that the structural model has predictive relevance
(manifest variables) are greater than 0.7 (Hair et al., 2017), as observed due to two main reasons. First, because OI is explained in 68.8% by ICT
in the ranges they had, besides all of them being statistically significant adoption and ACAP (R2 = 0.688); ACAP is explained in 46.8% by ICT
(p < 0.001), which guarantees the communality of each manifest vari­ adoption (R2 = 0.468); and firm performance is explained in 19.7% by
able; and since the AVE values are greater than 0.5, it is guaranteed that OI (R2 = 0.197). Therefore, the results allow us to infer that ACAP and
each of the scales used has convergent validity (Hair et al., 2017). OI in their role as endogenous constructs have explanatory capacity
Moreover, the discriminant validity of the constructs was evaluated because the values of R-square are much higher than 0.20 (Chin, 1998),
through two tests, using the Heterotrait-Monotrait correlations ratio as well as the firm performance for having a value very close to 0.2
(HTMT90) and the Fornell and Larcker criterion test, which are shown in (Chin, 1998) and greater than 0.1 (Falk & Miller, 1992), therefore, the
Table 2. First, above the diagonal, the Heterotrait-Monotrait correla­ model has good quality and its results are useful for business decision-
tions ratio (HTMT90) test is shown, as it is considered the best perfor­ making.
mance criterion to determine the discriminant validity of the constructs On the other hand, when evaluating the predictive relevance of the
(Cuevas-Vargas, 2016; Cuevas-Vargas et al., 2019; Henseler et al., endogenous constructs of the model using the blindfolding technique of
2015), in which once the complete bootstrapping was calculated, the the Stone-Geisser Q2 test (Geisser, 1974; Stone, 1974). In this vein, a Q2
values of the correlations between the reflective constructs were found value greater than zero for a specific endogenous reflective type
to be lower than 0.90 (Gold et al., 2001; Henseler et al., 2015; Teo et al., construct shows the predictive relevance of the path model (Hair et al.,
2008). Second, the Fornell-Larcker criterion test was applied, which was 2014). In this study, ACAP, OI and firm performance in their role as
calculated using the square root of the AVE of each of the constructs, endogenous variables, show their predictive relevance for having ob­
whose values in bold represent the diagonal of the table, and according tained Q2 values well above zero (Geisser, 1974; Stone, 1974). There­
to Fornell and Larcker (1981) these values are higher than their corre­ fore, this model has predictive relevance for ACAP, OI and firm
sponding correlations with any other construct, as observed below the performance, in their role of endogenous constructs.
diagonal. Therefore, based on these outcomes, it can be concluded that With regard to the testing of the research hypothesis H1, the PLS-SEM
the data of this study are reliable and valid to test the research hy­ results presented in Table 3, empirically demonstrate that ICT adoption
potheses with PLS-SEM. has positive and significant effects on ACAP (β = 0.468, p < 0.001),
therefore, H1 is supported, since ICT adoption has been found to
significantly impact in 46.8% on ACAP, and according to the Cohen
(1988) test, it has a very large effect, having obtained a value off 2 =

Table 1
Reflective measurement model assessment.
Lower Order Constructs (LOCs) Convergent Validity Internal consistency

Reliability

Indicators (Manifest variables) Outer Loadings range Cronbach’s Alpha Rho_A CR AVE

>0.7 >0.7 >0.7 >0.5

ICT Infrastructure ITI1,ITI2,ITI3,ITI4 0.962–0.976 0.978 0.978 0.984 0.938

Strategic Alignment SA1,SA2,SA3,SA4 0.904–0.944 0.947 0.952 0.962 0.863
Organizational Structure OS1,OS2,OS3,OS4,OS5 0.887–0.953 0.955 0.958 0.966 0.849
Individual Learning IL1,IL2,IL3,IL4,IL5 0.913–0.980 0.981 0.982 0.985 0.929
Acquisition AC1,AC2,AC3 0.935–1.979 0.960 0.960 0.974 0.926
Assimilation AS1,AS2,AS3,AS4 0.802–0.878 0.865 0.866 0.908 0.713
Transformation TR1,TR2,TR3,TR4 0.886–0.950 0.944 0.951 0.959 0.855
Exploitation EX1,EX2,EX3 0.810–0.958 0.888 0.902 0.932 0.821
Innovation and flexibility IF1,IF3,IF4,IF5,IF6 0.817–0.875 0.896 0.899 0.923 0.707
Outward Focus OF2,OF5 0.872–0.924 0.765 0.797 0.893 0.808
Reflexivity RE1,RE2,RE3,RE4,RE5 0.749–0.921 0.921 0.924 0.941 0.763
Firm performance DE1,DE2,DE3,DE4,DE5 0.720–0.899 0.893 0.916 0.921 0.702

Higher Order Constructs (HOCs) Variables Path Coefficients (t-value) Cronbach’s Alpha Rho_A CR AVE

>0.7 >0.7 >0.7 >0.5

ICT Adoption ICT Infrastructure 0.937 (65.15) 0.985 0.985 0.986 0.749
Strategic Alignment 0.923 (56.78)
Organizational Structure 0.956 (117.66)
Individual Learning 0.950 (88.49)
Absorptive Capacity Acquisition 0.798 (22.96) 0.930 0.934 0.939 0.524
Assimilation 0.831 (22.39)
Transformation 0.755 (16.19)
Exploitation 0.820 (31.82)
Open Innovation Innovation and flexibility 0.947 (87.78) 0.944 0.946 0.951 0.621
Outward Focus 0.799 (23.08)
Reflexivity 0.928 (66.89)
NOTE: The t-values of every single outer loading were significant (p < 0.001)

Source: Own contribution from results obtained with SmartPLS® 3. Ringle et al. (2015).

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H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

Table 2
Discriminant validity for the lower order constructs.
Constructs AVE INF SAL OST ILE ACQ ASS TRA EXP I&F OFO REF FPE

0.938 0.863 0.849 0.929 0.926 0.713 0.855 0.821 0.707 0.808 0.763 0.702

ICT Infrastructure 0.968 0.838 0.898 0.873 0.688 0.427 0.287 0.731 0.681 0.504 0.671 0.505
Strategic Alignment 0.811 0.929 0.898 0.857 0.644 0.494 0.406 0.746 0.711 0.536 0.675 0.525
Organizational Structure 0.870 0.860 0.921 0.895 0.670 0.452 0.297 0.723 0.690 0.468 0.639 0.562
Individual Learning 0.854 0.832 0.867 0.964 0.667 0.464 0.347 0.722 0.725 0.492 0.682 0.475
Acquisition 0.666 0.619 0.644 0.647 0.962 0.569 0.386 0.714 0.694 0.491 0.706 0.428
Assimilation 0.394 0.450 0.413 0.429 0.520 0.844 0.656 0.625 0.710 0.697 0.624 0.374
Transformation 0.282 0.387 0.286 0.341 0.376 0.593 0.925 0.470 0.603 0.631 0.316 0.338
Exploitation 0.687 0.696 0.672 0.681 0.661 0.547 0.438 0.906 0.853 0.690 0.731 0.548
Innovation and flexibility 0.642 0.663 0.645 0.684 0.651 0.629 0.556 0.763 0.841 0.877 0.857 0.469
Outward Focus 0.446 0.461 0.410 0.435 0.428 0.567 0.530 0.573 0.735 0.899 0.726 0.387
Reflexivity 0.637 0.636 0.602 0.649 0.664 0.559 0.302 0.661 0.785 0.620 0.874 0.431
Firm Performance 0.479 0.492 0.526 0.459 0.405 0.340 0.322 0.499 0.438 0.328 0.404 0.838

NOTE: The diagonal numbers (in bold) represent the square root of the AVE values (for reflective constructs). Above the diagonal the HTMT.90 correlations ratio test is
presented; below the diagonal, the Fornell-Larcker criterion test is presented.
Source: Own contribution from results obtained with SmartPLS® 3. Ringle et al. (2015),

Table 3
PLS-SEM results of the structural model.
Hypotheses Path Standardized Coefficient β t-value Decision f2 Q2 R2

H1 ICT Adoption → ACAP 0.684*** 8.679 Supported 0.879 0.220 0.468

H2 ICT Adoption → OI 0.306*** 3.359 Supported 0.160 0.393 0.688
H3 ACAP → OI 0.589*** 6.101 Supported 0.591
H4 OI → Firm Performance 0.444*** 8.617 Supported 0.246 0.123 0.197
H5 ICT Adoption → ACAP → OI 0.403*** 3.815 Supported NA NA

Significance: *** = p < 0.001; ** = p < 0.05.

f 2 effect sizes: >0.02 = small effect; >0.15 = medium effect; >0.35 = large effect (Cohen, 1988).
R2 values: >0.10 (Falk & Miller, 1992); >0.20 = weak; >0.33 = moderate; >0.67 = substantial (Chin, 1998).
Q2: >0 = The model has predictive relevance for a specific endogenous construct (Stone, 1974).
Source: Own contribution from results obtained with SmartPLS® 3. Ringle et al. (2015).

0.879 , indicating that ICT adoption has a great contribution to the indicating that OI has a small contribution to the prediction power of
prediction power of ACAP in small Colombian firms. Our results confirm firm performance in small Colombian firms. These findings are consis­
Daniel and Huang’s (2019) conclusions who suggest that organizations tent with scientific literature and confirm the results obtained by Zan­
should boost the relationship between ICT and ACAP if they want to jirchi et al. (2019) in their study with firms in Yazd Science and
generate new knowledge resources and increase the knowledge they Technology Park in Iran, as well as, Moretti and Biancardi’s (2020)
have. findings with European firms, both studies concluded that OI had a
Regarding H2, the results indicate that ICT adoption has positive and positive and significant impact on business performance.
significant effects on OI (β = 0.306, p ≤ 0.001). Therefore, H2 is sup­ Likewise, in order to demonstrate the total effects of ICT adoption on
ported, since ICT adoption significantly impacts in 30.6% on OI, and OI, indirect effects were evaluated, with the purpose of knowing the
according to the Cohen (1988) test, it has a medium effect, since a value mediating role of ACAP on the relationship between ICT adoption and
off 2 = 0.160 has been obtained, indicating that ICT adoption has a OI. Based on the conditions suggested by Zhao et al. (2010) for testing
medium contribution to the predictive power of OI in small Colombian mediating effects in PLS, we first, tested the indirect effect a × b; second,
firms. This findings are consistent with those obtained by Elia et al. we determined the size of the mediation; third, we tested the signifi­
(2020) in their case study with a multinational firm. Furthermore, our cance by using bootstrapping test using 5,000 subsamples and the
results confirm that ICTs have a strong impact on ACAP (Aloini et al., evaluation of the 95% confidence intervals (CI) bias corrected where
2017; Wu et al., 2021). zero is not presented. The empirical results indicate that ICT adoption
Concerning the third hypothesis, the outcomes indicate that ACAP has a significant indirect effect (β = 0.403, p < 0.001), moreover, in the
has positive and significant effects on OI (β = 0.589, p < 0.001), confidence intervals, zero is not presented, as can be seen in Table 4,
therefore, H3 is supported, since ACAP has been found to significantly which demonstrates the mediating effect of ACAP and, based on the
impact in 58.9% in the OI, and according to the Cohen (1988) test, the criteria of Zhao et al. (2010), it is considered as complementary partial
effect is considered as large, due to the value off 2 = 0.591, indicating mediation since both the indirect and the direct effect are significant and
that ACAP has a very large contribution in the predictive power of OI in positive. Our findings provide empirical support for the mediating role
small Colombian firms. In this sense, our results confirm the findings of of ACAP in our theoretical model. More specifically, ACAP serves as a
Aboelmaged and Hashem (2019) in their research with Egyptian SMEs; complementary mediator. Higher levels of ICT adoption increase OI
Jasimuddin and Naqshbandi’s (2019) findings with French firms, and directly but also increase ACAP, which in turn leads to OI. Hence, some
the results of Wu et al. (2021)with Chinese firms, who demonstrated that of ICT adoption’s effect on OI is explained by ACAP. Therefore, ICT
ACAP influences in a significant manner a firm’s open innovation. adoption has a total positive and significant effect of (β = 0.709, p <
In relation to the H4, the empirical evidence shows that OI has a 0.001) on OI.
positive and significant influence on firm performance (β = 0.444, p < In the same vein, when evaluating the magnitude of the indirect
0.001). Therefore, H4 is supported, since OI significantly impacts in effect applying the Variance Accounted For (VAF) formula, an explained
44.4% in the firm performance, and according to the Cohen (1988) test, variance of 0.568 was obtained, so it can be concluded that the ACAP in
it has a medium effect, since a value off 2 = 0.246 has been obtained, this research played the role of mediating variable in ICT adoption, since

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H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

Table 4
Mediated effects of ACAP to OI.
Variable Direct effects on OI 95% CI Bias Corrected t-value Indirect effects on OI 95% CI Bias Corrected t-value

ACAP 0.589 [0.443, 0.783] 6.101 NA NA NA

ICT adoption 0.306 [0.088, 0.491] 3.359 0.403ª [0.234, 0.611] 3.815

NOTE: The 95% bias-corrected bootstrap confidence intervals are performed where zero is not presented, thereby demonstrating the strength and magnitude of the
mediation.
ª Obtained from the effects of ICT adoption on ACAP (0.684) multiplied by the effects of ACAP on OI (0.589).
ICT adoption total effect on OI (β = 0.709, p < 0.001).
Source: Own contribution from results obtained with SmartPLS 3. Ringle et al. (2015).

56.8% of the effect of ICT adoption in OI is explained through the whether the size of the firm affects its ability and performance as Zhou
mediation of ACAP. In such a situation, Hair et al. (2014) point out that and Li (2010) mention, as well as, to know if the industry type affects
when the VAF > 20% and < 80%, then the effect of the mediation is firm performance. We performed the partial least squares multigroup
considered as a partial mediation (Hair et al., 2014), as demonstrated by analysis (PLS-MGA) and found that there are significant differences
the result of the VAF formula, therefore H5 is accepted. Therefore, our between micro-sized and small-sized firms, as can be seen in Table 6.
finding is consistent with those obtained by Wu et al. (2021) with Chi­ Besides, the outcomes indicate that the industry type did not signifi­
nese companies, and Jasimuddin and Naqshbandi (2019) in their study cantly influence firm performance, because there are not significant
with French SMEs. differences between industrial firms and services companies.
Indirect Effect (0.684*0.589)
VAF = = = 0.568 6. Discussion
Total Effect (0.684*0.589 + 0.306)
To obtain more information on the mediating effects, we further The results showed that the innovation activities that are carried out
assessed the significance of the mediating effect of OI on the relationship have effects on the performance of firms. In addition, the ability to ac­
between ICT adoption and firm performance, as well as, on the rela­ quire, assimilate, transform and exploit knowledge is important for
tionship between ACAP and firm performance. This analysis was con­ innovation activities, since, if absorptive capacity is present in the
ducted based on the path coefficients between the independent variables company, it will have direct and indirect effects on greater innovation.
(ICT adoption and ACAP) and mediating variable (OI), and between the On the other hand, the role of the adoption of new communication and
mediating variable (OI) and dependent variable (firm performance). information technology will favor the ability to process knowledge. The
Next, the magnitude of mediation was computed by multiplying the proposed global model composes a configuration of the resources and
standardized path coefficients as can be seen in Table 5. The outcomes capacities that are available to innovation, the right dimension of the
suggest that the positive impact of ICT adoption and ACAP on firm actions taken to exploit knowledge correctly will put internal and
performance are mediated by OI. Our results provide empirical support external information in a better adaptation of the innovation to the
for the mediating role of OI, because OI represents a mechanism that needs of the company. The literature has indicated that there is a need to
underlies the relationship between ICT adoption and firm performance. develop innovation to have a better business performance (Moretti &
ICT adoption leads to OI, and OI in turn leads to firm performance. This Biancardi, 2020; Zanjirchi et al., 2019). Therefore, it is essential that
finding confirms the results of Zou et al. (2018), who found that inno­ innovative companies develop the set of capabilities that allows them to
vation mediates the relationship between the ACAP and financial per­ offer innovative services both internally and externally. External con­
formance. On the other hand, OI represents a mechanism that underlies nections are also used for collaborative actions to channel the efforts of
the relationship between ACAP and firm performance. ACAP leads to OI, companies.
and OI in turn leads to firm performance. This outcome is similar to However, it has not been careful to establish the relationships that
Valdez-Juárez and Castillo-Vergara (2021) results, who found that OI encourage innovation. Our results manage, in this order, to encourage
mediates the relationship between technological capabilities and performance from primary aspects that trigger innovation. This
corporate performance of SMEs. approach establishes that for innovation to take place in an organiza­
tion, the viability of these activities must be increased. According to the
5. Mediated effects of OI to firm performance theoretical evidence, the results that our study reached that conclusion
(Jasimuddin & Naqshbandi, 2019; Wu et al., 2021). This increases the
Finally, when including the control variables in order to analyze possibilities of companies to impact performance with greater efficiency
by encouraging businesses to stimulate the identification, storage, pro­
cessing, analysis, distribution and exchange of information with internal
Table 5 or external actors of the organization (El-Haddadeh, 2020). One of the
Mediated effects of OI to firm performance. most relevant results of the analysis carried out is to confirm that the
Variable Indirect effects on Firm 95% CI Bias t- p- absorptive capacity of knowledge encourages companies to innovate
performance Corrected value value and, with this, favors their business performance.
ACAP 0.262b [0.172, 0.373] 4.830 0.000
This means that the actions developed by companies, such as
ICT 0.315c [0.227, 0.395] 7.280 0.000 increasing the management of intellectual capital and its transformation
adoption are critical to support the role of the tools used for communication. The
NOTE: The 95% bias-corrected bootstrap confidence intervals are performed results showed that the company’s position towards ICTs is relevant in
where zero is not presented, thereby demonstrating the strength and magnitude the activities of information exploitation. Several studies have
of the mediation. confirmed that the costs dedicated to reducing the uncertainty of
b
Obtained from the effects of ACAP on OI (0.589) multiplied by the effects of handling information such as digital services, online operations or in­
OI on Firm performance (0.444). formation systems are more robust and appropriate to the company.
c
Obtained from the total effects of ICT adoption on OI (0.709) multiplied by On the one hand, stakeholders face the correct implementation of the
the effects of OI on Firm performance (0.444). technology from a homogeneous, efficient, and effective exploitation, as
Source: Own contribution from results obtained with SmartPLS 3. Ringle et al. previously indicated (Adamides & Karacapilidis, 2020). On the other
(2015).

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Table 6
Multigroup analisys with PLS-MGA.
Path Relation Path Coefficient Micro-sized firms Path Coefficient Small-sized firms Path Coefficient Difference p-value
Micro vs. Small

ICT adoption → ACAP 0.640*** 0.713*** − 0.073 N.S. 0.727

ICT adoption → OI 0.460*** 0.115 N.S. 0.345** 0.047
ACAP → OI 0.433*** 0.780*** − 0.348** 0.038
OI → Firm performance 0.556*** 0.358*** 0.197** 0.044

Path Relation Path Coefficient Industrial firms Path Coefficient Services firms Path Coefficient Difference p-value
Industrial vs. Services

ICT adoption → ACAP 0.735*** 0.652*** 0.084 N.S. 0.602

ICT adoption → OI 0.184** 0.388*** − 0.204 N.S. 0.270
ACAP → OI 0.754*** 0.482*** 0.272 N.S. 0.093
OI → Firm performance 0.455*** 0.465*** − 0.011 N.S. 0.920

Significance: *** p < 0.001; **p < 0.05; N.S. = Non-significant.

Source: Own contribution from results obtained with SmartPLS 3. Ringle et al. (2015).

hand, it is interpreted that the results of the acquisition, assimilation, primary element to develop and implement OI with stability, value
transformation, and exploitation of knowledge favor the innovative creation and organizational strength (Brockman et al., 2018). These
ecosystem from the implementation of tools that manage the incoming results stand out for the practical implications of companies to be pre­
information, as well as what is learned by Huber et al. (2020). Some disposed to develop their capacities to take advantage of information,
authors suggested that ICTs have direct effects with OI (Benson, 2019; from our perspective, internally and externally. On the one hand, to
Wu et al., 2021). In this sense, several studies have confirmed this encourage employees to communicate with others and share knowledge
relationship, highlighting mainly the capacity of ICTs to store internal and, on the other hand, to reaffirm and guarantee that the knowledge
knowledge and facilitate access to external knowledge of the company that comes from outside the organization is exploited to increase OI. The
(Aloini et al., 2017; Wu et al., 2021). The results obtained on the dif­ results obtained in the mediating role of ACAP are evidence of the
ferences between micro and small companies are evidence of the con­ practical implications that absorptive skills have on the adoption of
ditions of the different levels of the industry. The demands on ICTs. When there is greater capacity to manage information, decision-
technological capabilities are different. Studies such as that of Zou et al. making is expedited, especially in particular cases when new products
(2018), have shown that the relationships of absorptive capacities, or forms of work have to be developed (Vlačić et al., 2019).
technology and innovation are different due to the characteristics that
they manifest (e.g., firm size and age). These findings are important to 7. Conclusions
understand the situation of both groups. While micro-businesses use
both ICTs and their absorptive capacity to develop innovation through 7.1. Main findings
incoming knowledge, small businesses recognize the value of informa­
tion and prepare it to exploit it. Our study analyzes the role of ICT and ACAP in the OI of companies.
This means that micro-sized firms are paying greater attention to the Previous studies have identified the factors that trigger OI (Adams et al.,
individual learning of their employees, which is used directly in their OI 2019; Behnam et al., 2018). Based on the previously consulted literature
activities. In addition, the micro-sized allows them to align their stra­ (Moretti & Biancardi, 2020; Zanjirchi et al., 2019), we consider that
tegies through rapid changes to increase the mobility of their operations, activities in IoT is the best way to predict business development. The
key aspects in OI. Moreover, the micro-sized allows ideas to be results supported with empirical evidence the relationship of the
communicated between departments, which facilitate the flow of in­ adoption of ICT and the ability to absorb information at the organiza­
formation to carry out innovation activities. On the other hand, small- tional level, implying better generation of new knowledge and devel­
sized companies understand that the best way to favor innovation eco­ opment of actions to use knowledge and make it latent in daily activities.
systems is through an adequate absorptive capacity management, where On the other hand, ICT activities were also significant and positive with
knowledge is first acquired and assimilated by their employees (poten­ OI activities since the technology used supports the processes and cre­
tial ACAP) to then be able to transform and exploit this knowledge into ates a positive environment for the exploitation of organizational
new ideas (realized ACAP) using ICTs, since the benefits are greater by knowledge. Although, the results also showed that it is necessary to have
taking advantage of the mediating role of ACAP in the relationship be­ capacities to facilitate the use of internal and external knowledge for
tween ICT adoption and OI. Besides, small-sized firms demonstrated innovation processes. Evidence was given of the influence that absorp­
having greater ICT capacity, which has supported their business stra­ tive capacity has on open innovation, to affirm that the adequate
tegies that strengthen customer service and let them improve process implementation of the tools available to transmit information in com­
management, which has resulted in a rapid flow of information that is panies benefits from the efforts made to develop the capacity to motivate
managed through ACAP to achieve greater benefits in OI and firm per­ and incentivize the organization to assert knowledge.
formance. For this resaon, the results indicated that ICT adoption direct
effect on OI does not apply to small-sized firms, only to micro-sized 7.2. Theoretical implications
companies. Therefore, when comparing these two groups of firms, the
hypothesis is partially supported. The results that supported the influence of the OI on business per­
Regarding the type of industry, since no significant differences were formance contribute to the theoretical discussion of this relationship
found, our findings confirm the results found by Liu et al. (2013) in their that promotes the consolidation of the sector. First, within the literature
research with Chinese firms, where the type of industry does not affect consulted on the analysis of the OI, the role of information is known as a
firm performance. primary factor to increase the dynamism of innovation activities, how­
Our hypothesis with the greatest contribution to the theoretical ever, the contribution of this study is to provide a specific way to the
discussion was to verify the role of ACAP as a mediating variable be­ theoretical discussion a model that supports the mediating effect of skills
tween ICT and OI. This direct and indirect effect of ACAP, positions the to assimilate external knowledge. Second, to take advantage of this
capacities to acquire, assimilate, transform and exploit knowledge as a convergence of the triad of human talent, technology and innovation to

20
H. Cuevas-Vargas et al. Journal of Business Research 140 (2022) 11–24

detonate the firm performance, proposes to build the concept of the OI in administration, Resources, Software, Supervision, Validation, Visuali­
technological and human elements that favor the success of the com­ zation, Writing – original draft, Writing – review & editing. Joao
pany. And, third, the discussion is directed towards the theoretical Aguirre: Conceptualization, Investigation, Visualization, Writing –
suggestion that the OI-Firm Performance relationship should be adjusted original draft. Neftalí Parga-Montoya: Conceptualization, Investiga­
in the components of the absorptive capacity that generate an adequate tion, Supervision, Visualization, Writing – original draft, Writing – re­
context of innovation. view & editing.

7.3. Managerial implications Declaration of Competing Interest

The mediating effects that turned out to be positive and significant The authors declare that they have no known competing financial
provide a perception that helps companies to make pertinent decisions interests or personal relationships that could have appeared to influence
to invest in potential capacities of the organizational strength to focus the work reported in this paper.
information on innovation ecosystem. In this way, both suppliers and
customers, even competitors, are part of the path of innovation by Appendix A. Supplementary material
making companies operate under a collaborative effort focused on joint
and coordinated growth. Therefore, decision makers in organizations Supplementary data to this article can be found online at https://doi.
should pay special attention to the implementation of technological org/10.1016/j.jbusres.2021.11.058.
communication tools and the capacities that enhance their effect which
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Héctor Cuevas-Vargas is a Research Professor of the Bachelor’s degree program on
contribution of cluster agency in the development of biotech open innovation
Business Innovation and Marketing at the Universidad Tecnológica del Suroeste de Gua­
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Monterrey (EGADE Business School) and a PhD in Administrative Sciences with the
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mention Summa Cum Laude from the Universidad Autónoma de Aguascalientes (UAA).
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Distinction of National Researcher by National Council of Science and Technology at
21(4), 931–951. https://doi.org/10.1287/orsc.1090.0503
Mexico (2020-2022). Professor of post-graduation courses at Instituto de Estudios Supe­
Wetzels, M., Odekerken-Schröder, G., & van Oppen, C. (2009). Using PLS path modeling
riores del Bajio (UNITESBA). Author of several publications on competitiveness, innova­
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tion, information and communication technologies, and entrepreneurship.
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Wu, S., Ding, X., Liu, R., & Gao, H. (2021). How does IT capability affect open innovation Master’s degree in Management Engineering from the Nacional University of Colombia
performance? The mediating effect of absorptive capacity. European Journal of and Doctorate degree in Engineering from the Nacional University of Colombia. He has
Innovation Management, 24(1), 43–65. https://doi.org/10.1108/EJIM-02-2019-0043 worked as a consultant, advisor, lecturer, researcher, project leader and business manager.
Wynarczyk, P., Piperopoulos, P., & McAdam, M. (2013). Open innovation in small and
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Neftalí Parga-Montoya is a Research Professor at the Universidad Autónoma de Aguas­
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calientes. He has a Master’s degree in Business Administration Science from the Instituto
Zahra, S. A., & George, G. (2002). Absorptive capacity: A review, reconceptualization,
Tecnológico de Aguascalientes and Doctorate degree in Administrative Sciences from the
and extension. The Academy of Management Review, 27(2), 185–203. https://doi.org/
Universidad Autónoma de Aguascalientes (UAA). He concentrates in studies of Entrepre­
10.2307/4134351
neurship, Networks and Institutional Theory in Agribusiness.
Zanjirchi, S. M., Jalilian, N., & Shahmohamadi Mehrjardi, M. (2019). Open innovation:
From technology exploitation to creation of superior performance. Asia Pacific

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