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The research presented in this paper explores the effect of inbound, outbound and coupled open innovation practices on firms' performances in the biopharmaceutical industry. Specifically, although existing researches on open innovation effectiveness have separately investigated the effect of open innovation practices on innovation and financial performance, this study evaluates the concurrent effect of these practices on both such performance dimensions in a single framework. We state thedoi:10.1504/ijtm.2016.075152 fatcat:xmwi3fsqifhe7pojn3ep5g67rq