Exploring SMEs’ innovation investment strategy to increase innovation output in economic crises

This study explores SMEs' innovation investment strategy by assessing their innovation investment level and the relative innovation investment effort during crises. The relative effort is measured by the positive values of the difference between the innovation investment made for the SME and th...

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Bibliographic Details
Published in:Journal of engineering and technology management 2024-04, Vol.72, p.101816, Article 101816
Main Authors: Garrido-Prada, Pablo, Romero-Jordán, Desiderio, Delgado-Rodríguez, María Jesús
Format: Article
Language:English
Subjects:
Economic crisis
Innovation investment strategy
Multistage model
Product innovation output
SMEs
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Summary:This study explores SMEs' innovation investment strategy by assessing their innovation investment level and the relative innovation investment effort during crises. The relative effort is measured by the positive values of the difference between the innovation investment made for the SME and that expected considering its external and internal characteristics. This study adopts a sequential multistage approach with a Spanish SME panel. The results show the relevance of the relative effort for generating product innovations during crises. Furthermore, the relative effort is significant above a level of innovation investment which reconciles the results of previous studies.
ISSN:0923-4748
DOI:10.1016/j.jengtecman.2024.101816