مقاله انگلیسی رایگان در مورد فعالیت های نوآوری شرکت های کوچک و متوسط و رشد آنها – اسپرینگر 2018

Introduction

As knowledge-based economies highlight the importance of innovation and advanced knowledge and skills, many firms have been engaging in innovation activities to achieve high performance (Audretsch et al. 2014; Coad and Rao 2008; Coad et al. 2016; Colombelli et al. 2013; Del Monte and Papagni 2003; Garcı´a-Manjo´n and Romero-Merino 2012). Innovation activities are the primary driving forces for sustainable growth because innovation helps firms achieve superior performance by developing new products or processes (Roper et al. 2008; Teece 1986; Wang and Thornhill 2010), and absorptive capacity, a byproduct of innovation activity, helps firms commercialize new information and knowledge (Bellucci and Pennacchio 2015; Cohen and Levinthal 1990; Wang and Thornhill 2010). One important effect of innovation is to deter the entry of new firms by creating entry barriers (Lukach et al. 2007; Phillips 1971), and this clearly reduces market competition (Del Monte and Papagni 2003; Phillips 1971). Therefore, firms aim to achieve a competitive advantage through innovation activities. However, converting innovative activities into firm performance takes considerable time and resources, and many difficulties arise in overcoming uncertainty at every stage of the innovation process (Coad and Rao 2008). The effect of innovation activities on firm growth often depends on specific unobservable factors (Audretsch et al. 2014; Garcı´aManjo´n and Romero-Merino 2012), and there is a lack of understanding of the relationship between innovation activities and the expected future performance of a firm. Specifically, scholars have yet to examine the underlying mechanism linking firms’ innovation activities, firm growth, and research and development (R&D) investment growth based on a comprehensive perspective. Although previous literature has revealed the importance of innovation for firm growth (Coad and Rao 2008; Colombelli et al. 2013), it has not explored the mechanism connecting innovation activities with R&D investment through firm growth. It is unclear where firms should invest for their growth, although one potentially important channel for investment is R&D, a critical input to innovation and growth in knowledge-based economies (Brown et al. 2009). Moreover, although R&D investment is important for sustainable growth, it appears to be a double-edged sword (Coad et al. 2016): the uncertainty and long payback period of innovation activities might reduce firm growth, and this concern can eventually lead firms to discourage investment in R&D. While numerous government-level studies have been conducted on topics such as R&D subsidies and fiscal treatments, firm-level studies on investment in R&D are still lacking (Coad and Rao 2010). In addition, given that small and medium-sized enterprises (SMEs) have been gradually expanding their role in the national economy, the differences between SMEs and large companies in terms of innovation activities and growth outcomes have not received enough academic attention. Examining the complicated relationship between innovation activities and firm growth is important not only to scholars but also to managers and investors who have to allocate their limited resources to firms’ R&D (Oriani and Sobrero 2008).