Product innovation and firm performance in transition economies: A multi-stage estimation approach
| Autor: | Robert D. Hisrich, Veland Ramadani, Lejla Abazi-Bexheti, Laxman Panthi, Hyrije Abazi-Alili, Leo Paul Dana |
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| Rok vydání: | 2019 |
| Předmět: |
Estimation
Simultaneity Informal sector Product innovation 020209 energy 05 social sciences Control variable 02 engineering and technology Causality ComputingMilieux_GENERAL Competition (economics) Economy Management of Technology and Innovation Capital (economics) 0502 economics and business 0202 electrical engineering electronic engineering information engineering Economics Business and International Management 050203 business & management Applied Psychology |
| Zdroj: | Technological Forecasting and Social Change. 140:271-280 |
| ISSN: | 0040-1625 |
| DOI: | 10.1016/j.techfore.2018.12.010 |
| Popis: | Using Business Environment Enterprise Performance Surveys (BEEPS), this paper provides a multistage empirical analysis of product innovation and firm performance in transition economies (TEs). The Crepon-Duguet-Mairesse (CDM) model, a four-stage approach, is used to investigate the innovation-performance relationship. The multistage model allows studying the innovation activities of firms through multi-interrelated factors while controlling the issue of simultaneity and causality. The paper contributes to the research in this area by estimating the effect of innovation on performance through multistage equation modeling. It fills the gap in providing an understanding of factors that influence on product innovation - firm performance relationship in transition economies. This research is among the first to use product-only innovation to measure the impact of innovation on firms' performance. Findings indicate that product innovation has a positive impact on firm performance in transition economies, complemented by significant impact of specific control variables such as size, total labor cost, capital of the firm. Whereas age and competition from the informal sector, have a negative and significant effect on performance. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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