Startups' innovation processes and performance in the food industry: a stochastic frontier analysis
| Autor: | Elena Candelo, Mario Sorrentino, Diego Matricano |
|---|---|
| Přispěvatelé: | Matricano, Diego, Candelo, E., Sorrentino, M. |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Innovative start-ups
Food industry R&Dinvestments Qualified scientists and engineers Patents Stochastic frontier analysis Food industry business.industry Stochastic frontier analysis 05 social sciences Qualified scientists and engineers Start up Innovative start-ups R&Dinvestments 0502 economics and business Economics Business Management and Accounting (miscellaneous) 050211 marketing business 050203 business & management Industrial organization Patents Food Science |
| Popis: | PurposeThe food industry has always been supplier dominated, characterised by low research intensity, product line extensions and me-too products. However, recent changes have led new firms operating in the food industry to invest in research and development (R&D) activities in order to introduce innovations into the market and achieve superior performance. This paper aims to verify whether these changes are noteworthy by investigating whether and which innovation-related factors (investments in R&D activities, qualified scientists/engineers and holding a patent) can affect the performance of food start-ups.Design/methodology/approachA sample of 108 innovative start-ups operating in the food industry in Italy was selected, and a stochastic frontier analysis was carried out. This methodology was chosen because of the factorisation of the error term, which is divided into a unilateral component (revealing the inefficiency of the statistical model) and a symmetric component (revealing random gaps).FindingsStatistical elaborations provide two interesting results. One concerns the error term (only random inefficiency affects results) and the other relates to innovation-related factors. Only investments in R&D activities positively affect the performance of innovative start-ups in the Italian food industry.Originality/valueResults confirm the relevance of investments in R&D activities for Italian start-ups aiming to achieve superior performance in the food industry. These results confirm relevant changes are occurring in what was a supplier-dominated industry and disclose how start-ups should master the dynamics of innovation and allow for speculation on future industry trends. |
| Databáze: | OpenAIRE |
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