Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study

Eduardo Antonio Chang-Muñoz, Andrés Felipe Guarín-García, Yuneidis Charris-Sevilla, José Fernando Gallego-Nicholls, Cristina Santos-Rojo () and Arturo Ortigosa-Blanch
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Eduardo Antonio Chang-Muñoz: Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia
Andrés Felipe Guarín-García: Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia
Yuneidis Charris-Sevilla: Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia
José Fernando Gallego-Nicholls: Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain
Cristina Santos-Rojo: Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain
Arturo Ortigosa-Blanch: Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain

Sustainability, 2023, vol. 15, issue 8, 1-15

Abstract: In the current competitive context, innovation has become a necessity, to the point that it seems that no company can survive without developing innovation processes. One of the great concerns of small and medium-sized companies is about the investment of resources in innovation activities and their success. Therefore, this article analyzes the influence of different innovation activities performed by small and medium-sized enterprises (SMEs) of the Colombian Caribbean region on their product innovation outcomes and thereby provides a solid groundwork for the design of innovation strategies. To achieve this objective, a data collection instrument was first validated in 56 SMEs, followed by the application of a reflective measurement model with convergent validity analysis. The results of the model application revealed that investment in Research and Development (R&D) and innovation, knowledge transfer, technology adoption, and financial aspects explain to a greater extent the introduction of new products to the market.

Keywords: product innovation; PLS-SEM; small and medium-sized enterprises (SMEs); innovation activities; competitive advantage (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:8:p:6459-:d:1120481

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