Innovation drivers of external competitiveness in the great recession

Emanuele Brancati, Raffaele Brancati, Dario Guarascio and Antonello Zanfei
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Raffaele Brancati: MET
Antonello Zanfei: University of Urbino ‘Carlo Bo’

Small Business Economics, 2022, vol. 58, issue 3, No 14, 1497-1516

Abstract: Abstract This paper explores the main drivers of firms’ external competitiveness in times of crisis. We focus on the aftermath of the Great Recession (2008–2015) and present evidence based on a comprehensive survey of Italian companies (the MET dataset). Overall, our results highlight not only the strict correlation between internationalization and innovative activities but also a positive change of attitude of Italian firms towards these strategies. We show that, while structural factors play a key role for external competitiveness, other critical aspects trigger superior performances, especially strategic profiles, technological capabilities, and proactive behaviors such as innovativeness and R&D investment. Importantly, we document disproportionate effects of innovation for smaller and less productive companies. This points at dynamic strategies as a potential tool to fill the gap between larger/more productive companies and the set of less structured firms, a segment representing an ideal target for policy measures.

Keywords: SMEs; Competitiveness; Internationalization; Innovation; R&D; D22; F00; O3; L26 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s11187-021-00453-0

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