Innovation and business performance for Spanish SMEs: new evidence from a multi-dimensional approach
Alfonso Expósito and
Juan A. Sanchis-Llopis
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Alfonso Expósito: Department of Economic Analysis and Political Economy, University of Seville, Calle San Fernando 4, 41004 Sevilla (Spain).
Juan A. Sanchis-Llopis: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).
Authors registered in the RePEc Author Service: Juan A. Sanchis Llopis ()
No 1805, Working Papers from Department of Applied Economics II, Universidad de Valencia
This paper examines the impacts of product, process, and organisational innovations on two alternative dimensions of business performance: finance and operations. Two indicators capture financial performance: sales increase and production cost reduction. Operational firm performance is captured by two alternative indicators: productive capacity augmentation and quality improvement of product/service provided by the firm. Using a wide-ranging sample of Spanish SMEs, our findings highlight the existence of significant impacts of innovation on both these dimensions of business performance, although these impacts differ regarding the type of innovation and the performance indicator considered. Furthermore, our results indicate that the relationship between innovation choices in SMEs and business performance should be analysed from a multidimensional approach. These findings reveal significant implications for innovation policies and innovation strategies for SMEs.
Keywords: innovation; business performance; multi-dimensional analysis; SME; Spain (search for similar items in EconPapers)
JEL-codes: O32 L25 C25 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-com, nep-cse, nep-eff, nep-ent, nep-eur, nep-ino, nep-sbm and nep-tid
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