dissertation in pdf-format - Aalto-yliopisto

4 Results, evaluation of the studies and concluding remarks
population of firms that were growing in Helsinki region and Eastern
Finland in 2002-2005. Thus, comparing the results with those of studies of
sets of firms that included declining firms is not straightforward.
Furthermore, the definitions of key concepts (innovation, high growth and
high success) applied may limit international comparison of the results.
These limitations could be avoided in future studies by using larger national
and comparative international research samples and acknowledging the
methodological problems of defining and measuring innovation, growth
and success of SMEs in diverse contexts.
Both limitations and strengths of the mixed method approach include the
diverse research scope it allows. A broader set of behavioural, management
and innovation activity issues could be included in future studies of the
selected (and other) SMEs. While strategic behaviour and management
issues were explored to some extent in the case studies, several neglected
aspects may also influence innovation, growth and success. These include:
open innovations, diverse business models, corporate governance,
institutional influences, dynamic capabilities and knowledge systems, all of
which should be included in future studies.
Finally, it should be noted that the limitations of the study should be seen
in the context of prior understanding and theory related to the addressed
research questions. As Bygrave (2006) pointed out, entrepreneurship
research is still an emerging paradigm, there are few relevant theoretical
models, and more empirically derived models and theories of
entrepreneurship are required. Indeed, some aspects of the field are still in
a pre-theory stage, despite the long history of discussion focused on these
themes independently in economics. Therefore, design quality,
interpretative rigour and legitimation should be examined, as components
of validity in mixed method research, in relation to existing theoretical
understanding and empirical research (Edmunson and McManus, pp. 1156,
2007).
4.4 Avenues for future research
Several possible avenues for future research could be elaborated. The
concepts of combined views of innovation, high growth and high success
could be developed further by focusing on specific branches of industries
and/or using larger samples and international comparative data.
Methodological aspects and data will continue to be important in future
studies. Longitudinal data provide opportunities for time series analysis
and analysis of business changes, development paths and tracks of ventures
and their entrepreneurs. More in-depth information is needed on firms’
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