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________________________________________________________________________ PART 2: ARTICLES ________________________________________________________________________ I Heimonen, T. (2012). What are the factors that affect innovation in growing SMEs? European Journal of Innovation Management, Vol. 15, Issue 1, pp. 122-144. This article is © Emerald Group Publishing and permission has been granted for this version to appear here (www.emeraldinsight.com). Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald group Publishing Limited.
WHICH FACTORS AFFECT THE INNOVATIVENESS OF GROWING SMEs? Abstract Purpose – The purpose of this paper is to find out which factors affect the innovativeness of growing small and medium- sized firms (SMEs). Intellectual property rights (IPRs) are used as a proxy for innovations. The IPRs used include patents, trademarks, utility models and registered designs. Design/methodology/approach – A theoretical model was developed and tested on longitudinal sample data consisting of 348 continuously growing SMEs that were located in two diverse regions in Finland. The firms in the sample represented various industries. Logistic regression analysis was used to analyse the data. Findings – About 8%of the firms in the sample could be defined as innovative growth SMEs. Most of these firms belong to the branches of services and manufacturing. These businesses are small in size, employing 10-49 people, and their age range is 5–19 years. These firms are less likely to be successful in the short run. The results of the study seem to respond to the expected preconception that IPR-intensive growth firms may confront more financial pressures than those without IPRs. Public R&D funding seems to increase the probability of innovations. Practical implications – From the policy perspective the allocation of resources to R&D has been an appropriate strategy to increase the amount of IPRs within growth SMEs. Originality/value – The paper is one of the few attempts to explore the factors affecting the innovativeness of growing SMEs. Keywords – IPRs, growth, success, location, R&D funding, Finland Paper type – Research paper 1. Introduction In entrepreneurship and management studies the innovativeness of growing firms has been discovered to be important in value and job creation (Acs et al., 2008; Autio, 2009; Autio and Hoeltzl, 2008; Bhide, 2000; Birch, 1979; Delmar et al., 2003; Deschryvere, 2008; Henrekson and Johansson, 2008; Parker et al., 2010; Storey, 1994). It is stated that innovations do not arise randomly but are the results of intentional and systematic processes (Barringer et al., 2005; Teece, 1986; Markides, 1998; Santarelli and Piergiovanni, 1996; Thornhill, 2006; von Hippel, 1982). The capability to create, transfer and exploit innovations is thought to have a positive impact in different regions and economies (Fontes, 1997; Kuratko and Hodgetts, 2001; North and Smallbone, 2000; Storey, 1994). The main idea behind these studies is that innovativeness and growth are positively correlated. There is a lack of studies that have examined simultaneous innovativeness and growth longidutinally. It is a widely accepted view that urban areas have higher performance and more original innovations than pheriperal regions. Some empirical studies have shown that the operation environment of the firm moderates the relationship between sales growth rate and executives’
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Aalto University publication series
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Author Tomi Heimonen Name of the do
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Acknowledgements This dissertation
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CONTENTS PART 1: Overview of the di
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List of Articles This thesis is bas
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1 Introduction Some scholars claim
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1 Introduction In addition, the dur
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1 Introduction Figure 1: Framework
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1 Introduction factors that affect
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1 Introduction 1.4 Key concepts and
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2 Literature review and conceptual
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3 Research methodology Constructivi
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Page 58 and 59: 4 Results, evaluation of the studie
Page 70 and 71: References Abetti, P. A. (2001). Ac
Page 72 and 73: References Bhide, A. (2000). The or
Page 74 and 75: References Creswell, J. W. (2003).
Page 76 and 77: References Golafshani, N. (2003). U
Page 78 and 79: References Leitch, C., Hill, F., an
Page 80 and 81: References Pellikka, J. and Laurone
Page 82 and 83: References Storper, M. (1992). The
Page 84 and 85: Appendixes Overview: Appendix 1: Ke
Page 86 and 87: Appendixes High growth When examini
Page 88 and 89: Appendixes profitability, liquidity
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Page 92 and 93: Appendixes Appendix 2 Construction
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Page 96 and 97: not increased compared to Eastern F
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Page 104 and 105: firm’s annual sales growth (Arund
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Page 116 and 117: Table 2. Logistic Regression analys
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Page 120 and 121: References Achtenhagen, L., Naldi,
Page 122 and 123: Kanter, R. (1985), “Supporting in
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392 Int. J. Entrepreneurial Venturi
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398 J. Siikonen et al. determinants
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404 J. Siikonen et al. 4 Results 4.
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