TRIPLE HELIX noms.pmd

We construct a set of dependent variables measuring the extent to which firms assess ‘cost-related’, ‘market related’ and‘knowledge related’ barriers as important, and we examine the impact of the expected attenuating factors on these three typesof obstacles. We systematically compare the results for the two samples of firms mentioned above. We run Ordered LogisticRegressions due to the ordered categorical features of our dependent variables, controlling for a number of firm and industryfeatures, such as: whether the company has engaged in innovative activities in the past, the internationalisation of the firm’scustomer base and industrial sector dummies.Results and emerging conclusionsOur findings show that: a) both firm size and being part of a larger group have an attenuating effect on deterring and revealedbarriers; b) start ups face stronger revealed barriers as compared to established companies; c) a highly skilled workforce has asignificant impact in attenuating deterring barriers but not in attenuating revealed ones; and d) having received public financialsupport to innovation in the past significantly attenuates cost-related deterring barriers.These findings provide a valuable contribution to improve our understanding of the factors that mitigate systemic failures toinnovation, so long as they shed new light on the factors that attenuate “entry barriers” to innovation. This research alsocontributes to the study of barriers to innovation suggesting a method to disentangle the deterring and revealed nature ofobstacles to innovation.References- Christensen, C.M., Bower, J.L. 1996. Customer power, strategic investment and the failure of leading firms. StrategicManagement Journal 17, 197-218.- D’Este, P., Iammarino, S., Savona, M., von Tunzelmann, N. 2008. Barriers to Innovation: Evidence from the UK CommunityInnovation Survey. SPRU Electronic Working Paper Series.- Henderson, R. 1993. Underinvestment and incompetence as responses to radical innovation: evidence from thephotolithographic alignment equipment industry. Rand Journal of Economics 24: 248-70.- Katila, R., Shane, S. 2005. When does lack of resources make new firms innovative? Academy of Management Journal 48(5), 814-29.- Savignac, F. 2008. Impact of financial constraints on innovation: what can be learned from a direct measure? Economics ofInnovation and New Technology 17 (6): 553-569.- Tripsas, M. 1997. Unravelling the process of creative destruction: complementary assets and incumbent survival in thetypesetter industry. Strategic Management Journal, Summer Special Issue 18, 119-42.Madrid, October 20, 21 & 22 - 201063