A1 Journal article (refereed)
Innovations and Growth : Evidence from Finnish SMEs (2019)
Tohmo, T., & Storhammar, E. (2019). Innovations and Growth : Evidence from Finnish SMEs. Journal of Enterprising Culture, 27(03), 229-257. https://doi.org/10.1142/S0218495819500092
JYU authors or editors
Publication details
All authors or editors: Tohmo, Timo; Storhammar, Esa
Journal or series: Journal of Enterprising Culture
ISSN: 0218-4958
eISSN: 1793-6330
Publication year: 2019
Volume: 27
Issue number: 03
Pages range: 229-257
Publisher: World Scientific Publishing Co. Pte. Ltd.
Publication country: Singapore
Publication language: English
DOI: https://doi.org/10.1142/S0218495819500092
Publication open access: Not open
Publication channel open access:
Abstract
The purpose of this study is to clarify the factors that affect the ability of small and medium-sized enterprises (SMEs) to create innovations that promote firm growth. Studies regarding the relationship between research intensity and growth have typically produced mixed results, revealing a modest or non-existent influence of innovations on sales growth. These studies have typically used patents as indicators of innovation. We directly asked firms whether their innovations had affected their growth, and we regressed the results over several variables, covering a wide range of dimensions related to (1) personal factors, (2) firm-related factors (including questions that reflect a firm’s innovation strategies), and (3) regional factors. Our analyses of Finnish SMEs revealed that trust, innovation activities and networking are essential components of firms’ ability to create innovations that contribute to high firm growth. A multinomial logistic regression analysis also provided support for the assumption that age, technological level and firm location affect firm performance.
Keywords: innovations; growth; small and medium-sized enterprises
Free keywords: innovation; growth; SMEs
Contributing organizations
Ministry reporting: Yes
VIRTA submission year: 2019
JUFO rating: 1
