Public funding as a catalyst for firms' technological innovation: Case of Cyprus, Croatia and Portugal

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F20%3A39916612" target="_blank" >RIV/00216275:25410/20:39916612 - isvavai.cz</a>

Result on the web

<a href="http://dx.doi.org/10.34190/IKM.20.071" target="_blank" >http://dx.doi.org/10.34190/IKM.20.071</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.34190/IKM.20.071" target="_blank" >10.34190/IKM.20.071</a>

Result language

angličtina

Original language name

Public funding as a catalyst for firms' technological innovation: Case of Cyprus, Croatia and Portugal

Original language description

The advent of the new growth theory has entrenched the need for public policies that accelerate and protect regional innovative growth. In line with this, national and supranational economies have been actively engaged in financial programs to support Small and Medium Scale enterprises (SMEs) in their quest for innovation and has been hailed as an effective gesture for expediting the growth of innovation in countries and even eliminating market failures. However, recent evidence seems to reveal that in some countries it has not always been the case as funding from public sector has either been shelved off to non-innovative ventures, not directly used for innovation or not even effective enough. Therefore, using logistic regression model and a combined data of 8,146 Small and Medium scale enterprises (SME&apos;s) from European Community Innovation Survey (2012-2014), the research seeks to assess the how public funding affects product, process and marketing innovation efforts in generating technological innovation represented by patents. For the purpose of the research, we pegged National and European funding as control variables. The results revealed that whilst product and process innovation efforts were effective at creating technological innovation for Croatia and Cyprus, both National and European public support provided had no significant influence on their product, process and marketing innovation efforts even though they were significant in creating technological innovation. However, it was found that in Portugal, another southern province, National and European support in accelerating their product, process and marketing efforts for innovation were strongly influential in the creation of technological innovation. Finally, policies for effective funds usage and public-private compilation were proposed in line with our findings.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50602 - Public administration

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2020

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of the 17th international conference on intellectual capital, knowledge management &amp;amp; organisational learning

ISBN

978-1-912764-72-3

ISSN

2048-9803

e-ISSN

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Number of pages

9

Pages from-to

28-36

Publisher name

Academic Conferences International Limited

Place of publication

Sonning Common

Event location

ONLINE

Event date

Oct 15, 2020

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

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