Determinants of Innovation Commercialization Management and Anticipated Returns: An Exploratory Typology of SMEs
Journal
International Journal of Innovation and Technology Management
ISSN
0219-8770
Type
journal article
Date Issued
2014-07-22
Author(s)
Abstract
This paper explores the effects of firm characteristics on the commercialization management and anticipated innovation returns within small- and medium-sized enterprises (SMEs). Our results suggest that young and small firms tend to be more innovative and have higher expectation for anticipated returns despite their less systematic management. By contrast, medium-sized firms are more likely to formalize their management, yet they have lower anticipated returns. Small equity-financed firms tend to approach a more systematic management of commercialization and anticipate high returns. Mature firms pursue a less systematic approach and anticipate lower returns. Overall, our findings show that firm characteristics such as size, age, R&D level, type of financing, innovation novelty and protection of intellectual properties play a significant role in the commercialization process. Employing an updated typology, this study provides additional insights into the firms' commercialization management and sheds some light on the owner-managers' anticipated returns from innovation.
Language
English
Keywords
Innovation
commercialization management
rent
SMEs
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
World Scientific Publishing
Publisher place
Singapore
Volume
11
Number
6
Start page
1
Subject(s)
Division(s)
Eprints ID
233647