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Determinants of innovation commercialization management and anticipated returns: an exploratory typology of SMEs

Determinants of innovation commercialization management and anticipated returns: an exploratory typology of SMEs
Determinants of innovation commercialization management and anticipated returns: an exploratory typology of SMEs
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.
Do, Thuy Hang
98fe3248-9673-4c6a-8f9a-74cf68a59930
Do, Thuy Hang
98fe3248-9673-4c6a-8f9a-74cf68a59930

Do, Thuy Hang (2014) Determinants of innovation commercialization management and anticipated returns: an exploratory typology of SMEs. International Journal of Innovation and Technology Management, 11 (6), [1450042]. (doi:10.1142/S0219877014500424).

Record type: Article

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.

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Accepted/In Press date: 6 August 2013
Published date: 22 July 2014

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Local EPrints ID: 437387
URI: http://eprints.soton.ac.uk/id/eprint/437387
PURE UUID: 544b8675-9d91-4685-b076-a49a69762018

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Date deposited: 29 Jan 2020 17:32
Last modified: 29 Jan 2020 17:32

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Author: Thuy Hang Do

University divisions

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