The impact of formal and informal appropriability regimes on SME profitability in medium high-tech industries |
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Authors: | Lara Agostini Anna Nosella Benedetta Soranzo |
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Institution: | 1. Department of Management and Engineering, University of Padua, Stradella San Nicola 3, 36100 Vicenza, Italyagostini@gest.unipd.it;3. Department of Management and Engineering, University of Padua, Stradella San Nicola 3, 36100 Vicenza, Italy |
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Abstract: | Innovation is assuming increasing relevance in current economies, but being able to complete the innovation process is not enough for firms if they could not appropriate the value of their investments. Within this context, the aim of this paper is to understand whether SMEs may reap higher economic benefits while relying on formal regimes, in terms of patents, or informal ones in order to protect their innovations, which represents an under-investigated issue. On the basis of a panel regression and a cluster analysis on Italian SMEs, results suggest that firms relying more on informal mechanisms, in particular time-to-market and unique skills of employees, over patents, register superior performance. |
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Keywords: | innovation strategy patents SME clusters |
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