Configurations of strategic R&D decisions and financial performance in small-sized and medium-sized firms |
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| Institution: | 1. KU Leuven, Faculty of Economics and Business, Department of Management, Strategy, and Innovation, Warmoesberg 26, Brussels 1000, Belgium;2. Belgian Science Policy Office, Avenue Louise 231, Brussels 1050, Belgium;3. KU Leuven, Faculty of Economics and Business, Department of Management, Strategy, and Innovation, Warmoesberg 26, Brussels 1000, Belgium;1. College of Business, 11200 S.W. 8th Street, Florida International University, Miami, FL 33199, United States;2. School of Business, 1654 Naismith Drive, University of Kansas, Lawrence, KS 66045, United States;1. University of Paderborn, Marketing Department, Warburger Strasse 100, 33098 Paderborn, Germany;2. BOMAG GmbH, Hellerwald, 56154 Boppard, Germany;1. Salford Business School, University of Salford, Salford, Manchester M5 4WT, United Kingdom of Great Britain and Northern Ireland;2. Leeds University Business School, University of Leeds, Leeds LS2 9JT, United Kingdom of Great Britain and Northern Ireland;3. Leeds Business School, Leeds Beckett University, Leeds LS1 3HE, United Kingdom of Great Britain and Northern Ireland;4. Leicester Castle Business School, De Montfort University, Leicester LE1 9BH, United Kingdom of Great Britain and Northern Ireland |
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| Abstract: | This paper links the strategic decisions made in R&D during the financially turbulent period of 2009 to the firm's financial health in the period 2010–2013. The focus is on decisions made in R&D-active small and medium-sized enterprises in terms of absorptive capacity, open innovation, type of R&D, and the organizational structuring of R&D. Based on a representative set of R&D-active firms in Belgium, qualitative comparative analysis reveals that the outcomes in terms of financial performance related to optimal configurations of strategic R&D decisions depend on the firm's size and on the time-lag under consideration. Managers in small-sized firms are advised to pay particular attention to a more functionally-structured R&D approach in configurations of strategic R&D decisions. To increase medium-term financial performance, managers in medium-sized firms benefit from more engagement in research-oriented activities, more in-house innovation, and the enhancement of absorptive capacity in sets of strategic R&D decisions. |
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