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Growth dynamics of dedicated biotechnology firms in transition economies. Evidence from the Baltic countries and Poland

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  • Stéphane Malo
  • Jesper Norus†

Abstract

Countries undergoing the difficult transition from state ownership to market economies have characteristics which are often portrayed by scholars as adverse to the development of SMEs. Others nonetheless suggest that the performance of such firms can be positively influenced by business strategies. To develop a better understanding of the relation between these two seemingly different standpoints, this paper investigates the effects of (1) human capital ; (2) administration system for start-ups ; (3) financial capital ; and (4) intellectual property rights on the emerging biotechnology industry in Estonia, Latvia, Lithuania and Poland and considers the strategic response of two highly successful dedicated biotechnology firms (DBFs): Bioton in Poland and Fermentas in Lithuania. The results suggest that the decision to implement an internationalization strategy (and alliances with foreign partners) in association with the production of low cost, high quality products can drive the growth dynamics of SMEs.

Suggested Citation

  • Stéphane Malo & Jesper Norus†, 2009. "Growth dynamics of dedicated biotechnology firms in transition economies. Evidence from the Baltic countries and Poland," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 21(5-6), pages 481-502, September.
    • Handle: RePEc:taf:entreg:v:21:y:2009:i:5-6:p:481-502
    DOI: 10.1080/08985620802332749
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    Cited by:

    1. Hessels, Jolanda & Parker, Simon C., 2013. "Constraints, internationalization and growth: A cross-country analysis of European SMEs," Journal of World Business, Elsevier, vol. 48(1), pages 137-148.
    2. Fenghua Pan & Bofei Yang, 2019. "Financial development and the geographies of startup cities: evidence from China," Small Business Economics, Springer, vol. 52(3), pages 743-758, March.
    3. Alireza AZIMI, 2013. "Identification of External Critical Success Factors in Microbial Biotechnology Firms," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 21-26.
    4. Elena-Mădălina Vătămănescu & Andreea Mitan & Paul Claudiu Cotîrleț & Andreia Gabriela Andrei, 2022. "Exploring the Mediating Role of Knowledge Sharing between Informal Business Networks and Organizational Performance: An Insight into SMEs Internationalization in CEE," Sustainability, MDPI, vol. 14(7), pages 1-15, March.
    5. Ipsmiller, Edith & Dikova, Desislava, 2021. "Internationalization from Central and Eastern Europe: A systematic literature review," Journal of International Management, Elsevier, vol. 27(4).
    6. Kiss, Andreea N. & Danis, Wade M. & Cavusgil, S. Tamer, 2012. "International entrepreneurship research in emerging economies: A critical review and research agenda," Journal of Business Venturing, Elsevier, vol. 27(2), pages 266-290.

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