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An Investigation of Spanish SME Innovation during Different Economic Conditions

Author

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  • Antonia Madrid‐guijarro
  • Domingo García‐pérez‐de‐lema
  • Howard Van auken

Abstract

This study investigates product, process, and management innovation among a sample of Spanish manufacturing small and medium‐sized enterprises (SMEs) during the current economic downturn and a period of economic growth. Tobit analyses examined whether the level of process, product, and management innovation changed during the recessionary period relative to the expansionary period; and MCO estimations were used to show whether the recession affected the relationship between SME innovation and performance. Three main findings are: (1) innovation among Spanish manufacturing SMEs declined during the recent economic crisis; (2) the type of innovation at Spanish manufacturing SMEs changed during different economic conditions; and (3) innovation was positively associated with firm performance during the economic expansion and recession years. The results demonstrate the importance of adopting innovation into SME strategy over the business cycle. The findings have relevance to SMEs, government policymakers, and providers of consulting services.

Suggested Citation

  • Antonia Madrid‐guijarro & Domingo García‐pérez‐de‐lema & Howard Van auken, 2013. "An Investigation of Spanish SME Innovation during Different Economic Conditions," Journal of Small Business Management, Taylor & Francis Journals, vol. 51(4), pages 578-601, October.
    • Handle: RePEc:taf:ujbmxx:v:51:y:2013:i:4:p:578-601
    DOI: 10.1111/jsbm.12004
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    Cited by:

    1. Alfonso Expósito & Amparo Sanchis-Llopis & Juan A. Sanchis-Llopis, 2023. "CEO gender and SMEs innovativeness: evidence for Spanish businesses," International Entrepreneurship and Management Journal, Springer, vol. 19(3), pages 1017-1054, September.
    2. Alfonso Expósito & Juan A. Amparo Sanchis-Llopis & Juan A. Juan A. Sanchis-Llopis, 2023. "Does entrepreneur gender matter in SMEs performance? The role of innovations," Working Papers 2308, Department of Applied Economics II, Universidad de Valencia.
    3. Luis Javier Garcia-Martinez & Sascha Kraus & Matthias Breier & Andreas Kallmuenzer, 2023. "Untangling the relationship between small and medium-sized enterprises and growth: a review of extant literature," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 455-479, June.

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