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The Influence of Financial Sourcing and Collaboration on Innovative Company Performance: A Comparison of Czech, Slovak, Estonian, Lithuanian, Romanian, Croatian, Slovenian, and Hungarian Case Studies

In: Knowledge Spillovers in Regional Innovation Systems

Author

Listed:
  • Viktor Prokop

    (University of Pardubice)

  • Jan Stejskal

    (University of Pardubice)

  • Petr Hajek

    (University of Pardubice)

Abstract

Many authors emphasize that regions are key elements and political tools for economic growth and that regional competitiveness significantly shapes entrepreneurial behavior, and also say, that high-tech firms choose their location based on their assessment of regional competitiveness (productivity, innovations) and that highly innovative firms settle in highly competitive regions. Scholars analyze the knowledge spillovers and their impact on firms’ productivity, demand and successful implementation of product and process innovations. Other scholars suggest that for economic growth promotion it is necessary to take actions to support the creation and dissemination of knowledge, to support research and development activities, investment in appropriate infrastructure and communication technology. Therefore, the significance of innovation is today more and more frequently emphasized as a key engine for regional growth, standard of living and international competitiveness. The goal of this chapter is to provide an analysis and evaluate the influence of selected drivers—determinants of the knowledge economy on the selected output—turnover from innovated production and provide some practical implications for policy makers not only in selected countries. The analysis will be conducted by using a multiple linear regression models constructed by the authors. Results show that determinants of innovation activities vary across countries and, separately, influence innovation activities less than in combination with each other. These findings confirm previous studies on the general shift towards a knowledge economy and the importance of factors such as knowledge, innovation and cooperation with different partners that allow the creation of synergies and spillover effects.

Suggested Citation

  • Viktor Prokop & Jan Stejskal & Petr Hajek, 2018. "The Influence of Financial Sourcing and Collaboration on Innovative Company Performance: A Comparison of Czech, Slovak, Estonian, Lithuanian, Romanian, Croatian, Slovenian, and Hungarian Case Studies," Advances in Spatial Science, in: Jan Stejskal & Petr Hajek & Oto Hudec (ed.), Knowledge Spillovers in Regional Innovation Systems, pages 219-252, Springer.
    • Handle: RePEc:spr:adspcp:978-3-319-67029-4_8
    DOI: 10.1007/978-3-319-67029-4_8
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    Citations

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    Cited by:

    1. Dvouletý Ondřej & Čadil Jan & Mirošník Karel, 2019. "Do Firms Supported by Credit Guarantee Schemes Report Better Financial Results 2 Years After the End of Intervention?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 19(1), pages 1-20, January.
    2. Michaela Kotkova Striteska & Viktor Prokop, 2020. "Dynamic Innovation Strategy Model in Practice of Innovation Leaders and Followers in CEE Countries—A Prerequisite for Building Innovative Ecosystems," Sustainability, MDPI, vol. 12(9), pages 1-20, May.
    3. Solomon Gyamfi & Yee Yee Sein, 2021. "Determinants of Sustainable Open Innovations—A Firm-Level Capacity Analysis," Sustainability, MDPI, vol. 13(16), pages 1-17, August.

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