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Implementation of innovations in enterprises using the EU funds: A comparative analysis

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  • Piątkowski, Marcin J.

Abstract

The European Union sees the role of innovations as measurably influencing the improvement of social and economic development in the regions of its member states. Actions that promote the implementation of innovations in the SME sector as one of the elements having a positive impact on the European Union's cohesion policy have a special role in supporting enterprises. Therefore, the EU operational programmes dedicated to small and medium-sized enterprises are a valuable source of external financing for innovations in these entities. The implementation of innovative investment projects positively influences the development of enterprises. A company resistant to implementing innovations may lose its competitive position on the market and slow down its development. The aim of this article is to conduct a comparative analysis of the implementation of innovative investments between the enterprises that received financial assistance from the European Union in relation to the enterprises that implemented innovations using other sources of financing. The study shows that enterprises covered by financial support from operational programmes have a higher level of innovative investments than other economic entities. Companies receiving EU aid are more often implementing production innovations among all four types of innovations as compared to other enterprises. In addition, it was found that in the lack of financial support from the EU, almost half of the companies would not be able to implement innovations as such. Therefore, the issue of innovations implemented in enterprises with the use of the EU financial aid should be considered as a currently relevant topic and an extremely important one from the standpoint of entrepreneurship development. This study should be considered unique, as there are no studies, to the best of the author's knowledge, containing comparative analyses in this area.

Suggested Citation

  • Piątkowski, Marcin J., 2020. "Implementation of innovations in enterprises using the EU funds: A comparative analysis," MPRA Paper 101883, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:101883
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    References listed on IDEAS

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    1. Niels Bosma & Veronique Schutjens, 2007. "Patterns Of Promising Entrepreneurial Activity In European Regions," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 98(5), pages 675-686, December.
    2. André Stel & Martin Carree & Roy Thurik, 2005. "The Effect of Entrepreneurial Activity on National Economic Growth," Small Business Economics, Springer, vol. 24(3), pages 311-321, February.
    3. Ali Farazmand, 2004. "Innovation in Strategic Human Resource Management: Building Capacity in the Age of Globalization," Public Organization Review, Springer, vol. 4(1), pages 3-24, March.
    4. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, December.
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    Cited by:

    1. Zuzana Virglerova & Eva Ivanova & Jan Dvorsky & Jaroslav Belas & Tomáš Krulický, 2021. "Selected factors of internationalisation and their impact on the SME perception of the market risk," Oeconomia Copernicana, Institute of Economic Research, vol. 12(4), pages 1011-1032, December.
    2. Mehmet Civelek & Aleksandr Kljucnikov & Vendula Fialova & Andrea Folvarcna & Milan Stoch, 2021. "How innovativeness of family-owned SMEs differ depending on their characteristics?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(2), pages 413-428, June.

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    More about this item

    Keywords

    implementing innovation; investments; enterprises; entrepreneurship; SMEs; EU subsidies; operational programmes; Poland; Małopolska region; comparative analysis; competitive advantage; financial support;
    All these keywords.

    JEL classification:

    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other

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