Abstract
Innovation activities are a critical factor in national and regional development. The innovative behaviour of companies is one of the main sources of competitiveness, business survival, economic growth and employment in a territory. It is therefore important to identify and understand the factors that determine innovation behaviour among enterprises. In line with this, the aim of this study is to analyse the relations between innovation-related variables and the impact that they have on company performance. The research model proposed is applied to two high-tech sectors of the Italian region of Lazio to verify its validity. The examination concerns the aerospace and biotech sectors, which are characterized by strong innovative activity.
Highlights
The globalization of markets and the development of information technologies has led to a shift in enterprise business from a form of competition based on physical assets to one based on intangible assets and knowledge [1,2]
The enterprises attribute little importance to external financing. This result is due to the fact that the sample consists primarily of sector are more numerous but generally smaller (SMEs), which are companies that experience greater difficulty in gaining access to credit and, do not have confidence in future potential financing. The exception to this trend is presented by the companies in the aerospace sector, for which the most important means of financing is seen as public funding, from the national level and ‐ above all ‐ from the European Community level
Italy’s slow pace in innovative activity compared with other industrialized nations reflects the fragmentation of the productive system among many small enterprises that have difficulty in sustaining the high costs of R&D and in assuming risk [81]
Summary
The globalization of markets and the development of information technologies has led to a shift in enterprise business from a form of competition based on physical assets to one based on intangible assets and knowledge [1,2]. In this complex context, innovative behaviour becomes a fundamental requisite for companies to remain competitive in the market. The aerospace sector in Lazio is characterized by the presence of large companies that operate at the global level, with a strong concentration in the area of Rome [8]. The final section briefly summarizes this research and its findings and offers considerations for policy implications
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