Abstract
In this study we examine the innovation efforts, accelerated internationalization, and relational triggers of companies in Latin American countries. It is the first time a study jointly and empirically assesses the perception of the seriousness of institutional obstacles and innovation efforts, considering as a unit of analysis a large number of firms from Latin American countries. We used a database from the World Bank (Environment Surveys) with 14,064 companies from 20 countries in Latin America, which answered questions related to their innovation efforts from 2006 to 2018. Introduction of new or significantly improved products and processes and investments in research and development (R&D) had the greatest validity and quality power in factor analysis performed for the construct “innovation efforts.” We observed positive patterns of correlation between age, size, perception of the seriousness of institutional obstacles and innovation efforts. The results contribute to the structuring of professionalization, expansion, and maturation programs for Latin American businesses.
Highlights
Firms’ internal and external aspects align with economic progress and is a critical factor for innovative companies susceptible to current global issues, which involve interdependence, expectations of greater dynamics, internationalization, and synergy between stakeholders Dau (2012)
We put the variables through a validation process, through which we evaluated the following: (a) the dimensionality, veri ied by the criterion of the parallel lines; (b) reliability, veri ied when the indicators Cronbach’s Alpha (CA) and composite reliability (CR) (Chin, 1998) present values greater than .70, or values greater than 0.60, in the case of exploratory research Hair et al (2009); and (c) the adequacy of the sample to the model, using the Kaiser-Meyer-Olkin (KMO) indicator, which veri ies the proportion of variance in the data common to all variables
According to the classi ication of the World Bank’s Enterprise Survey, we found that most companies were small (5 to 19 workers) (39.1%) and medium-sized (20 to 99 workers) (36.4%), representing 75.50% of the total sample, that is 10,621 companies, out of a total 14,064
Summary
Firms’ internal and external aspects align with economic progress and is a critical factor for innovative companies susceptible to current global issues, which involve interdependence, expectations of greater dynamics, internationalization, and synergy between stakeholders Dau (2012). It is necessary to adopt innovation efforts related to the irm’s resources, to address these new global trends which include new products, processes, and investment in research and development (R&D) Dau (2013). Innovation efforts are recognized as an essential and mandatory condition for competitiveness and business longevity, enabling the establishment of. How to cite this article (APA): Santos, A. Innovation efforts of companies in latin american countries. International Journal of Research - GRANTHAALAYAH, 9(7), 100-121.
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