Barriers to Innovations and Innovative Performance of Companies

A Study from Ecuador

Bibliographic Data

ID5936005
AuthorsOrly Carvache-Franco (0000-0002-3108-9410, Universidad Católica de Santiago de Guayaquil), Mauricio Carvache-Franco (0000-0003-3639-9263, Universidad de Especialidades Espíritu Santo), Wilmer Carvache-Franco (0000-0001-5420-1092, Escuela Superior Politecnica del Litoral, corresponding author)
Year2022
Volume11
Issue2
Pages63
Publication date2022-02-08
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueSocial Sciences (JOURNAL)
Journal identifiersISSN: 2076-0760 • E-ISSN: 2076-0760
PublisherMDPI AG (PUBLISHER • IT)
DOI10.3390/socsci11020063
OpenAlexW4211200279
LanguageEN
Citations received4
References cited51

This research aimed to examine the relationship between the barriers to the development of innovation and innovative performance. This is a quantitative, not experimental, cross-sectional research, and the National Survey of Innovation Activities of Ecuador is used. Bivariate Probit regression was used to process the data. The results show empirical evidence that Ecuadorian companies have a great number of barriers to innovation. The main barriers to product innovation and process innovation are as follows: lack of company funds, high costs of innovation, and lack of qualified personnel in the company and the country. In addition product innovation is affected by the lack of market information, and process innovation is affected by the lack of financing from external sources, lack of information on technology, and a market dominated by established companies. The research has theoretical implications because it contributes empirical evidence on the relationship between innovation barriers and innovative performance in developing countries where evidence is scarce. The research has practical implications because it serves as a basis for forming public policies. Business managers and administrators can improve innovative performance by minimizing the impact of the main barriers to innovation

Business · Economics · Empirical evidence · Empirical research · Industrial organization · Innovation Management · Multivariate probit model · New product development · Process (computing · Product (mathematics · Product innovation · Survey data collection · Innovation and Knowledge Management · Innovation and Socioeconomic Development · Intellectual Capital and Performance Analysis · Marketing