[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/wsi/ijimxx/v24y2019i02ns1363919620500176.html
   My bibliography  Save this article

Innovative Ecosystem In Enhancing Hi-Tech Sme Financing: Mediating Role Of Two Types Of Innovation Capabilities

Author

Listed:
  • HUA SONG

    (School of Business, Renmin University of China, Beijing, 100872, P. R. China)

  • SIJIE CHEN

    (School of Business, Renmin University of China, Beijing, 100872, P. R. China)

  • ANIRBAN GANGULY

    (Jindal Global Business School, O. P. Jindal Global University, Haryana 131001, India)

Abstract
With the development of technological innovation and global economic integration, high-tech enterprises across the world have formed numerous innovation ecosystems with similar natural ecological characteristics. As a result, competition has shifted from single enterprise to supply chain network, and ultimately, to innovation ecosystem, which involves more participants and roles across multiple industries. The current study distinguished two innovation capabilities (internal innovation potential and collaborative open innovation), and two sources of innovation capabilities (internal integration and external integration) along with discussing the specific relationships among integration activities, innovation capabilities, and Hi-tech SMEs’ financing performance. It further explored how interactions between within and cross firm-boundary activities and collaboration exert influence on SMEs’ financing performance and manifested the importance of external collaborative networks to the competitiveness of SMEs.

Suggested Citation

  • Hua Song & Sijie Chen & Anirban Ganguly, 2019. "Innovative Ecosystem In Enhancing Hi-Tech Sme Financing: Mediating Role Of Two Types Of Innovation Capabilities," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(02), pages 1-36, April.
    • Handle: RePEc:wsi:ijimxx:v:24:y:2019:i:02:n:s1363919620500176
    DOI: 10.1142/S1363919620500176
    as

    Download full text from publisher

    File URL: https://www.worldscientific.com/doi/abs/10.1142/S1363919620500176
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S1363919620500176?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ramana Nanda & William R. Kerr, 2015. "Financing Innovation," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 445-462, December.
    2. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    3. Mata, José & Woerter, Martin, 2013. "Risky innovation: The impact of internal and external R&D strategies upon the distribution of returns," Research Policy, Elsevier, vol. 42(2), pages 495-501.
    4. Berger, Allen N. & Udell, Gregory F., 2006. "A more complete conceptual framework for SME finance," Journal of Banking & Finance, Elsevier, vol. 30(11), pages 2945-2966, November.
    5. Stefania Cosci & Valentina Meliciani & Valentina Sabato, 2016. "Relationship lending and innovation: empirical evidence on a sample of European firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 25(4), pages 335-357, June.
    6. Ron Adner & Rahul Kapoor, 2016. "Innovation ecosystems and the pace of substitution: Re-examining technology S-curves," Strategic Management Journal, Wiley Blackwell, vol. 37(4), pages 625-648, April.
    7. Michael A. Hitt & Beverly B. Tyler, 1991. "Strategic decision models: Integrating different perspectives," Strategic Management Journal, Wiley Blackwell, vol. 12(5), pages 327-351, July.
    8. Hall, Bronwyn H. & Lerner, Josh, 2010. "The Financing of R&D and Innovation," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 609-639, Elsevier.
    9. Peter Egger & Christian Keuschnigg, 2015. "Innovation, Trade, and Finance," American Economic Journal: Microeconomics, American Economic Association, vol. 7(2), pages 121-157, May.
    10. James R. Brown & Steven M. Fazzari & Bruce C. Petersen, 2009. "Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom," Journal of Finance, American Finance Association, vol. 64(1), pages 151-185, February.
    11. repec:zbw:bofrdp:urn:nbn:fi:bof-201512141480 is not listed on IDEAS
    12. Sarstedt, Marko & Ringle, Christian M. & Smith, Donna & Reams, Russell & Hair, Joseph F., 2014. "Partial least squares structural equation modeling (PLS-SEM): A useful tool for family business researchers," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 105-115.
    13. Armstrong, J. Scott & Overton, Terry S., 1977. "Estimating Nonresponse Bias in Mail Surveys," MPRA Paper 81694, University Library of Munich, Germany.
    14. Ulrich Lichtenthaler & Eckhard Lichtenthaler, 2009. "A Capability‐Based Framework for Open Innovation: Complementing Absorptive Capacity," Journal of Management Studies, Wiley Blackwell, vol. 46(8), pages 1315-1338, December.
    15. Wuttke, David A. & Blome, Constantin & Henke, Michael, 2013. "Focusing the financial flow of supply chains: An empirical investigation of financial supply chain management," International Journal of Production Economics, Elsevier, vol. 145(2), pages 773-789.
    16. Hanna Hottenrott & Bettina Peters, 2012. "Innovative Capability and Financing Constraints for Innovation: More Money, More Innovation?," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 1126-1142, November.
    17. Peter M. Ralston & Jennifer Blackhurst & David E. Cantor & Michael R. Crum, 2015. "A Structure–Conduct–Performance Perspective of How Strategic Supply Chain Integration Affects Firm Performance," Journal of Supply Chain Management, Institute for Supply Management, vol. 51(2), pages 47-64, April.
    18. Ivashina, Victoria & Scharfstein, David, 2010. "Bank lending during the financial crisis of 2008," Journal of Financial Economics, Elsevier, vol. 97(3), pages 319-338, September.
    19. Barbara B. Flynn & Xenophon Koufteros & Guanyi Lu, 2016. "On Theory in Supply Chain Uncertainty and its Implications for Supply Chain Integration," Journal of Supply Chain Management, Institute for Supply Management, vol. 52(3), pages 3-27, July.
    20. Cornett, Marcia Millon & McNutt, Jamie John & Strahan, Philip E. & Tehranian, Hassan, 2011. "Liquidity risk management and credit supply in the financial crisis," Journal of Financial Economics, Elsevier, vol. 101(2), pages 297-312, August.
    21. Bougrain, Frederic & Haudeville, Bernard, 2002. "Innovation, collaboration and SMEs internal research capacities," Research Policy, Elsevier, vol. 31(5), pages 735-747, July.
    22. Yan, Tingting & Azadegan, Arash, 2017. "Comparing inter-organizational new product development strategies: Buy or ally; Supply-chain or non-supply-chain partners?," International Journal of Production Economics, Elsevier, vol. 183(PA), pages 21-38.
    23. Gann, David M. & Salter, Ammon J., 2000. "Innovation in project-based, service-enhanced firms: the construction of complex products and systems," Research Policy, Elsevier, vol. 29(7-8), pages 955-972, August.
    24. Ziliang Deng & Peter Hofman & Alexander Newman, 2013. "Ownership concentration and product innovation in Chinese private SMEs," Asia Pacific Journal of Management, Springer, vol. 30(3), pages 717-734, September.
    25. Mohammad H. Eslami & Nicolette Lakemond, 2016. "Internal Integration In Complex Collaborative Product Development Projects," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(01), pages 1-28, January.
    26. Dahlander, Linus & Gann, David M., 2010. "How open is innovation?," Research Policy, Elsevier, vol. 39(6), pages 699-709, July.
    27. Linda Niehm & Keila Tyner & Mack Shelley & Margaret Fitzgerald, 2010. "Technology Adoption in Small Family-Owned Businesses: Accessibility, Perceived Advantage, and Information Technology Literacy," Journal of Family and Economic Issues, Springer, vol. 31(4), pages 498-515, December.
    28. James J. Anton & Dennis A. Yao, 2002. "The Sale of Ideas: Strategic Disclosure, Property Rights, and Contracting," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 69(3), pages 513-531.
    29. Tina B. Aune & Espen Gressetvold, 2011. "Supplier Involvement In Innovation Processes: A Taxonomy," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 15(01), pages 121-143.
    30. Choi, Kanghwa & Narasimhan, Ram & Kim, Soo Wook, 2016. "Opening the technological innovation black box: The case of the electronics industry in Korea," European Journal of Operational Research, Elsevier, vol. 250(1), pages 192-203.
    31. repec:zbw:bofrdp:2015_028 is not listed on IDEAS
    32. Bronwyn H. Hall & Nathan Rosenberg (ed.), 2010. "Handbook of the Economics of Innovation," Handbook of the Economics of Innovation, Elsevier, edition 1, volume 1, number 1.
    33. Amy P. Hutton & Lian Fen Lee & Susan Z. Shu, 2012. "Do Managers Always Know Better? The Relative Accuracy of Management and Analyst Forecasts," Journal of Accounting Research, Wiley Blackwell, vol. 50(5), pages 1217-1244, December.
    34. Camerinelli, Enrico, 2009. "Supply chain finance," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 3(2), pages 114-128, April.
    35. Parente, Ronaldo C. & Baack, Daniel W. & Hahn, Eugene D., 2011. "The effect of supply chain integration, modular production, and cultural distance on new product development: A dynamic capabilities approach," Journal of International Management, Elsevier, vol. 17(4), pages 278-290.
    36. Kirsimarja Blomqvist & Juha Levy, 2006. "Collaboration capability – a focal concept in knowledge creation and collaborative innovation in networks," International Journal of Management Concepts and Philosophy, Inderscience Enterprises Ltd, vol. 2(1), pages 31-48.
    37. Robert M. Grant & Charles Baden‐Fuller, 2004. "A Knowledge Accessing Theory of Strategic Alliances," Journal of Management Studies, Wiley Blackwell, vol. 41(1), pages 61-84, January.
    38. Benn Lawson & Danny Samson, 2001. "Developing Innovation Capability In Organisations: A Dynamic Capabilities Approach," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 377-400.
    39. Erik Hofmann & Oliver Belin, 2011. "Supply Chain Finance Solutions," SpringerBriefs in Business, Springer, number 978-3-642-17566-4, January.
    40. WUTTKE, David A & BLOME, Constantin & HENKE, Michael, 2013. "Focusing the financial flow of supply chains: an empirical investigation of financial supply chain management," LIDAM Reprints CORE 2601, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    41. Bruce C. Skaggs & Mark Youndt, 2004. "Strategic positioning, human capital, and performance in service organizations: a customer interaction approach," Strategic Management Journal, Wiley Blackwell, vol. 25(1), pages 85-99, January.
    42. Jiehui Yang & Qinglan Han & Juanmei Zhou & Chunlin Yuan, 2015. "The Influence of Environmental Management Practices and Supply Chain Integration on Technological Innovation Performance—Evidence from China’s Manufacturing Industry," Sustainability, MDPI, vol. 7(11), pages 1-20, November.
    43. John E. Ettlie, 1995. "Product-Process Development Integration in Manufacturing," Management Science, INFORMS, vol. 41(7), pages 1224-1237, July.
    44. Yanmei Zhu & Xinhua Wittmann & Mike Peng, 2012. "Institution-based barriers to innovation in SMEs in China," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 1131-1142, December.
    45. Cédric Schneider & Reinhilde Veugelers, 2010. "On young highly innovative companies: why they matter and how (not) to policy support them," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(4), pages 969-1007, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Krzyzanowski, Jan & Walz, Uwe, 2021. "Bank regulation, lending and patenting: Evidence from the EBA capital exercise," SAFE Working Paper Series 330, Leibniz Institute for Financial Research SAFE.
    2. Giebel, Marek & Kraft, Kornelius, 2020. "Bank credit supply and firm innovation behavior in the financial crisis," Journal of Banking & Finance, Elsevier, vol. 121(C).
    3. Ross Brown & José M. Liñares-Zegarra & John O.S. Wilson, 2022. "Innovation and borrower discouragement in SMEs," Small Business Economics, Springer, vol. 59(4), pages 1489-1517, December.
    4. Mao, Yifei, 2021. "Managing innovation: The role of collateral," Journal of Accounting and Economics, Elsevier, vol. 72(1).
    5. Czarnitzki, Dirk & Giebel, Marek, 2021. "Financial constraints for R&D and innovation: New evidence from a survey experiment," ZEW Discussion Papers 21-084, ZEW - Leibniz Centre for European Economic Research.
    6. Décamps, Jean-Paul & Villeneuve, Stéphane, 2022. "Learning about profitability and dynamic cash management," Journal of Economic Theory, Elsevier, vol. 205(C).
    7. de Ridder, Maarten, 2016. "Investment in productivity and the long-run effect of financial crises on output," LSE Research Online Documents on Economics 86180, London School of Economics and Political Science, LSE Library.
    8. Demeulemeester, Sarah & Hottenrott, Hanna, 2015. "R&D subsidies and firms' cost of debt," DICE Discussion Papers 201, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    9. Zhang, Tiantian & Zhang, Cherry Yi & Pei, Qifan, 2019. "Misconception of providing supply chain finance: Its stabilising role," International Journal of Production Economics, Elsevier, vol. 213(C), pages 175-184.
    10. Milani, Sahar & Neumann, Rebecca, 2022. "R&D, patents, and financing constraints of the top global innovative firms," Journal of Economic Behavior & Organization, Elsevier, vol. 196(C), pages 546-567.
    11. Heller, David, 2024. "Financial market integration and the effects of financing constraints on innovation," Research Policy, Elsevier, vol. 53(4).
    12. Dai, Xiaoyong & Li, Yanchao & Chen, Kaihua, 2021. "Direct demand-pull and indirect certification effects of public procurement for innovation," Technovation, Elsevier, vol. 101(C).
    13. Pinget, Amandine, 2016. "Spécificités des déterminants des innovations environnementales : une approche appliquée aux PME [Specificities of determinants for environmental innovation : an approach applied to SMEs]," MPRA Paper 80108, University Library of Munich, Germany.
    14. Georgios Efthyvoulou & Priit Vahter, 2016. "Financial Constraints, Innovation Performance and Sectoral Disaggregation," Manchester School, University of Manchester, vol. 84(2), pages 125-158, March.
    15. Chakuu, Sumeer & Masi, Donato & Godsell, Janet, 2019. "Exploring the relationship between mechanisms, actors and instruments in supply chain finance: A systematic literature review," International Journal of Production Economics, Elsevier, vol. 216(C), pages 35-53.
    16. Shubin Yang & Chris Milner & Sandra Lancheros & Saileshsingh Gunessee, 2020. "Access to Finance, Technology Investments and Exporting Decisions of Indian Services Firms," Open Economies Review, Springer, vol. 31(5), pages 1009-1036, November.
    17. Pietro Santoleri & Andrea Mina & Alberto Di Minin & Irene Martelli, 2024. "The Causal Effects of R&D Grants: Evidence from a Regression Discontinuity," The Review of Economics and Statistics, MIT Press, vol. 106(6), pages 1495-1510, November.
    18. Jean Acheson & Rory Malone, 2020. "Respect Your Elders: Evidence from Ireland’s R&D Tax Credit Reform," The Economic and Social Review, Economic and Social Studies, vol. 51(1), pages 105-131.
    19. Hanna Hottenrott & Bronwyn H. Hall & Dirk Czarnitzki, 2016. "Patents as quality signals? The implications for financing constraints on R&D," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 25(3), pages 197-217, April.
    20. Maria Luisa Mancusi & Andrea Vezzulli, 2014. "R&D AND CREDIT RATIONING IN SMEs," Economic Inquiry, Western Economic Association International, vol. 52(3), pages 1153-1172, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ijimxx:v:24:y:2019:i:02:n:s1363919620500176. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/ijim/ijim.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.