Competition from informal firms and product innovation in EU candidate countries: A bounded rationality approach (CROSBI ID 297106)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Miočević, Dario ; Arslanagić-Kalajdžić, Maja ; Kadić-Maglajlić, Selma
engleski
Competition from informal firms and product innovation in EU candidate countries: A bounded rationality approach
This study extends the literature that has investigated firms' readiness to confront competition from informal (unregistered) firms by responding through intensified product innovation activities. Drawing on the bounded rationality perspective, we unravel new insights into the relationship between the threat from informal competitors and product innovation by identifying two external contingencies (intellectual property rights protection and regulatory quality) and two internal contingencies (export intensity and top manager's sector experience). In this way, the study acknowledges the immense differences that exist across developing markets, focusing on post- communist societies characterized with a medium level of economic development, limited market size, and weak institutional development. An empirical prototype of this type of context is exemplified in EU candidate countries. Therefore, our model estimates the effect of the threat from informal competitors on product innovation by testing firm-level data from five countries with EU candidate status. Our findings show that direct and positive relationship between the threat from informal competitors and product innovation is strengthened when: 1) intellectual property rights protection is weaker, 2) regulatory quality is higher, 3) the firm is an intensive exporter, and 4) the firm's top managers have less experience.
informal Competition ; Regulatory quality ; Rule of law ; Export intensity ; Top management experience ; Product innovation
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Podaci o izdanju
110 (2)
2022.
102365
10
objavljeno
0166-4972
1879-2383
10.1016/j.technovation.2021.102365
Povezanost rada
Ekonomija