Impact of self-financing on the innovation of micro, small and medium-sized colombian companies
Innovation is a dynamic capacity that generates sustainable competitive advantages and requires adequate financing for its development. The central objective of this paper is to determine and describe how the internal or self-financing influences on the innovation of micro, small and medium enterpri...
| Autores Principales: | , , |
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| Formato: | Artículo Revisado por Pares Académicos |
| Lenguaje: | Español (Spanish) Español (Spanish) |
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Universidad Libre
2019
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| Sumario: | Innovation is a dynamic capacity that generates sustainable competitive advantages and requires adequate financing for its development. The central objective of this paper is to determine and describe how the internal or self-financing influences on the innovation of micro, small and medium enterprises (MSMEs) in Colombia. For this, a study was carried out with 1201 organizations established in nine cities of the country. The descriptive results show that Colombian MSMEs primarily use their own resources for their investments, and the inferential results obtained through linear regressions indicate that self-financing influences positively and significantly their overall innovation, as well as that of their products / services, production processes and management. The findings of this research are important for employers and their associations, for academia and for public and private entities that promote economic and business development.
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