The purpose of this paper is to focus on how investments in research and development (R&D) and advertising affect the performance of small- and medium-sized enterprises (SMEs) during recessions. Empirical results confirm that market share and leverage moderate the effects of investments in R&D and advertising (i.e. intangibles) on performance, and also that changes in business models are an important contingent factor that explains performance. Specifically, the paper ascertains that a novelty-centered business model, together with investments in intangibles, positively affects performance during recessions.
How small-medium enterprises leverage intangibles during recessions. Evidence from the Italian clothing industry / Cucculelli, Marco; Cristina, Bettinelli; Angelo, Renoldi. - In: MANAGEMENT DECISION. - ISSN 0025-1747. - STAMPA. - 52:8(2014), pp. 1491-1515. [10.1108/MD-01-2014-0034]
How small-medium enterprises leverage intangibles during recessions. Evidence from the Italian clothing industry
CUCCULELLI, MARCO;
2014-01-01
Abstract
The purpose of this paper is to focus on how investments in research and development (R&D) and advertising affect the performance of small- and medium-sized enterprises (SMEs) during recessions. Empirical results confirm that market share and leverage moderate the effects of investments in R&D and advertising (i.e. intangibles) on performance, and also that changes in business models are an important contingent factor that explains performance. Specifically, the paper ascertains that a novelty-centered business model, together with investments in intangibles, positively affects performance during recessions.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
