Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs

Journal of Business Venturing

Volumn 26, Issue 4, 2011, Pages 441-457

  Rosenbusch, Nina ^a   Brinckmann, Jan ^b   Bausch, Andreas ^a  

^a FRIEDRICH SCHILLER UNIVERSITY JENA   (Germany)

^b ESADE BUSINESS SCHOOL   (Spain)

Author keywords

Firm performance; Innovation; Meta analysis; New ventures; SME

Indexed keywords

EID: 79955643181     PISSN: 08839026     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbusvent.2009.12.002     Document Type: Article

References (194)

1. Acs Z.J., Audretsch D.B. Innovation in large and small firms: an empirical analysis. American Economic Review 1988, 78(4):678-690.
2. Akgün A.E., Keskin H., Byrne J.C., Aren S. Emotional and learning capability and their impact on product innovativeness and firm performance. Technovation 2007, 27(9):501-513.
3. Amit R., Schoemaker P.J.H. Strategic assets and organizational rent. Strategic Management Journal 1993, 14(1):33-46.
4. Andrews A.O. The people/performance balance in IPO firms: the effect of the chief executive officer's financial orientation. Entrepreneurship - Theory and Practice 2000, 25(1):93-106.
5. Anokhin S., Schulze W.S. Entrepreneurship, innovation, and corruption. Journal of Business Venturing 2009, 24(5):465-476.
6. Arndt O., Sternberg R. Do manufacturing firms profit from intraregional innovation linkages? An empirical based answer. European Planning Studies 2000, 8(4):465-485.
7. Bausch A., Pils F., Wilhelm A. Meta-analysis in strategic management research: on evidence-based management. Hunter/Schmidt, and Hedges/Olkin, Strategic Management Society Annual International Conference. Cologne, Germany 2008.
8. Belderbos R., Carree M., Lokshin B. Cooperative R&D and firm performance. Research Policy 2004, 33(10):1477-1492.
9. Berggren E., Nacher T. Introducing new products can be hazardous to your company: use the right new-solutions delivery tools. Academy of Management Executive 2001, 15(3):92-101.
10. Birley S., Westhead P. Growth and performance contrasts between 'types' of small firms. Strategic Management Journal 1990, 11(7):535-557.
11. Block Z., MacMillan I. Corporate Venturing 1993, Harvard Business Press, Cambridge, MA.
12. Branzei O., Vertinsky I. Strategic pathways to product innovation capabilities in SMEs. Journal of Business Venturing 2006, 21(1):75-105.
13. Brinckmann J., Grichnik D., Kapsa D. Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning-performance relationship in small firms. Journal of Business Venturing 2010, 25(1):24-40.
14. Brouwer E., Kleinknecht A. Innovative output, and a firm's propensity to patent. An exploration of CIS micro data. Research Policy 1999, 28(6):615-624.
15. Bruderl J., Schussler R. Organizational mortality: the liabilities of newness and adolescence. Administrative Science Quarterly 1990, 35(3):530-547.
16. Brush C.G., Vanderwerf P.A. A comparison of methods and sources for obtaining estimates of new venture performance. Journal of Business Venturing 1992, 7(2):157-170.
17. Camison-Zornosa C., Lapiedra-Alcami R., Segarra-Ciprés M., Boronat-Navarro M. A meta-analysis of innovation and organizational size. Organization Studies 2004, 25(3):331-361.
18. Chandler G.N., Hanks S.H. Market attractiveness, resource-based capabilities, venture strategies, and venture performance. Journal of Business Venturing 1994, 9(4):331-349.
19. Cheung S.F., Chan D.K.S. Dependent effect sizes in meta-analysis: incorporating the degree of interdependence. Journal of Applied Psychology 2004, 89(5):780-791.
20. Christensen C.M., Bower J.L. Customer power, strategic investment, and the failure of leading firms. Strategic Management Journal 1996, 17(3):197-218.
21. Christensen C.M., Raynor M.E. The Innovator's Solutions: Creating and Sustaining Successful Growth 2003, Harvard Business School Publishing, Boston, MA.
22. Cohen W.M., Levinthal D.A. Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly 1990, 35(1):128-152.
23. Combs J.G., Crook T.R., Shook C. The dimensionality of organizational performance and its implications for strategic management research. Research Methodology in Strategy and Management: 259-286 2005, Elsevier, San Diego, CA. D. Ketchen, D. Bergh (Eds.).
24. Couto J.P., Vieira J.C. National culture and research and development activities. Multinational Business Review 2004, 12(1):19-35.
25. Covin J.G., Slevin D.P. Strategic management of small firms in hostile and benign environments. Strategic Management Journal 1989, 10(1):75-87.
26. Covin J.G., Slevin D.P., Covin T.J. Content and performance of growth-seeking strategies: a comparison of small firms in high-and low-technology industries. Journal of Business Venturing 1990, 5(6):391-402.
27. Crawford C.M. New product failure rates - facts and fallacies. Research Management 1987, 22(5):9-13.
28. Dai O., Liu X. Returnee entrepreneurs and firm performance in Chinese high-technology industries. International Business Review 2009, 18(4):373-386.
29. Dailey R.C. The role of team and task characteristics in R&D team collaborative problem solving and productivity. Management Science 1978, 24(15):1579-1588.
30. Dalton D.R., Daily C.M., Ellstrand A.E., Johnson J.L. Meta-analytic reviews of board composition, leadership structure, and financial performance. Strategic Management Journal 1998, 19(3):269-290.
31. Damanpour F. Organizational innovation: a meta-analysis of effects of determinants and moderators. Academy of Management Journal 1991, 34(3):555-590.
32. Damanpour F., Szabat K.A., Evan W.M. The relationship between types of innovation and organizational performance. Journal of Management Studies 1989, 26(6):587-602.
33. Daniel F., Lohrke F.T., Fornaciari C.J., Turner R.A. Slack resources and firm performance: a meta-analysis. Journal of Business Research 2004, 57(6):565-574.
34. Danneels E. The dynamics of product innovation and firm competences. Strategic Management Journal 2002, 23(12):1095-1121.
35. Danneels E., Kleinschmidt E. Product innovativeness from the firm's perspective: its dimensions and their relation with project selection and performance. Journal of Product Innovation Management 2001, 18(6):357-373.
36. Davidsson P. Researching Entrepreneurship 2004, Springer, Boston, MA.
37. DeCarolis D.M. Competencies and imitability in the pharmaceutical industry: an analysis of their relationship with firm performance. Journal of Management 2003, 29:27-50.
38. DeCarolis D.M., Deeds D.L. The impact of stocks and flows of organizational knowledge on firm performance: an empirical investigation of the biotechnology industry. Strategic Management Journal 1999, 20(10):953-968.
39. Deeds D.L. The role of R&D intensity, technical development and absorptive capacity in creating entrepreneurial wealth in high technology start-ups. Journal of Engineering and Technology Management 2001, 18(1):29-47.
40. Deeds D.L., Decarolis D. The impact of firm-specific capabilities on the amount of capital raised in an initial public. Journal of Business Venturing 1997, 12(1):31-46.
41. Deeds D.L., DeCarolis D., Coombs J.E. Firm-specific resources and wealth creation in high-technology ventures: evidence from newly public biotechnology firms. Entrepreneurship: Theory & Practice 1998, 22(3):55-73.
42. Dess G.G., Robinson R.B. Measuring organizational performance in the absence of objective measures: the case of the privately-held firm and conglomerate business unit. Strategic Management Journal 1984, 5(3):265-273.
43. Dess G.G., Lumpkin G.T., Covin J.G. Entrepreneurial strategy making and firm performance: tests of contingency and configurational models. Strategic Management Journal 1997, 18(9):677-695.
44. Dewar R.D., Dutton J.E. The adoption of radical and incremental innovations: an empirical analysis. Management Science 1986, 32(11):1422-1433.
45. Dowling M.J., McGee J.E. Business and technology strategies and new venture performance: a study of the telecommunications equipment industry. Management Science 1994, 40(12):1663-1667.
46. Downs G.W., Mohr L.B. Conceptual issues in the study of innovation. Administrative Science Quarterly 1976, 21(4):700-714.
47. Dröge C., Roger C., Nukhet H. New product success: is it really controllable by managers in highly turbulent environments?. Journal of Product Innovation Management 2008, 25(3):272-286.
48. Durand R., Coeurderoy R. Age, order of entry, strategic orientation, and organizational performance. Journal of Business Venturing 2001, 16(5):471-494.
49. Dwyer S., Mesak H., Hsu M. An exploratory examination of the influence of national culture on cross-national product diffusion. Journal of International Marketing 2005, 13(2):1-27.
50. Eby L.T., Dobbins G.H. Collectivistic orientation in teams: an individual and group-level analysis. Journal of Organizational Behavior 1997, 18(3):275-295.
51. Eddleston K.A., Kellermanns F.W., Sarathy R. Resource configuration in family firms: linking resources, strategic planning and technological opportunities to performance. Journal of Management Studies 2008, 45(1):26-50.
52. Edelman L.F., Brush C.G., Manolova T. Co-alignment in the resource-performance relationship: strategy as mediator. Journal of Business Venturing 2005, 20(3):359-383.
53. Edmondson A.C., Nembhard I.M. Product development and learning in project teams: the challenges are the benefits. Journal of Product Innovation Management 2009, 26(2):123-138.
54. Eisenhardt K.M., Martin J.A. Dynamic capabilities: what are they?. Strategic Management Journal 2000, 21(10/11):1105-1121.
55. Eisenhardt K.M., Schoonhoven C.B. Resource-based view of strategic alliance formation: strategic and social effects in entrepreneurial firms. Organization Science 1996, 7(2):136-150.
56. Ensley M.D., Pearson A.W., Amason A.C. Understanding the dynamics of new venture top management teams: cohesion, conflict, and new venture performance. Journal of Business Venturing 2002, 17(4):365-386.
57. Finkelstein L.M., Burke M.J., Raju N.S. Age discrimination in simulated employment contexts: an integrative analysis. Journal of Applied Psychology 1995, 80(6):652-663.
58. Freeman J., Carroll G.R., Hannan M.T. The liability of newness: age dependence in organizational death rates. American Sociological Review 1983, 48(5):692-710.
59. Galunic D.C., Rodan S. Resource recombinations in the firm: knowledge structures and the potential for Schumpeterian innovation. Strategic Management Journal 1998, 19(12):1193-1201.
60. Garcia-Morales V.J., Lloréns-Montes F.J., Verdú-Jover A.J. Influence of personal mastery on organizational performance through organizational learning and innovation in large firms and SMEs. Technovation 2007, 27(9):547-568.
61. Gibbons P.T., O'Connor T. Strategic posture, technology strategy and performance among small firms. Journal of Enterprising Culture 2003, 11(2):131-146.
62. Glass G. Primary, secondary and meta-analysis of research. Educational Research 1976, 5:3-8.
63. Gopalakrishnan S. Unraveling the links between dimensions of innovation and organizational performance. Journal of High Technology Management Research 2000, 11(1):137-153.
64. Grant R.M. Toward a knowledge-based theory of the firm. Strategic Management Journal 1996, 17:109-122. (Winter Special Issue).
65. Guo R.-J., Baruch L., Zhou N. The valuation of biotech IPOs. Journal of Accounting, Auditing & Finance 2005, 20(4):423-459.
66. Hage J. Theories of organizations: form, process, and transformation 1980, John Wiley & Sons, New York, NY.
67. Han M., Celly N. Strategic ambidexterity and performance in international new ventures. Canadian Journal of Administrative Sciences 2008, 25(4):335-349.
68. Heeley M.B., Matusik S.F., Jain N. Innovation, appropiability, and the underpricing of initial public offerings. Academy of Management Journal 2007, 50(1):209-225.
69. Hegarty W.H., Hoffman R.C. Product/market innovations: a study of top management involvement among four cultures. Journal of Product Innovation Management 1990, 7(3):186-199.
70. Henderson A.D. Firm strategy and age dependence: a contingent view of the liabilities of newness, adolescence, and obsolescence. Administrative Science Quarterly 1999, 44(2):281-314.
71. Herbig P. The Innovation Matrix: Culture and Structure, Prerequisites to Innovation 1994, Quorum Books.
72. Herbig P.A., Miller J.C. Culture and technology: does the traffic move in both directions. Journal of Global Marketing 1992, 6(3):75-104.
73. Heunks F.J. Innovation, creativity and success. Small Business Economics 1998, 10(3):263-272.
74. Hill C.W.L., Rothaermel F.T. The performance of incumbent firms in the face of radical technological innovation. Academy of Management Review 2003, 28(2):257-274.
75. Hoegl M., Parboteeah K.P., Gemuenden H.G. When teamwork really matters: task innovativeness as a moderator of the teamwork-performance relationship in software development projects. Journal of Engineering and Technology Management 2003, 20:281-302.
76. Hofstede G. Culture's Consequences: International Differences in Work-related Values 1980, Sage, Newbury Park, CA.
77. Howell J.M., Shea C.M., Higgins C.A. Champions of product innovations: defining, developing, and validating a measure of champion behavior. Journal of Business Venturing 2005, 20(5):641-661.
78. Hultink E.J., Atuahene-Gima K. The effect of sales force adoption on new product selling performance. Journal of Product Innovation Management 2000, 17(6):435-450.
79. Hunter J.E., Schmidt F.L. Methods of meta-analysis: correcting error and bias in research findings 2004, Sage Publications, Thousand Oaks, CA.
80. Hunter J.E., Schmidt F.L., Jackson G.B. Meta-analysis: cumulating research findings across studies 1982, Sage, Beverly Hills, CA.
81. Jarillo J.C. Entrepreneurship and growth: the strategic use of external resources. Journal of Business Venturing 1989, 4(2):133-147.
82. Jones G.K., Davis H.J. National culture and innovation: implications for locating global R&D operations. Management International Review (MIR) 2000, 40(1):11-39.
83. Junkunc M.T. Managing radical innovation: the importance of specialized knowledge in the biotech revolution. Journal of Business Venturing 2007, 22(3):388-411.
84. Kalafsky R.V., MacPherson A.D. The competitive characteristics of U.S. manufacturers in the machine tool industry. Small Business Economics 2002, 19(4):355-369.
85. Kedia B.L., Keller R.T., Julian S.D. Dimensions of national culture and the productivity of R&D units. Journal of High Technology Management Research 1992, 3:1-18.
86. Kelley D.J., Peters L., O'Connor G.C. Intra-organizational networking for innovation-based corporate entrepreneurship. Journal of Business Venturing 2009, 24(3):221-235.
87. Kemp R.G.M., Folkeringa M., de Jong J.P.J., Wubben E.F.M. Innovation and Firm Performance 2003, SCALES, Zoetemer.
88. Kim W.C., Maubourgne R. Blue ocean strategy 2005, Harvard Business School Press, Boston, MA.
89. Kishida R. An Analysis of New Venture Performance: Linking Product Innovation and Legitimation 2005, Case Western Reserve University.
90. Kleinknecht A., Van Montfort K., Brouwer E. The non-trivial choice between innovation indicators. Economics of Innovation & New Technology 2002, 11(2):109-121.
91. Knight F. Risk, Uncertainty and Profit 1921, Houghton-Mifflin, New York, NY.
92. Kohli A.K., Jaworski B.J. Market orientation: the construct, research propositions, and managerial implications. Journal of Marketing 1990, 54:1-18. April.
93. Kreiser P., Marino L., Weaver K.M. Assessing the relationship between entrepreneurial orientation, the external environment, and firm performance. Frontiers of Entrepreneurship Research 2000.
94. Lechler T. Social interaction: a determinant of entrepreneurial team venture success. Small Business Economics 2001, 16(4):263-278.
95. Lee S.M., Peterson S.J. Culture, entrepreneurial orientation, and global competitiveness. Journal of World Business 2000, 35(4):401-416.
96. Lee R.P., Chen Q. The immediate impact of new product introductions on stock price: the role of firm resources and size. Journal of Product Innovation Management 2009, 26(1):97-107.
97. Lee J., Habte-Giorgis B. Empirical approach to the sequential relationships between firm strategy, export activity, and performance in U.S. manufacturing firms. International Business Review 2004, 13(1):101-129.
98. Lee C., Lee K., Pennings J.M. Internal capabilities, external networks, and performance: a study on technology-based ventures. Strategic Management Journal 2001, 22(6-7):615-640.
99. Leonard-Barton D. Core capabilities and core rigidities: a paradox in managing new product development. Strategic Management Journal 1992, 13:111-125.
100. Li H. How does new venture strategy matter in the environment-performance relationship?. Journal of High Technology Management Research 2001, 12(2):183-204.
101. Li H., Atuahene-Gima K. Product innovation strategy and the performance of new technology ventures in China. Academy of Management Journal 2001, 44(6):1123-1134.
102. Li H., Atuahene-Gima K. The adoption of agency business activity, product innovation, and performance in Chinese technology ventures. Strategic Management Journal 2002, 23(6):469-490.
103. Lieberman M., Montgomery D. First-mover advantages. Strategic Management Journal 1988, 9:41-58.
104. Lin C.-H., Peng C.-H., Kao D.T. The innovativeness effect of market orientation and learning orientation on business performance. International Journal of Manpower 2008, 29(8):752-772.
105. Lipparini A., Sobrero M. The glue and the pieces: entrepreneurship and innovation in small-firm networks. Journal of Business Venturing 1994, 9(2):125-140.
106. Lipsey M.W., Wilson D.B. Practical Meta-analysis 2001, Sage Publications, Thousand Oaks, CA.
107. Lööf H., Heshmati A. On the relationship between innovation and performance: a sensitivity analysis. Economics of Innovation & New Technology 2006, 15(4/5):317-344.
108. Love J.H., Roper S., Du J. Innovation, ownership and profitability. International Journal of Industrial Organization 2009, 27(3):424-434.
109. Lumpkin G.T., Dess G.G. Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review 1996, 21(1):135-172.
110. Majchrzak A., Cooper L.P., Neece O.E. Knowledge reuse for innovation. Management Science 2004, 50(2):174-188.
111. Mansfield E. The speed and cost of industrial innovation in Japan and the United States: external vs. internal technology. Management Science 1988, 34(10):1157-1168.
112. Marinova D. Actualizing innovation effort: the impact of market knowledge diffusion in a dynamic system of competition. Journal of Marketing 2004, 68(3):1-20.
113. Mavondo F.T., Chimhanzi J., Stewart J. Learning orientation and market orientation: relationship with innovation, human resource practices and performance. European Journal of Marketing 2005, 39(11/12):1235-1263.
114. McClelland D.C. Characteristics of successful entrepreneurs. Journal of Creative Behavior 1987, 21(3):219-233.
115. McGee J.E., Dowling M.J., Megginson W.L. Cooperative strategy and new venture performance: the role of business strategy and management experience. Strategic Management Journal 1995, 16(7):565-580.
116. Miller D. The correlates of entrepreneurship in three types of firms. Management Science 1983, 29(7):770-791.
117. Miller D., Friesen P.H. Archetypes of strategy formulation. Management Science 1978, 24(9):921-933.
118. Mitchell R.K., Smith B., Seawright K.W., Morse E.A. Cross-cultural cognitions and the venture creation decision. Academy of Management Journal 2000, 43(5):974-993.
119. Morris M.H., Avila R.A., Allen J. Individualism and the modern corporation: implications for innovation and entrepreneurship. Journal of Management 1993, 19(3):595-612.
120. Mueller S.L., Thomas A.S. Culture and entrepreneurial potential: a nine country study of locus of control and innovativeness. Journal of Business Venturing 2001, 16(1):51-75.
121. Murphy G.B., Trailer J.W., Hill R.C. Measuring performance in entrepreneurship research. Journal of Business Research 1996, 36(1):15-23.
122. Nakata C., Sivakumar K. National culture and new product development: an integrative review. Journal of Marketing 1996, 60(1):61-72.
123. Narver J.C., Slater S.F., MacLachlan D.L. Responsive and proactive market orientation and new-product success. Journal of Product Innovation Management 2004, 21(5):334-347.
124. Nas S.O., Leppälahti A. Innovation, Firm Profitability and Growth 1997, Oslo.
125. Nohria N., Gulati R. Is slack good or bad for innovation?. Academy of Management Journal 1996, 39(5):1245-1264.
126. Nooteboom B. Innovation and diffusion in small firms: theory and evidence. Small Business Economics 1994, 6(5):327-347.
127. OECD Small and Medium Enterprise Outlook 2002, OECD, OECD Publishing, Paris.
128. Parthasarthy R., Hammond J. Product innovation input and outcome: moderating effects of the innovation process. Journal of Engineering & Technology Management 2002, 19(1):75-91.
129. Porter M.E. Competitive Strategy: Techniques for Analyzing Industries and Competitors 1980, Free Press, New York.
130. Porter M.E. Competitive Strategy: Techniques for Analyzing Industries and Competitors 1998, Free Press, New York, NY.
131. Porter M.E. Competitive Advantage 2004, Free Press, New York.
132. Pothokuchi V., Damanpour F., Choi J., Chen C., Park S. National and organizational culture differences and international joint venture performance. Journal of International Business Studies 2002, 33:243-265.
133. Qian G., Li L. Profitability of small- and medium-sized enterprises in high-tech industries: the case of the biotechnology industry. Strategic Management Journal 2003, 24(9):881-887.
134. Rajagopalan N., Finkelstein S. Effects of strategic orientation and environmental change on senior management reward systems. Strategic Management Journal 1992, 13(S1):127-141.
135. Rajesh S., Anju S. Can quality-oriented firms develop innovative new products?. Journal of Product Innovation Management 2009, 26(2):206-221.
136. Ram S., Jung H.S. "Forced" adoption of innovations in organizations: consequences and implications. Journal of Product Innovation Management 1991, 8(2):117-126.
137. Ramamoorthy N., Flood P.C., Slattery T., Sardessai R. Determinants of innovative work behaviour: development and test of an integrated model. Creativity & Innovation Management 2005, 14(2):142-150.
138. Rauch A., Frese M. Meta-analyses as a tool for developing entrepreneurship research and theory. Advances in Entrepreneurship, Innovation and Economic Growth 2006, 9:29-51.
139. Rauch A., Wiklund J., Lumpkin G.T., Frese M. Entrepreneurial orientation and business performance: An assessment of past research and suggestions for the future. Entrepreneurship: Theory & Practice 2009, 33(3):761-787.
140. Read S., Song M., Smit W. A meta-analytic review of effectuation and venture performance. Journal of Business Venturing 2009, 24(6):573-587.
141. Richard O.C., Barnett T., Dwyer S., Chadwick K. Cultural diversity in management, firm performance and the moderating role of entrepreneurial orientation dimensions. Academy of Management Journal 2004, 47(2):255-266.
142. Roberts E.B. Evolving toward product and market-orientation: the early years of technology-based firms. Journal of Product Innovation Management 1990, 7(4):274-287.
143. Rogers E.A. The Diffusion of Innovations 2003, Free Press, New York.
144. Rousseau D.M., Manning J., Denyer D. Evidence in management and organizational science: assembling the field's full weight of scientific knowledge through syntheses. Academy of Management Annals 2008, 2:475-515.
145. Roy R., Mark D. External linkages and innovation in small and medium-sized enterprises. R&D Management 1991, 21(2):125-138.
146. Sandvik I.L., Sandvik K. The impact of market orientation on product innovativeness and business performance. International Journal of Research in Marketing 2003, 20(4):355-376.
147. Saren M.A. A classification and review of models of the intra-firm innovation process. R&D Management 1984, 14(1):11-24.
148. Schreyögg G., Kliesch-Eberl M. How dynamic can organizational capabilities be? Towards a dual-process model of capability dynamization. Strategic Management Journal 2007, 28(9):913-933.
149. Schumpeter A. The Theory of Economic Development 1934, Harvard University Press, Cambridge, MA.
150. Schumpeter J.A. The Theory of Economic Development: an Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle 1982, Transaction Publishers, Piscataway, NJ.
151. Schwenk C.B., Shrader C.B. Effects of formal strategic planning on financial performance in small firms: a meta-analysis. Entrepreneurship - Theory and Practice 1993, 17(3):53-64.
152. Shan W. An empirical analysis of organizational strategies by entrepreneurial high-technology firms. Strategic Management Journal 1990, 11:129-139.
153. Shane S. Why do some societies invent more than others?. Journal of Business Venturing 1992, 7:29-46.
154. Shane S. Cultural influences on national rates of innovation. Journal of Business Venturing 1993, 8(1):59-73.
155. Shane S. Uncertainty avoidance and the preference for innovation championing roles. Journal of International Business Studies 1995, 26(1):47-68.
156. Shane S. The Illusions of Entrepreneurship: the Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By 2008, Yale University Press, New Haven.
157. Shepherd D.A., Shanley M. New Venture Strategy: Timing, Environmental Uncertainty and Performance 1998, Sage, London.
158. Siguaw J.A., Simpson P.M., Enz C.A. Conceptualizing innovation orientation: a framework for study and integration of innovation research. Journal of Product Innovation Management 2006, 23(6):556-574.
159. Soh P.-H. The role of networking alliances in information acquisition and its implications for new product performance. Journal of Business Venturing 2003, 18(6):727-744.
160. Song M., Podoynitsyna K., van der Bij H., Halman J.I.M. Success factors in new ventures: a meta-analysis. Journal of Product Innovation Management 2008, 25(1):7-27.
161. Steensma H.K., Marino L., Weaver K.M., Dickson P.H. The influence of national culture on the formation of technology alliances by entrepreneurial firms. Academy of Management Journal 2000, 43(5):951-973.
162. Stinchcombe A.L. Social structure and organizations. Handbook of organizations: 142-193 1965, Rand McNally, Chicago. J.G. March (Ed.).
163. Sull D. Why good companies go bad?. Harvard Business Review 1999, 77(4):42-56.
164. Takada H., Jain D. Cross-national analysis of diffusion of consumer durable goods in Pacific Rim countries. Journal of Marketing 1991, 55(2):48-54.
165. Teece D.J., Pisano G., Shuen A. Dynamic capabilities and strategic management. Strategic Management Journal 1997, 18(7):509-533.
166. Thornhill S. Knowledge, innovation and firm performance in high- and low-technology regimes. Journal of Business Venturing 2006, 21(5):687-703.
167. Thornhill S., Amit R. Growth management of emergent firms in Canada. Frontiers of Entrepreneurship Research 1998, Babson College, Wellesley, MA. P.D. Reynolds (Ed.).
168. Thornhill S., Amit R. Learning about failure: bankruptcy, firm age, and the resource-based view. Organization Science 2003, 14(5):497-509.
169. Tiessen J.H. Individualism, collectivism, and entrepreneurship: a framework for international comparative research. Journal of Business Venturing 1997, 12(5):367-384.
170. Tornatzky L.G., Klein K.J. Innovation characteristics and innovation adoption-implementation: a meta-analysis of findings. IEEE Transactions on Engineering Management 1982, 29(1):28-43.
171. Tylecote A. Cultural differences affecting technological innovation in Western Europe. European Journal of Work & Organizational Psychology 1996, 5(1):137-174.
172. Tyler B.B., Steensma H.K. The effects of executives' experiences and perceptions on their assessment of potential technological alliances. Strategic Management Journal 1998, 19(10):939-965.
173. Van de Ven A.H. Central problems in the management of innovation. Management Science 1986, 32(5):590-607.
174. Van De Ven A.H., Polley D. Learning while innovating. Organization Science 1992, 3(1):92-116.
175. Vermeulen P.A.M., O'Shaughnessy K.C., De Jong J.P.J. Innovation in SMEs: an Empirical Investigation of the Input-Throughput-Output-Performance Model 2003, EIM, Zoetermeer.
176. Vermeulen P.A.M., De Jong J.P.J., O'Shaughnessy Identifying key determinants for new product introductions and firm performance in small service firms. Service Industry Journal 2005, 25(5):625-640.
177. Veugelers R. Internal R & D expenditures and external technology sourcing. Research Policy 1997, 26(3):303-315.
178. von Hippel E. Task partitioning: an innovation process variable. Research Policy 1990, 19:407-418.
179. Vossen R.W. Relative strengths and weaknesses of small firms in innovation. International Small Business Journal 1998, 16(3):88-94.
180. Waarts E., van Everdingen Y.M., van Hillegersberg J. The dynamics of factors affecting the adoption of innovations. Journal of Product Innovation Management 2002, 19(6):412-423.
181. Wakasugi R., Koyata F. R&D, firm size and innovation outputs: are Japanese firms efficient in product development?. Journal of Product Innovation Management 1997, 14(5):383-392.
182. Wang C.K., Bee Lian A. Determinants of venture performance in Singapore. Journal of Small Business Management 2004, 42(4):347-363.
183. Williamson O.E. Transaction-cost economics: the governance of contractual relations. Journal of Law and Economics 1979, 22(2):233-261.
184. Wolff M.F. Forget R&D spending - think innovation. Research Technology Management 2007, 50(2):7-9.
185. Wolff J.A., Pett T.L. Small-firm performance: modeling the role of product and process improvements. Journal of Small Business Management 2006, 44(2):268-284.
186. Yalcinkaya G., Calantone R.J., Griffith D.A. An examination of exploration and exploitation capabilities: implications for product innovation and market performance. Journal of International Marketing 2007, 15(4):63-93.
187. Yli-Renko H., Autio E., Sapienza H.J. Social capital, knowledge acquisition, and knowledge exploitation in young technology-based firms. Strategic Management Journal 2001, 22(6/7):587-613.
188. Zacharakis A.L., McMullen J.S., Shepherd D.A. Venture capitalists' decision policies across three countries: an institutional theory perspective. International Business Studies 2007, 38(5):691-709.
189. Zahra S. Technology strategy and new venture performance: a study of corporate-sponsored and independent. Journal of Business Venturing 1996, 11(4):289-321.
190. Zahra S.A., Bogner W.C. Technology strategy and software new ventures' performance: exploring the moderating effect of the competitive environment. Journal of Business Venturing 2000, 15(2):135-173.
191. Zahra S.A., George G. Absorptive capacity: a review, reconceptualization, and extension. Academy of Management Review 2002, 27(2):185-203.
192. Zhao H., Luo Y., Suh T. Transaction cost determinants and ownership-based entry mode choice: a meta-analytical review. Journal of International Business Studies 2004, 35(6):524-544.
193. Zhou K.Z., Gao G.Y., Yang Z., Zhou N. Developing strategic orientation in China: antecedents and consequences of market and innovation orientations. Journal of Business Research 2005, 58(8):1049-1058.
194. Zhou K.Z., Brown J.R., Dev C.S. Market orientation, competitive advantage, and performance: a demand-based perspective. Journal of Business Research 2009, 62(11):1063-1070.