Exploring how innovation strategies at time of crisis influence performance: a cluster analysis perspective. Issue 4 (3rd April 2018)

• Record Type: Journal Article
• Authors: Ausloos, Marcel; Bartolacci, Francesca; Castellano, Nicola G.; Cerqueti, Roy
• Is Part Of: Technology analysis & strategic management. Volume 30:Issue 4(2018)
• Page Start: 484
• Page End: 497
• Publication Date: 2018-04-03
• Subjects: Innovation -- business performance -- financial statements -- STAR Market -- cluster analysis -- Voronoi tessellation; Technological innovations -- Management -- Periodicals; Research, Industrial -- Management -- Periodicals; High technology industries -- Management -- Periodicals; Strategic planning -- Periodicals; 658.401205
• DOI: 10.1080/09537325.2017.1337889
• Languages: English
• ISSNs: 0953-7325

Abstract

ABSTRACT: This paper analyzes the connection between innovation activities of companies – implemented before crisis – and their performance – measured at time of crisis. The companies listed in the STAR Market Segment of the Italian Stock Exchange are analyzed. Innovation is measured through the level of investments in total tangible and intangible fixed assets in 2006–2007, while performance is captured through growth – expressed by variations of sales, total assets and employees – profitability – through ROI or ROS – and productivity – through asset turnover or sales per employee in the period 2008–2010. The variables of interest are analyzed and compared through statistical techniques and by adopting cluster analysis. In particular, a Voronoi tessellation is also implemented in a varying centroids framework. In accord with a large part of the literature, we find that the behaviour of the performance of the companies is not univocal when they innovate.