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Title: Economic crisis effects on SME dynamic capabilities

Authors: Álvaro Lopes Dias; Elsio Carlos Manuel; Georg Dutschke; Renato Pereira; Leandro Pereira

Addresses: Instituto Superior de Gestão, Av. Mal. Craveiro Lopes 2, 1700-097 Lisbon, Portugal; ISCTE-IUL, Av. das Forças Armadas, Lisbon, Portugal ' UPRA and Instituto Superior de Gestão, Av. Mal. Craveiro Lopes 2, 1700-097 Lisbon, Portugal ' Atlântica – Escola Universitária de Ciências Empresariais, Saúde, Tecnologias e Engenharia, Barcarena, Portugal ' Observare Research Centre, Lisbon, Portugal; ISCTE-IUL, Av. das Forças Armadas, Lisbon, Portugal ' ISCTE-IUL, Av. das Forças Armadas, Lisbon, Portugal

Abstract: Based on dynamic capabilities theoretical framework, this research sought to understand the implications of the recent economic crisis on the capability of developing new products by Portuguese SMEs. Specifically, we assessed how this capability was affected by variables such as entrepreneurship, innovation capacity, the knowledge accumulation, and partnerships. The hypotheses were tested using two samples, one before the crisis, with 180 and another with 105 respondents, applied during the crisis (2012). Results reveal that during the crisis SMEs were more objective and effective in the use of their resources and capabilities. In particular, was found that during the crisis the entrepreneurship, innovation capacity, accumulation of knowledge and partnerships, have an impact on the capability of developing new products. Before the crisis, only entrepreneurship and knowledge accumulation have affected this capability.

Keywords: dynamic capabilities; economic crises; SMEs; entrepreneurship; innovation capacity; partnerships; knowledge accumulation.

DOI: 10.1504/IJLC.2021.111662

International Journal of Learning and Change, 2021 Vol.13 No.1, pp.63 - 80

Received: 30 Nov 2018
Accepted: 20 Jun 2019

Published online: 30 Oct 2020 *

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