Authors: Diogo E. Ferraz; Elisabeth T. Pereira
Addresses: Department of Economics, Management, Industrial Engineering and Tourism (DEGEIT), University of Aveiro, Campus Universitario de Santiago, 3810-193 Aveiro, Portugal ' Department of Economics, Management, Industrial Engineering and Tourism (DEGEIT); Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), University of Aveiro, Campus Universitario de Santiago, 3810-193 Aveiro, Portugal
Abstract: The Europe 2020 Strategy considers the micro, small and medium-sized enterprises (SMEs) the backbone of European member states to achieve a smart, sustainable and inclusive economic growth. The present study has as purpose to investigate the relationship between a set of variables that characterises the small knowledge intensive firms (SKIFs) and gross domestic product (GDP) and the importance of their business expenditure on research and development (BERD). To achieve this purpose, 24 European member states were analysed during the period between 2008 and 2012 using the econometric analysis of panel data and cluster analysis. The obtained results allow to conclude that countries with high growth values on SKIFs also have growth in GDP and BERD, emphasising a direct relationship of SKIF with country macroeconomic variables.
Keywords: small knowledge intensive firms; SKIFs; micro, small and medium-sized enterprises; SMEs; European member states; innovation; panel data; clusters analysis; research and development; R&D; gross domestic product; GDP; BERD; Europe 2020 strategy.
International Journal of Knowledge-Based Development, 2018 Vol.9 No.3, pp.221 - 243
Received: 11 Feb 2017
Accepted: 23 Nov 2017
Published online: 19 Sep 2018 *