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Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation

Sustainability, 2020-01, Vol.12 (1), p.347 [Peer Reviewed Journal]

2020 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2071-1050 ;EISSN: 2071-1050 ;DOI: 10.3390/su12010347

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  • Title:
    Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation
  • Author: Gherghina, Ștefan Cristian ; Botezatu, Mihai Alexandru ; Hosszu, Alexandra ; Simionescu, Liliana Nicoleta
  • Subjects: Competition ; Economic development ; Economic growth ; Economics ; Employment ; Expenditures ; Impact analysis ; Innovations ; Investments ; Poverty ; Small business ; Statistical analysis ; Sustainability
  • Is Part Of: Sustainability, 2020-01, Vol.12 (1), p.347
  • Description: Small and medium-sized enterprises (SMEs) are crucial for local economic development, playing a noteworthy role in job creation, poverty alleviation and economic growth, but they encounter many funding barriers. The purpose of the current paper is to investigate the impact of investments and innovation on territorial economic growth, as measured by turnover, for Romanian active enterprises, especially SMEs, over the period 2009–2017. By estimating several log–log linear regressions, the quantitative outcomes provide support for a positive influence of investments on turnover. The association was confirmed both for all active enterprises at the national level, as well as for micro, small, middle-sized and big companies. As regards expenditures on innovation, a positive impact on turnover was acknowledged for all enterprises and particularly for big companies, but there was an absence of any statistically significant relation in the case of SMEs. The impact of firm size on turnover was positive for all active enterprises at the national level, along with active micro-units. Also, the estimation results show a positive impact of the number of active micro-units on territorial economic growth. The empirical findings are relevant to managers and policymakers in order to stimulate, encourage and offer support to SMEs’ development through their strategies.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 2071-1050
    EISSN: 2071-1050
    DOI: 10.3390/su12010347
  • Source: GFMER Free Medical Journals
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
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