The Impact of Industry-Science Collaboration on the Innovative Performance of Companies Listed on the Warsaw Stock Exchange
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Publication date: 2013-06-30
GNPJE 2013;264(5-6):97–121
The article looks at the collaboration of companies with the science sector and its impact on the innovation performance of businesses. Variables include the proportion of revenue from the sale of innovative products in total sales, the implementation of product and process innovation, and the number of patent applications. The author examines how science-business collaboration is influenced by the size of companies, their internal research-and-development (R&D) activity, and the type of Warsaw Stock Exchange market they are listed on (main or alternative). The data was collected through a questionnaire among companies listed on the Warsaw Stock Exchange –on both the main market and the NewConnect alternative market – using the Computer-Assisted Telephone Interviewing (CATI) method. Answers were collected from a total of 104 companies. The analysis was conducted using descriptive statistics, calculating the correlation among the variables, and estimating the parameters using the logit and Ordinary Least Squares (OLS) methods. The results of the study show that collaboration with the science sector is positively correlated and has a significant impact on company innovation indicators, the author says. However, it has also been observed that the market on which a company is listed has no statistically significant impact on these results, Kubacki adds. For professionals holding top managerial positions as well as those involved in the development of innovation and business strategies in the corporate sector, this is an important signal that collaboration with the science sector can produce tangible benefits in the form of a higher level of innovation, the author concludes.