The impact of innovation on companies’ performance: an entropy-based analysis of the STAR market segment of the Italian Stock Exchange

Journal article

Bartolacci, F., Castellano, N.G. and Cerqueti, R. (2015). The impact of innovation on companies’ performance: an entropy-based analysis of the STAR market segment of the Italian Stock Exchange. Technology Analysis & Strategic Management. 27 (1), pp. 102-123.
AuthorsBartolacci, F., Castellano, N.G. and Cerqueti, R.
Abstract

This paper proposes the use of a class of concentration-based entropy measures as a new instrument to quantify business performances through an analysis of growth, profitability and productivity. Such measures are tested against a complex analysis of the link between innovation and performance for firms listed in the STAR market segment of the Italian Stock Exchange. In so doing, two targets are achieved: (1) the identification of parameters that are relevant for explaining the relationship between innovation and performance for the considered sample, with special focus on innovation type, innovation level and business size; (2) the elaboration of a new methodology – based on information theory – for the analysis of the impact of innovation on performance. The study shows that type of innovation and size play a key role in determining company performance.

This is an Accepted Manuscript of an article published by Taylor & Francis Group in Technology Analysis & Strategic Management on 04/09/2014, available online: http://www.tandfonline.com/10.1080/09537325.2014.952624

Year2015
JournalTechnology Analysis & Strategic Management
Journal citation27 (1), pp. 102-123
PublisherInforma UK Limited
ISSN0953-7325
Digital Object Identifier (DOI)doi:10.1080/09537325.2014.952624
Publication dates
Print02 Jan 2015
Online04 Sep 2014
Publication process dates
Deposited06 Mar 2020
Accepted author manuscript
License
CC BY 4.0
File Access Level
Open
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