Percorrer por autor "Renz, Mathias Kurt"
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- Innovation in German SMEs and the influence of digitization : evidence from firm level dataPublication . Renz, Mathias Kurt; Peukert, ChristianIn Germany, there is evidence of a widening innovation gap between smaller and larger firms. The number of firms innovating decreases as mostly smaller firms are quicker to refrain from innovation efforts. Digitization is believed to be an enabler of innovation, yet smaller firms appear especially reluctant to implement digital tools into their operations. This study investigates the relationships of firm size, firm age, and digital technology with innovation. The results demonstrate that larger and younger firms are more likely to create product innovations. Digitization is, as expected, an innovation lever enabling more digital firms to more product and process innovations. Additionally, a higher degree of digitization has a positive moderating effect on process innovations in larger firms. The results are based off thousands of German SMEs recorded in the Mannheim Innovation Panel, a representative dataset for the German economy. The applied methodology is regression analysis, i.e. multivariate linear regression as well as fixed effects estimation models. This study highlights the importance of digital technology in an innovation economy context as it could potentially narrow the innovation gap between smaller and larger firms. Therefore, managers should acknowledge and embrace the innovation potential provided by digital technology. Policymakers should incentivize higher levels of digitization, especially for smaller firms, and provide access to training offers on an individual level for older employees, who oftentimes feel inept to work with digital tools.