Small and medium-sized enterprises (SMEs) in both the manufacturing and service sectors have been viewed as an important driving force behind the rapid economic growth in China. There are multiple factors that drive the success of SMEs. In this paper, we study the effect of innovation culture, technological capability, and organization size on the performance of SMEs in China. We hypothesize that firm performance is positively affected by each of these factors. We use data from 1124 SMEs in China and apply regression analysis to test our hypotheses. We find that technological capability and organization size have a statistically positive effect on the performance of SMEs. Because manufacturing and service industries have distinct characteristics, we also compare the effects of these factors on firm performance within these industries. We find that technological capability is positively and statistically significantly related to firm performance in the manufacturing industry but not in the service industry, while innovation culture is positively and statistically significantly related to firm performance in the service industry but not in the manufacturing industry.
Advertising and research and development (R&D) are two engines for firms to obtain competitiveness and improve profits. This study develops a system of equations to investigate the overall relationships among R&D, advertising and financial performance across firm sizes. Data from Korean listed firms have been used during 2012–2016. First, our results show that R&D and advertising are complementary in South Korea. Second, for large firms, advertising is positively and significantly associated with financial performance, and the R&D expenditure has no significant influence. Finally, R&D and advertising expenditures have a negative impact on the financial performance of small firms. An additional analysis is conducted to examine the duration of R&D and advertising. Our results from Korean listed firms contain important implications for academia as well as practitioners.
A sequencing batch reactor was employed to treat high ammonia concentration wastewater and investigate the shortcut nitrification rates under different aeration and sludge retention time(SRT) conditions. During the start-up stage SRT and temperature were set at 12d and 30 , respectively, and
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