Exploring the COVID-19 pandemic impact on innovation and entrepreneurship – Review and evidence from Global Innovation Index

Onea, Ioana Alexandra

doi:10.2478/picbe-2022-0051

Cited by 7 publications

(3 citation statements)

References 58 publications

(85 reference statements)

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“…Second, ending the period in 2019 allows the study to avoid the disruptive influence of the COVID-19 pandemic. The pandemic has drastically affected the global economy and the nature of innovation (Onea 2022). By excluding the COVID-19 period, the study avoids conflating the effects of innovation with those of the pandemic.…”

Section: Methodsmentioning

confidence: 99%

The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective

et al. 2023

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This paper aims to investigate the impact of innovation on three macroeconomic indicators: GDP, self-employment, and foreign direct investment (FDI). The study analyses a sample of 120 countries using the Global Innovation Index (GII) and its constituent sub-indices and pillars, which provide a holistic evaluation of national innovation. Gross domestic product (GDP) per capita measures a country’s economic output, self-employment assesses entrepreneurial activity, and FDI indicates confidence in a country’s economic prospects and innovation trends. This study analyzes the data using generalized-linear and panel-corrected standard-error models. The results show that innovation positively influences GDP, domestic institutional framework, local infrastructure, local knowledge and technology, and creative outputs. In contrast, innovation negatively correlates with domestic self-employment, often associated with necessity-driven entrepreneurship. The study concludes that innovation positively affects human resources, research, and creative outputs and has no significant impact on FDI. The findings suggest that a practical regulatory framework, institutional support, domestic human capital, research and development, infrastructure, technology, and creative outputs are essential for a vibrant economy. National innovation policies supporting the GII and its constituent factors can positively affect the economy while reducing self-employment.

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Section: Methodsmentioning

confidence: 99%

The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective

et al. 2023

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“…Several studies have been carried out to monitor COVID-19-related inventions, including evaluations of patent data in diagnostics, sanitization, personal protection, and vaccine research available from December 2019 to June 2021 (Dubey et al, 2022). Researchers used the Global Innovation Index Reports to analyze the impact of the Pandemic on innovation, and significant changes were found in all three categories, business sophistication, infrastructure, and knowledge and technology output (Onea, 2022). According to the findings, technological change is observed by using the prediction values obtained by patent data usage, particularly in areas where the predictions are made using artificial intelligence techniques, which is a technology area that is not only open to development but also requires extensive academic research.…”

Section: Literature Reviewmentioning

confidence: 99%

COVID-19 Pandemic and Technological Change: Analysis of Patent Applications

YILDIRIM>

2023

Verimlilik Dergisi

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Purpose: , This study is aimed to measure Covid-19's impact on innovation and monitor technical change during the Pandemic through patent applications Methodology: Patent application annual total number of European Patent Office patent applications data on 35 different technological disciplines separated into five key categories from 2012 to 2021 were utilized in the analysis The Prophet forecasting model to forecast patent applications for 2020 and 2021 has been developed. The technological advancements and Pandemic impact on innovation were then analyzed using the realized and forecasted values. Findings: The study's findings indicate no apparent difference between actual numbers and forecasted values. In 2020 and 2021, more patent applications than predicted were filed in 15 technical fields and 16 technological domains, respectively. The study also found that semiconductors, audio-visual, and nanotechnology advancements have been notable during the Pandemic. Originality: The originality of this study lies in the use of the Prophet forecasting model based on EPO patent application values in the analysis of the effects of the pandemic on innovation and technological change for 35 different technological disciplines. Keywords: Technological Change, Innovation, Patent, Prophet model, Covid-19. JEL Codes: O30,O33,C22

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“…During COVID-19, many brick-andmortar business activities were suspended and shifted to online activities, such as online offices, online education, and online stores [1,2]. As a result, the market's demand for digital products and services has reached a new high [3]. Most businesses and social life have moved into the online realm, leading to a boom in the ICT industry [4,5].…”

Section: Introductionmentioning

confidence: 99%

Exploring the Relationship between R&D Investment and Business Performance—An Empirical Analysis of Chinese ICT SMEs

Estébanez

2023

Sustainability

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Service and product innovation have been emphasized as being essential to the success of ICT firms in numerous studies. Being ongoing processes, R&D activities make it challenging to forecast the benefits to a business. Does the company obtain immediate returns on its research and development expenditures? How long will their effectiveness remain? During the development of a strategy, business managers must take all these factors into account. A major objective of this paper is to determine the relationship between a company’s R&D investment and its business performance. We collected data from 1262 small- and medium-sized enterprises in the ICT service industry in China between 2011 and 2020. The R&D investment was selected as the independent variable, while its financial performance (ROA, ROE, liquidity ratio, debt asset ratio, and interest cover ratio) and market value (Tobins’ Q) were selected as the dependent variables. Multiple linear regressions were used to determine whether there was a correlation between these variables. Firstly, R&D investment improve current profitability and there is a one-period lag in these benefits. Second, R&D is negatively correlated with short-term debt-paying ability, but positively correlated with a long-term view, and these effects will last for one period. Lastly, R&D investment has a negative impact on the current market value, but the R&D investment within the two lagged periods still has a positive impact. This study addresses a significant gap in empirical research. Recommendations for companies to consider when making R&D decisions are also included in the paper.

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Exploring the COVID-19 pandemic impact on innovation and entrepreneurship – Review and evidence from Global Innovation Index

Cited by 7 publications

References 58 publications

The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective

The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective

COVID-19 Pandemic and Technological Change: Analysis of Patent Applications

Exploring the Relationship between R&D Investment and Business Performance—An Empirical Analysis of Chinese ICT SMEs

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