Odei, Samuel Amponsah; Soukal, I an; F eibaue Hamplo á, E a; T nko á,
Gab iela; H uška, Jan
A icle
The impac s o in ellec ual p o ec ion and R&D
collabo a ions on i m-le el inno a ions: he mode a ing
ole o in e nal unding
Cogen Economics & Finance
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: Odei, Samuel Amponsah; Soukal, I an; F eibaue Hamplo á, E a; T nko á,
Gab iela; H uška, Jan (2024) : The impac s o in ellec ual p o ec ion and R&D collabo a ions on
i m-le el inno a ions: he mode a ing ole o in e nal unding, Cogen Economics & Finance, ISSN
2332-2039, Taylo & F ancis, Abingdon, Vol. 12, Iss. 1, pp. 1-19,
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The impac s o in ellec ual p o ec ion and R&D
collabo a ions on fi m-le el inno a ions: he
mode a ing ole o in e nal unding
Samuel Amponsah Odei, I an Soukal, E a F eibaue Hamplo á, Gab iela
T nko á & Jan H uška
To ci e his a icle: Samuel Amponsah Odei, I an Soukal, E a F eibaue Hamplo á, Gab iela
T nko á & Jan H uška (2024) The impac s o in ellec ual p o ec ion and R&D collabo a ions on
fi m-le el inno a ions: he mode a ing ole o in e nal unding, Cogen Economics & Finance,
12:1, 2385657, DOI: 10.1080/23322039.2024.2385657
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GENERAL & APPLIED ECONOMICS |RESEARCH ARTICLE
The impac s o in ellec ual p o ec ion and R&D collabo a ions on
i m-le el inno a ions: he mode a ing ole o in e nal unding
Samuel Amponsah Odei, I an Soukal , E a F eibaue Hamplo
a, Gab iela T nko
a and
Jan H u
ska
Depa men o Economics, Uni e si y o H adec K
alo
e, H adec K
alo
e, Czech Republic
ABSTRACT
In es men s in esea ch and de elopmen (R&D) and inno a ions a e p o en o be i al
ca alys s o he success ul ansi ion in o knowledge-based economies. Despi e he
g owing impo ance a ached o inno a ions and R&D, hey ha e ye o ecei e enough
schola ly a en ion in de eloping coun ies. This esea ch aims o examine whe he
in ellec ual p o ec ion and inno a ion collabo a ions in luence R&D and echnological
inno a ions. The empi ical esul s in ol ing 549 i ms e ealed ha adema ks posi-
i ely and ma ginally in luence echnological inno a ions bu no R&D. The indings also
e ealed ha domes ic and in e na ional inno a ion collabo a ions wi h o he i ms and
uni e si ies ha e a posi i e ma ginal e ec on bo h echnological inno a ions and R&D.
The esul s also show ha i ms’in e nal unds signi ican ly mode a e he ela ionship
be ween in ellec ual p o ec ion, echnological inno a ions, and R&D. The main implica-
ion om ou inding is ha Ghanaian i ms should conside in es ing in in ellec ual p o-
ec ion and o ging collabo a ions wi h domes ic and o eign i ms and uni e si ies o
inc ease hei inno a ion pe o mance and compe i i eness.
RESEARCH IMPACT
This esea ch uses insigh s om he sys emic pe spec i e o inno a ion o examine
how i ms’open inno a ion (domes ic and in e na ional) and in ellec ual p ope y
igh s in luence echnological inno a ion and R&D in an eme ging economy. We u -
he assess he mode a ing e ec o in e nal unds in he ela ionships. Ou empi ical
model based on i m-le el da a om 549 Ghanaian i ms e ealed ha i ms’collabo-
a ions wi h domes ic collabo a ions wi h o he i ms inc ease echnological inno -
a ion and R&D, while collabo a ion wi h o eign i ms inc eases jus echnological
inno a ion. The esul s u he p o ed ha i ms collabo a ions wi h Ghanaian uni e -
si ies inc ease echnological inno a ion bu no R&D. Con a y, i ms’collabo a ions
wi h o eign uni e si ies inc ease bo h echnological inno a ion and R&D. T adema ks
and copy igh p o ec ions demons a ed o inc ease echnological inno a ion and
R&D. U ili y models we e ound o inc ease R&D bu no echnological inno a ion. The
esul o he mechanism e ec s shows ha i ms’in e nally gene a ed unds posi i ely
mode a e he ela ionships be ween u ili y models and bo h echnological inno a ions
and R&D. A simila esul was ound o he posi i e mode a ing ole o in e nal und-
ing in he ela ionships be ween copy igh s and echnological inno a ions and R&D.
Con a y, he esul p o ed ha in e nal unding has a nega i e mode a ing e ec in
he ela ionship be ween adema ks and echnological inno a ions, as well as R&D.
The esea ch indings ha e se e al signi ican implica ions o heo y and p ac ice
om he s andpoin o en e p ises ope a ing in eme ging ma ke s. Theo e ically,
al hough de eloped economies ha e ga ne ed su icien schola ly a en ion on inno -
a ion collabo a ion and in ellec ual p ope y p o ec ion, hei impac on inno a ion
emains unde explo ed in eme ging ma ke s. The e o e, esea ching how open inno -
a ion in ol ing bo h domes ic and o eign pa ne s as well as in ellec ual p ope y
p o ec ion and how hey in e ac wi h i ms’in e nal unding esona es wi h eme ging
ma ke pe spec i es. Ou indings ha e p o ided empi ical e idence ha open inno -
a ion and in ellec ual p ope y p o ec ion in luence bo h echnological and R&D ac i -
i ies. These indings con ibu e o he bu geoning sys emic pe spec i e o inno a ion
li e a u e. Second, his s udy adds some heo e ical insigh s o ou comp ehension o
ARTICLE HISTORY
Recei ed 3 Janua y 2024
Re ised 19 Ma ch 2024
Accep ed 8 July 2024
KEYWORDS
Technological inno a ions;
esea ch and de elopmen ;
in ellec ual p ope y igh s;
in e nal unding;
collabo a ions; Ghana
SUBJECTS
Indus y & Indus ial
S udies; Economics;
Manu ac u ing Indus ies
JEL CODES
03; 031; 032; 033; 034; 036
CONTACT Samuel Amponsah Odei [email p o ec ed] Depa men o Economics, Uni e si y o H adec K
alo
e, Roki anskeho 62,
H adec K
alo
e, 50003, Czech Republic
ß2024 The Au ho (s). Published by In o ma UK Limi ed, ading as Taylo & F ancis G oup
This is an Open Access a icle dis ibu ed unde he e ms o he C ea i e Commons A ibu ion License (h p://c ea i ecommons.o g/licenses/by/4.0/), which
pe mi s un es ic ed use, dis ibu ion, and ep oduc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. The e ms on which his a icle has been
published allow he pos ing o he Accep ed Manusc ip in a eposi o y by he au ho (s) o wi h hei consen .
COGENT ECONOMICS & FINANCE
2024, VOL. 12, NO. 1, 2385657
h ps://doi.o g/10.1080/23322039.2024.2385657
he e ec mechanisms h ough which hese ela ionships wo k o impac echno-
logical inno a ion and R&D. These mechanism-e ec ela ionships ha e no been ully
examined by exis ing s udies. The main p ac ical implica ions om he inding ha
he low ex en o open inno a ion is ha policymake s could ex end public unding
suppo o i ms and highe educa ional ins i u ions ha in end o collabo a e wi h
bo h domes ic and o eign pa ne s. Finally, he alloca ion o in e nal unds o assis
R&D ope a ions co e ed by adema ks, u ili y models, and copy igh s should be a
op p io i y o i m managemen in Ghana.
In oduc ion
Technological inno a ions and ela ed ac i i ies, such as esea ch and de elopmen , ha e ecen ly been
hailed as he p ima y d i e s o long- e m g ow h and de elopmen (Zhou e al., 2020). The endogenous
g ow h heo y unde sco es he impo ance o R&D, inno a ion, and human capi al in coun ies’economic
g ow h p og ession (Aghion e al., 1998). Engaging in esea ch and de elopmen ac i i ies has been p o-
en o ha e posi i e ex e nali ies, which can imp o e i ms’p oduc i i y and compe i i eness. In an e a o
in ense ma ke compe i ion ueled by he apid pace o globalisa ion, i ms a e encou aged o inno a e o
imp o e hei compe i i e ad an age o e hei compe i o s (Azeem e al., 2021). Se e al inno a ion mod-
els o achie ing inno a ions ha e been p oposed. The linea model was he i s o hese models ha
ocused on p o iding suppo o engage in in e nal R&D. Acco ding o Godin (2006), he linea model ini-
ially ocuses on basic esea ch, is ollowed by applied esea ch and de elopmen , and concludes wi h new
knowledge p oduc ion and dissemina ion. Howe e , his model was c i icised o ocusing on inno a ing in
isola ion (Edquis & Hommen, 1999). Then came he widely accep ed open inno a ion model (Wes &
Boge s, 2014), which os e s inno a ions h ough a collabo a i e app oach in ol ing se e al ac o s in he
inno a ion p ocess. Fi ms can collabo a e wi h ac o s such as knowledge ins i u ions, clien s and cus om-
e s, consul an s, and o he i ms. Then open inno a ion p omo es esou ce and expe ise sha ing among
pa ne s, wi h each pa ne playing a complemen a y ole. Inno a ion, on he o he hand, ex ends beyond
hese collabo a ions o include i al esou ces such as in as uc u e, human capi al, and in ellec ual p op-
e y igh s ools. Se e al s ands o esea ch on inno a ions ha e shown ha de eloped economies ha e
emb aced inno a ions (see Lascial a i e al., 2019). De eloping coun ies a e shown o be ca ching up wi h
echnologies and inno a ions, bu a a slow pace (Das & D ine, 2020). Howe e , due o he e ogenei ies in
hese coun ies, i is s ill no known which coun y-speci ic condi ions d i e indi idual coun ies’inno a-
ions. As a esul , he e is a call o esea ch in o how speci ic coun y condi ions shape inno a ion.
Exis ing s udies on i m-le el inno a ions in Ghana and o he de eloping coun ies exhibi nume ous
d awbacks ha limi he scope o which i m-le el inno a ions can be deeply analysed and unde s ood.
They ha e o e ly ocused on small and medium-scale en e p ises (see, o ins ance, Bam o & K aa, 2019), a
he expense o la ge i ms. We a gue ha o a de ailed unde s anding o inno a ions, esea ch should
b oadly no neglec any i m o sec o in he analysis. We admi ha he e a e nume ous g owing inno -
a ion s udies, especially in Ghana, ha ha e analysed inno a ions om he collabo a ing poin o iew (see,
o ins ance, Odei e al., 2023). These s udies ha e ocused on inno a ion collabo a ions wi h jus domes ic
pa ne s, such as clien s and cus ome s, uni e si ies, and consul an s, among o he s. While his s udy con-
cluded ha syne gies in ol ing domes ic pa ne s p o ide use ul bene i s o collabo a ing pa ne s, we
belie e ha igno ing inno a ion collabo a ions in ol ing o eign pa ne s limi s ou comple e unde s and-
ing o he bene i s o i m collabo a ions. A ho ough e iew o he ex ensi e li e a u e has also e ealed
ha mos o he esea ch on inno a ions in Ghana and o he de eloping coun ies has no conside ed key
de e minan s such as in ellec ual p ope y igh s (IPR) p o ec ion. Al hough s udies conduc ed elsewhe e in
he de eloped wo ld ha e shown ha hey o e use ul bene i s o i ms’inno a ions (see Deng e al., 2018;
Odei & Hamplo
a, 2022). We a gue ha he neglec o s udies on he impac o in ellec ual p o ec ion om
an eme ging ma ke pe spec i e limi s ou unde s anding o how hey impac he inno a ion p ocess in
hese coun ies. Finally, se e al s ands o esea ch (see Nylund e al., 2020; Odei e al., 2023) ha e p o en
ha i ms’in e nal inno a ion unding has a di ec in luence on inno a ions because hese unds enable
hem o unde ake and sus ain he inno a ion p ocess. Bu ewe s udies, especially in eme ging economies
2 S.A. ODEI ET AL.
like Ghana, ha e ocused on he mechanisms by which i ms’in e nal inno a ion unding mode a es he
ela ionships be ween in ellec ual p ope y igh s and inno a ion p ocesses. Igno ing hese c i ical de e mi-
nan s make ou unde s anding o he inno a ion ecosys em in de eloping coun ies like Ghana incomple e,
necessi a ing a di e en esea ch app oach o one ha inco po a es hese neglec ed aspec s o i ms’
inno a ion p ocesses o p o ide a b oade unde s anding o he inno a ion landscape. This esea ch ills
his gap by examining whe he i ms’domes ic and in e na ional inno a ion collabo a ions as well as in el-
lec ual p ope y igh s in luence hei echnological inno a ion and R&D. We u he assess he mechanisms
h ough which i ms’in e nal unds mode a e he ela ionships be ween inno a ion collabo a ions, in ellec-
ual p ope y igh s, and i ms’ echnological inno a ions and R&D. To ul il he objec i es ou lined abo e,
his esea ch seeks o answe he ollowing esea ch ques ions:
1. Do domes ic and in e na ional inno a ion linkages in luence echnological inno a ion and R&D in
eme ging economies?
2. Does in ellec ual p ope y igh p o ec ion enhance echnological inno a ion and R&D in eme ging
economies?
3. How do i ms’in e nal unds mode a e he ela ionships be ween inno a ion collabo a ion and in el-
lec ual p ope y igh s p o ec ion in eme ging ma ke s?
Fo he empi ical es ima ion, we used a da ase om 549 i ms in Ghana o examine whe he in ellec ual
p ope y igh s p o ec ion and inno a ion collabo a ions in luence echnological inno a ions and R&D.
This s udy is no el as i analyses he in luence o o eign inno a ion collabo a ions in ol ing o eign i ms
and academic ins i u ions and hei abili ies o in luence Ghanaian i ms’inno a ions. To he bes o he
esea che ’s knowledge, no exis ing esea ch has examined hese ela ionships in Ghana and o he A ican
coun ies. Ano he heo e ical implica ion o he pape is i s con ibu ion o he g owing li e a u e on in el-
lec ual p ope y igh s and hei abili y o in luence i ms’inno a ion. Exis ing s udies on IPRs’in luence on
i ms’inno a ions ha e disp opo iona ely ocused on using pa en s as a measu e while igno ing o he
o ms o in ellec ual p ope y igh s p o ec ion such as u ili y models, copy igh s, and adema ks. Ou
esul s ha e es ablished ha o he IPR ools, such as u ili y models, adema ks, and copy igh s, could posi-
i ely in luence i ms’inno a ion pe o mances. These esul s con ibu e o inc easing he cu en know-
ledge o o he less known in ellec ual p ope y p o ec ion ools such as adema ks, copy igh s and u ili y
models as sui able subs i u es o pa en s, which ha e been p o en o in luence inno a ion ou comes.
These indings add o and expand on he g owing li e a u e on i m inno a ions om a sys emic pe spec-
i e and om he pe spec i e o de eloping coun ies. One key p ac ical implica ion om ou esul s is
ha Ghanaian i ms’collabo a ions wi h o eign pa ne s could allow hem o access ad anced o eign
knowledge, expe ise, and echnologies, which could ha e posi i e spillo e e ec s on he en i e Ghanaian
economy. The main limi a ion o his esea ch ela es o he use o c oss-sec ional da a o 2013. While we
admi ha his da a could be conside ed ou da ed, i ’s he cu en and only inno a ion da a eleased by
he WBES o Ghana. The na u e o he da a also p e en ed panel da a analysis due o da a a ailabili y,
especially o o he coun ies. Despi e hese limi a ions, he esul s p o ide use ul insigh s ha could se e
as he basis o unde s anding how in ellec ual p o ec ion and inno a ion collabo a ions in luence i m-
le el inno a ions in Ghana du ing he yea s o he su ey.
The es o he a icle is o ganised in he ollowing o de : Sec ion wo e iews and delibe a es on
exis ing li e a u e on he concep s o echnological inno a ions, esea ch, and de elopmen and he a i-
ous ac o s boos ing hem. Sec ion h ee is de o ed o he me hodology, measu es, and sou ce o da a,
while Sec ion ou is de o ed o he de ailed discussion o he empi ical esul s in ela ion o he exis ing
p e ious s udies. Sec ion i e concludes he esea ch wi h sugges ions o u he esea ch, policy, and
p ac ical ecommenda ions, as well as esea ch limi a ions.
Theo e ical backg ound and hypo heses o mula ion
The main heo e ical ounda ion o his esea ch is he sys emic pe spec i e o inno a ion, which pos ula es
ha e icacious and sus ainable inno a ion is con ingen on i ms’abili y o coo dina e and in eg a e a b oad
ange o bo h in e nal and ex e nal an eceden s o scien i ic and specialised knowledge (Midgley & Lindhul ,
COGENT ECONOMICS & FINANCE 3
2021). Fo he pas wo decades, he na ional inno a ion sys ems o se e al coun ies ha e ollowed a linea
model. This linea inno a ion model heo ises ha i ms en i ely depend on in e nally gene a ed knowledge;
his is cha ac e ised by an absu dly weak dependence on he in eg a ion o ex e nal knowledge. Inno a ion
policies based on he linea model a e p ima ily ocused on p o iding public subsidies o businesses and p o-
iding he necessa y R&D in as uc u e needed o accele a e inno a ion. Howe e , he e has been a pa a-
digm shi in policy ocus in ecen imes, wi h he belie ha inno a ion is an open p ocess wi h an o ganised
social endency ha is p ima ily uelled by ex e nal knowledge (Wes & Boge s, 2014). The sou ce o his ex e -
nal knowledge is coope a ing wi h ac o s such as uni e si ies, a ious go e nmen minis ies, o he i ms,
supplie s, clien s, and consul an s (Wes & Boge s, 2014). The new knowledge ob ained om hese ex e nal
pa ne s becomes impo an o i ms’inno a ion ou comes (Odei e al., 2023). I helps e i e s agna ed p oc-
esses, leading o inno a ions. Howe e , o new knowledge o be bene icial o i ms’inno a ions, hey mus
imp o e hei abso p i e capaci ies h ough human capi al de elopmen .
Inno a ion e e s o an o ganisa ion’s ap i ude o apply signi ican ly imp o ed knowledge, ideas, o
beha iou s ha a e expec ed o esul in imp o ed p oduc s, in e nal p ocesses, ma ke ing, and o gan-
isa ional managemen p ac ices (Ma
ınez-Ros, 2019). Inno a ion has become one o he mos in luen ial
s a egic esou ces i ms can ely on o imp o e hei compe i i eness, pe o mance, and p oduc i i y.
The con inued imp o emen s in i ms’inno a ion compe encies a e bene icial o imp o ing and placing
hem compe i i ely amids he as -paced, changing ma ke en i onmen . Indus ial inno a ion capabil-
i ies es on he capabili y o pe sis en ly con e new knowledge and ideas in o signi ican ly imp o ed
p oduc s, p ocesses, ma ke ing, and o ganisa ional me hods o ealise mo e p o i s. Inno a ions can
he e o e be new o he i m i sel o o he i m’s ma ke (Odei & Hamplo
a, 2022). This implies ha a
gi en in en ion could be new o he i m i sel and i s compe i o s, and his no el y could g an hem a
empo a y compe i i e ad an age un il hei i als ollow in hei oo s eps. Acco ding o he sou ce
measu es, inno a ions can be classi ied as echnological o non- echnological (Geldes e al., 2017).
Technological inno a ions b oadly encompass imp o ed p oduc s and p ocesses, while non- echno-
logical inno a ions en ail ma ke ing and o ganisa ional inno a ions (Geldes e al., 2017; Odei e al.,
2023). Technological inno a ion is a b oad se o ac i i ies unde aken by i ms o in close collabo a ion
wi h o he ac o s ha signi ican ly lead o echnological ad ancemen s ha p o ide economic bene i s
o i ms. Technological inno a ions essen ially in ol e he expansion and u ilisa ion o ad anced echnol-
ogies (Geldes e al., 2017). Resea ch and de elopmen ac i i ies a e known o be a signi ican sou ce o
new knowledge and a p o en ca alys o he inno a ion p ocess. Though R&D is an impo an sou ce o
new knowledge, ce ain schools o hough belie e ha i is no necessa ily a equi emen o inno a-
ions and ha his could be acqui ed elsewhe e h ough collabo a ion (Cappelen e al., 2012).
Resea ch on he nexus be ween i ms’inno a ion and in ellec ual p ope y igh s (IPRs) has inc eased
in ecen imes (see, o example, Ne es e al., 2021). In ellec ual asse s consis o he a ious o ms o
IPR p o ec ions ha a e indispensable o i ms o ans igu e hei in en ions and c ea i i y in o eco-
nomic gains. IPRs enable in en o s o p o ec hei new knowledge and disco e ies, as hey g an hem
he exclusi e igh o bene i om hese in en ions. In he absence o hese in ellec ual p ope y p o ec-
ions, he ee ma ke will no a o d in en o s adequa e inducemen s o unde ake isky and cos ly
in es men s o gene a e new knowledge and echnologies. Vigo ous IPR p o ec ion is necessa y because
knowledge has he special a ibu e o being a public good ha is non-excludable. These dis inc a ib-
u es make i p oblema ic and di icul o p e en o he people om using new knowledge wi hou he
consen o he in en o . IPR p o ec ion he e o e se es as an incen i e o inance inno a ion and boos
inno a ion collabo a ions. The lack o hese in ellec ual p ope y p o ec ions is a disincen i e o i ms’
inno a ions as hey dec ease he expec ed bene i s; his could make in en o s unwilling o unde ake
inno a i e ac i i ies (Acemoglu & Akcigi , 2012). Se e al IPR ools, such as adema ks, u ili y models,
pa en s, copy igh s, se ice ma ks, and indus ial design igh s, a e used o p o ec ion. Pa en s a e he
mos widely used and esea ched among all hese ools. In ellec ual p ope y is conside ed an essen ial
ac o in de e mining whe he indi iduals will be success ul in launching new high- ech i ms o expand-
ing exis ing ones (Laplume e al., 2014). Resea ch by Odei and Hamplo
a(2022) in small businesses
ound ha Eu opean u ili y models in luence bo h majo and mino o ms o inno a ion bu no gene al
inno a ions. Ja a i-Sadeghi e al. (2021) ound ha adema ks posi i ely in luence echnology expansion.
Rela edly, Ca ee e al. (2015) also concluded ha bo h adema ks and pa en s posi i ely in luence
4 S.A. ODEI ET AL.
inno a i e ac i i ies. Based on he indings o hese s udies, we summa ise he unde s anding ha IPR
such as pa en s, copy igh s, u ili y models and adema ks could be i al o he success o inno a ions
because hey p o ide legal p o ec ions and exclusi e igh s o inno a i e i ms. These igh s incen i ize
in es men s in R&D by ensu ing ha inno a i e i ms can ecoup hei p o i s and in es men s om
hei inno a ion ac i i ies. We he e o e hypo hesise ha
Hypo hesis 1a: T adema ks a e posi i ely ela ed o R&D and echnological inno a ions.
Hypo hesis 1b: U ili y models has a posi i e in luence on R&D and echnological inno a ions.
Hypo hesis 1c: Copy igh s a e expec ed o posi i ely in luence R&D and echnological inno a ions.
Fi ms’inno a ion collabo a ion has also been p o en o be an e ec i e means h ough which i ms can
acqui e new knowledge, echnologies, and expe ise i hey do no ha e he compe encies o gene a e
hem in e nally (Odei e al., 2020; Wes & Boge s, 2014). The open inno a ion model, which pos ula es ha
i ms need no inno a e in isola ion bu a he collabo a e wi h o he pa ne s h ough esou ce pooling,
sugges s i ms o ge ne wo ks wi h ex e nal collabo a o s o supplemen in e nal ac i i ies p oposed o
s imula e and sus ain inno a ions. Fi ms equi e coope a i e lea ning capabili ies o be able o gene a e,
b oadcas , unde s and, and me ge new ex e nal knowledge om ne wo k inno a ion de elopmen (Wes
& Boge s, 2014). These collabo a ions also allow i ms o collec i ely sha e he expec ed bene i s and cos s
in ol ed in he inno a ion p ocess. Fi ms ha e lo s o pa ne s o collabo a e wi h, namely highe educa-
ion ins i u ions, consul an s, o he i ms, and cus ome s, among o he s. In all hese pa ne ships, he col-
labo a ions o academic ins i u ions ha e been he alded as an e ec i e means o acqui ing new ex e nal
knowledge due o hei esea ch ocus (Fi ja & Gjels ik, 2018). R&D ac i i ies pe o med by uni e si ies and
o he esea ch ins i u es ad ance inno a ions in many ways. The common iew assumes ha academic
esea ch ac i i ies esul in codi ied knowledge ha mani es s i sel h ough jou nal publica ions. This
knowledge is epi omised in he echnological inno a ions and disco e ies ha i ms can u ilise o inno a e.
Fi ms’R&D collabo a ion wi h o he i ms can enable his codi ied knowledge o be ans e ed. A s udy by
Odei e al. (2023) among Ghanaian i ms concluded ha i ms’collabo a ions wi h o he i ms posi i ely
in luenced p ocess and ma ke ing inno a ions, while collabo a ions wi h supplie s we e posi i ely co e-
la ed wi h o ganisa ional inno a ions. Howe e , collabo a ions wi h Ghanaian uni e si ies nega i ely in lu-
enced all inno a ion ou comes. A ela ed s udy by Azamela e al. (2022) in Ghana also ound ha i ms’
engagemen wi h Ghanaian coope a i e pa ne s like uni e si ies enhances hei inno a ion capaci ies.
Based on he conclusions o hese s udies, we an icipa e ha i ms’domes ic pa ne ships wi h o he i ms
and uni e si ies could enhance hei abili y o access new knowledge, esou ces, and expe ise, which ha e
been p o en o signi ican ly in luence in e nal inno a ion e o s. Wi hou hese inno a ion collabo a ions,
i ms may no ha e access o hese ex e nal knowledge and esou ces, so hey may s uggle o inno a e.
Based on he indings o hese e e enced s udies, we hypo hesise ha
Hypo hesis 2a: Fi ms’collabo a ion wi h o he domes ic i ms is posi i ely co ela ed wi h echnological
inno a ions and R&D.
Hypo hesis 2b: Collabo a ions wi h domes ic uni e si ies posi i ely in luence echnological inno a ions
and R&D.
Collabo a ion wi h o eign pa ne s such as clien s and uni e si ies, among o he s, p o ides access o
ad anced echnologies, expe ise, and knowledge ha may no be eadily a ailable domes ically
(Aud e sch & Beli ski, 2024; Odei & S ejskal, 2020; Un & Rod
ıguez, 2018). This exposu e o new knowledge
and echniques can s imula e inno a ion wi hin domes ic i ms, leading o he de elopmen o no el p od-
uc s o p ocesses. Pa ne ing wi h o eign i ms, o ins ance, can acili a e access o new ma ke s, dis ibu-
ion channels, and cus ome segmen s (Odei & S ejskal, 2020). By le e aging he ne wo ks and ma ke
insigh s o hei o eign pa ne s, domes ic i ms can iden i y and capi alise on eme ging oppo uni ies,
d i ing inno a ion in esponse o changing ma ke demands. In e na ional inno a ion collabo a ions ha e
also been p oposed o o e come weak domes ic inno a ion po en ial (Moaniba e al., 2019). Due o he
weak inno a ions in Ghana, i ms could p o i om in e na ionalisa ion by o ging collabo a ions wi h o -
eign pa ne s such as uni e si ies, consul an s, and o he i ms. These in e na ional linkages could be
COGENT ECONOMICS & FINANCE 5
a enues o i ms o access ad anced knowledge, echnologies, and expe ise, which a e usually lacking in
de eloping coun ies (Rod
ıguez e al., 2018). The con inuous public suppo o inno a ions in ad anced
coun ies means ha hey abound in such ad anced knowledge gene a ed om R&D. This can ha e posi-
i e spillo e e ec s in Ghana wi h minimal public inno a ion suppo . Odei and S ejskal (2020) esea ch
disco e ed ha in e na ional collabo a ions wi h uni e si ies and businesses ha e addi ional e ec s on
echnological inno a ions and ex e nal R&D. We he e o e summa ise he unde s anding based on he
abo e-men ioned exis ing s udies ha o eign knowledge, echnologies, and expe ise om o he i ms
and uni e si ies could be bene icial o i ms in coun ies wi h weak inno a ion p ospec s. These o eign col-
labo a ions could allow i ms o access new knowledge ha canno be p oduced domes ically due o he
weak inno a ion ecosys em. This o eign knowledge can in luence he echnological knowledge and R&D
po en ial o i ms and ha e posi i e ex e nali ies on he en i e economy. As a esul , we hypo hesise.
Hypo hesis 3a: Fi ms’collabo a ion wi h o eign uni e si ies posi i ely enhances echnological inno a-
ions and R&D.
Hypo hesis 3b: Fi ms’collabo a ion wi h o eign i ms is posi i ely ela ed o imp o ed echnological
inno a ions and R&D.
Funding is a undamen al ac o a ec ing i ms’ esea ch and de elopmen as well as inno a ion ac i -
i ies (Odei e al., 2023). The lack o unding may cons ain i ms’abili ies o engage in R&D, which is known
o imp o e inno a ion de elopmen . Inno a ion unding is a majo conce n o i m manage s, indus y
p ac i ione s, and policymake s because unding limi a ions due o impe ec ions in he capi al ma ke s
lead o d as ic educ ions in inno a ion in es men s (Ho en o & Pe e s, 2012). Sus ainable inno a ion
in es men s could impinge on inancial cons ain s due o in o ma ion asymme ies and high le els o
unce ain y su ounding inno a ion ac i i ies. Inno a ion ac i i ies a e cos -in ensi e, so he a ailabili y o
unding could ensu e ha i ms do no abandon on-going p ojec s. Resea ch on inno a ion unding by
Shanka (2020) concluded ha inno a ion unding impedimen s se e as a key ac o ha nega i ely in lu-
ences A ican i ms’inno a ion ac i i ies. Odei e al. (2023) s udy on Ghana ound ha in e nal unds posi-
i ely in luenced echnological inno a ions in bo h he se ice and manu ac u ing sec o s. Simila s udies
by Asiedu e al. (2021) ound ha in e nal unding enhances new p oduc de elopmen among sub-
Saha an A ican i ms. Howe e , Udimal e al. (2019) s udies on Ghanaian small and medium-scale en e -
p ises concluded ha in e nal unding does no signi ican ly in luence new p oduc inno a ions.
Despi e he impo ance o unding in he inno a ion p ocess, mos i ms in A ican coun ies ace hu -
dles wi h inancial access. They ace conside able challenges, such as high in e es a es and colla e al
demands (Appiah e al., 2019). These challenges mean ha i ms a e no mally cu o om he inancial
ma ke s and o he ex e nal unding sou ces (p i a e and go e nmen ). Fi ms may ha e o ely on in e nal
unds gene a ed om hei accumula ed p o i s. These in e nal unds will cons i u e mos o he unding
o i ms, and his can in luence hei inno a ion ac i i ies, such as R&D, acqui ing IPR ools, human capi al
de elopmen , and collabo a ion, among o he s. Fi ms wi h g ea e in e nal unding a e be e posi ioned
o in es in collabo a i e inno a ion p ojec s, bo h domes ically and in e na ionally (Fan e al., 2019).
Adequa e in e nal inancial esou ces enable i ms o co e he cos s associa ed wi h collabo a ion, such as
R&D expenses, pe sonnel cos s, and echnology acquisi ion. Fu he mo e, in e nal unding le els impac
he in ensi y as well as scope o i ms’R&D ac i i ies, which in u n a ec s hei abili y o inno a e (Cue o-
Cazu a e al., 2018). Fi ms wi h highe le els o in e nal unding could a o d o alloca e mo e esou ces o
R&D e o s, including he de elopmen o new echnologies, p oduc s, o p ocesses. This inc eased R&D
in ensi y can ampli y he posi i e e ec s o in ellec ual p ope y igh s on inno a ion by enabling i ms o
pu sue and sus ain hei inno a ion ac i i ies. We he e o e posi ha in e nal unding is mo e likely o
mode a e i ms’collabo a ion and abili y o secu e IPR ools, which could in luence o e all inno a ion pe -
o mances, which is in line wi h he sys emic pe spec i e o inno a ion heo y ha iews access o unds
as an in e nal asse (Midgley & Lindhul , 2021). We he e o e hypo hesise ha
Hypo hesis 4: In e nal unding is expec ed o posi i ely mode a e he ela ionships be ween i ms’col-
labo a ions and abili ies o acqui e in ellec ual p ope y igh s.
6 S.A. ODEI ET AL.
Me hodology
Da a o he empi ical speci ica ion is based on a sample o 549 i ms ob ained om he Wo ld Bank
En e p ise Su ey (WBES) conduc ed be ween 2010 and 2013. As o he ime o comple ing his esea ch,
he 2013 da ase is he la es eleased by he WBES o Ghana. The WBES is join ly conduc ed by h ee
majo inancial ins i u ions, speci ically he Eu opean Bank o Recons uc ion and De elopmen (EBRD),
he Wo ld Bank G oup (WBG), and he Eu opean In es men Bank (EIB). The WBES is cu en ly ca ied
ou in abou 154 coun ies, encompassing mo e han 180,000 i ms. The WBES solici s da a using he
s a i ied andom sampling echnique based on indus ies, i m size, and geog aphical loca ions
( egions). The WBES has a b oad a ay o da a co e ing inno a ions, inno a ion collabo a ions, sou ces
o inno a ion unding, in ellec ual p ope y igh s p o ec ion, i m cha ac e is ics, and human capi al,
among o he s. This comp ehensi e na u e o he da a makes he WBES one o he bes da ase s o
empi ical analyses o i m-le el inno a ions. The popula i y and usage o he WBES da ase ha e soa ed
among inno a ion schola s, and i has been ex ensi ely used o se e al i m-le el inno a ion analyses
(see Odei e al., 2023). The inal sample in ol ed la ge and small i ms om bo h he manu ac u ing and
se ice sec o s o Ghana, wi h a sec o al b eakdown as ollows: se ice sec o (265, 48.27%) and manu-
ac u ing sec o (284, 51.73%). The da a was i s cleaned be o e he empi ical analysis; we omi ed all
‘don’ know’spon aneous esponses and eplaced missing alues wi h ze os.
All he key a iables conside ed in his pape a e bina y and span a ound echnological inno a ions,
inno a ion collabo a ions, in ellec ual p ope y igh s p o ec ions, in e nal unding, and R&D. The bina y
a ibu es o hese a iables make i essen ial o u ilise la en a iables o empi ically model hei ela-
ionships. We acknowledge ha he e a e e iden unobse ed a iables o s uc u al cha ac e is ics ha
could possibly in luence bo h R&D and echnological inno a ions, since R&D could be conside ed a ca a-
lys o inno a ions. Ou empi ical s a egy he e o e i s es ima es bi a ia e p obi s wi hou conside ing
R&D as an endogenous dummy a iable. This app oach enabled us o de e mine whe he a join es ima-
ion is app op ia e, bu i did no allow us o calcula e he in luence o R&D on echnological inno a-
ions. The p esence o exogenei y is hen es ed by using maximum-likelihood simul aneous es ima ions
o he wo p obi equa ions; his analy ical app oach is known as he ecu si e bi a ia e p obi
(Mon a dini & Radice, 2008). Simila ly, Filippini e al. (2018) desc ibe his es ima ion s a egy as a seem-
ingly un ela ed p obi model wi h an endogenous bina y a iable. The seemingly un ela ed bi a ia e
p obi model is gene ally used o calcula e wo simul aneous equa ions whe e one o he ou come a i-
ables is used as a co a ia e o p edic he o he . In sum, he bi a ia e p obi model concu en ly models
wo bina y dependen a iables whose unobse ed cha ac e is ics a e assumed o be co ela ed. This
model simpli ies he index unc ion o an unobse ed la en a iable o ano he ha may be conside ed
o hogonal (Holm & Jæge , 2011). We p esuppose ha echnological inno a ion is a la en a iable des-
igna ed by Z1i, while Z2i ep esen s he o he la en a iable cap u ing R&D. As a esul , we speci y
he wo concu en equa ions, wi h he unobse ed la en as
Z
1¼X1b1þe1(1)
Z
2¼X2b2þe2(2)
whe e e1and e2a e mu ually no mal wi h 0 means, same a iances, and co ela ion q
e1
e2jX
N0
0
1
q
q
1
! (3)
We p o ide he bi a ia e p obi model wi h obse ed ou comes as
Z1¼1
0,
i Z
1>0
o he wise
(4)
Z2¼1
0,
i Z
2>0
o he wise
(5)
Finally, we speci y he bi a ia e p obi model as
Pz
1¼i,z2¼j
ðÞ
¼ɸ2X0
1b1,X0
2b2,q
COGENT ECONOMICS & FINANCE 7
inno a ions ha e long been ca ied ou in de eloped coun ies, bu he momen um o such s udies is
g adually inc easing in de eloping coun ies like Ghana. Despi e he g owing esea ch on inno a ions in
de eloping coun ies, he a ious ac o s in luencing coun y-speci ic inno a ions emain unclea . This
s udy is he e o e in ended o ill in he esea ch gap by conside ing he ac o s capable o in luencing
echnological inno a ions and R&D. We examined he possible he e ogenei y in i ms’inno a ions and
he a ious ela ed ac i i ies unde aken by i ms o success ully inno a e by using he seemingly un e-
la ed p obi model. The indings e ealed ha echnological inno a ions and R&D ac i i ies a e no
join ly de e mined, e en hough hey bo h ha e posi i e ex e nali ies owa ds each o he . Using s a i-
ied da a om 549 Ghanaian i ms om bo h he se ice and manu ac u ing sec o s and employing a
blend o h ee es ima ion echniques, his esea ch inds ha jus abou 3% o sampled i ms epo ed
ha ing u ili y models, adema ks, and copy igh s. Fo hese i ms, hese in ellec ual p ope y igh s p o-
ec ion ools posi i ely in luence echnological inno a ions and R&D. The desc ip i e s a is ics esul s
also showed ha he ex en o inno a ion collabo a ions among Ghanaian i ms is e y low o almos
non-exis en . Howe e , o he ew i ms ha collabo a ed, he esul s e ealed ha hese collabo a ions
we e mo e likely o ha e a ma ginal o addi ional impac on hei echnological inno a ions and R&D.
In e nal unding was seen as he dominan sou ce o unding o hese i ms, ep esen ing abou 62% o
all unding. These in e nal unds p o ed o signi ican ly in luence echnological inno a ions and R&D
ou comes and posi i ely mode a e he ela ionships be ween u ili y models, copy igh s, and a ious ou -
come measu es.
The indings o his s udy make a heo e ical con ibu ion because we buil on exis ing li e a u e om
he pe spec i e o an eme ging economy. The i s heo e ical con ibu ion o he esea ch is he inco p-
o a ion o in e na ional inno a ion linkages in ol ing bo h o eign i ms and academic ins i u ions.
These syne gies ha e no ye been explo ed in he case o many de eloping coun ies ha a e cha ac-
e ised as ha ing weak inno a ion po en ial. Ou esul s ha e shown ha Ghanaian i ms’collabo a ions
wi h o eign pa ne s can enable hem o access ad anced o eign knowledge, expe ise, and echnolo-
gies, which could ha e posi i e spillo e e ec s on he Ghanaian economy. Secondly, he impo ance o
domes ic collabo a ion was p o en by ou esul s. Bo h domes ic i ms and academic ins i u ions we e
signi ican sou ces o R&D and echnological inno a ions. These indings a e consis en wi h he sys emic
iew o inno a ion om he pe spec i e o de eloping coun ies (Midgley & Lindhul , 2021). The indings
on he ole o in ellec ual p ope y igh s p o ec ion in in luencing bo h echnological inno a ions and
R&D con ibu e o a sys emic iew o inno a ion om he s andpoin o de eloping coun ies.
T adema ks, u ili y models, and copy igh s ha e been shown o ha e bo h ma ginal and addi ionali y
e ec s on echnological inno a ion and R&D. These indings esona e wi h he conclusion o o he s ud-
ies (Ma i e, 2022; Odei & Hamplo
a, 2022; Udimal e al., 2019). These i al s a egic esou ces could be
acqui ed h ough i ms’collabo a ions wi h issuing companies, which is in line wi h he sys emic pe -
spec i e o inno a ion. The inding ha in e nal unding imp o es he ela ionship be ween u ili y mod-
els and echnological inno a ion con ibu es o he sys emic iew o inno a ion by unde sco ing he
impo ance o in e nal esou ces, such as unding, in shaping he e ec i eness o in ellec ual p ope y
igh s (IPR) mechanisms. I highligh s he in e play be ween in e nal unding and IPR in acili a ing
inno a ion and R&D, demons a ing ha he wo ac o s a e no independen bu a he in e ac and
ein o ce each o he wi hin he inno a ion sys em. Fi ms should also conside di e si ying hei inno -
a ion s a egies beyond eliance solely on adema ks as a means o p o ec ing in ellec ual p ope y.
Fi ms should explo e al e na i e s a egies, such as pa en s, copy igh s, o u ili y models, which may be
mo e closely linked o R&D and echnological inno a ion, which could bene i om in e nal unding
suppo .
These esul s ha e majo policy and p ac ical implica ions. One key implica ion ha a ises om he
esul s o he open inno a ion is ha Ghanaian i ms a e ye o ealise he ull bene i s o collabo a ing
wi h, o ins ance, knowledge eposi o ies (public esea ch o ganisa ions and uni e si ies). Acco ding o
Vega-Ju ado e al. (2021), he low le els o i ms’collabo a ions wi h highe educa ion ins i u ions a e
p e alen in coun ies wi h low abso p i e capaci ies. This necessi a es policymake s and i m manage s
wo king ou collec i e s a egies o make hese syne gies mo e bene icial, allowing i ms o boos hei
inno a i e abili ies o be able o access aluable knowledge om hese knowledge ins i u ions. The
esul s ha e also shown he impo ance o bo h domes ic and in e na ional syne gies and hei abili ies
14 S.A. ODEI ET AL.
o in luence echnological inno a ions and R&D in Ghana. I is essen ial o i m manage s and schola s
o ha ness he ull po en ial o syne gies wi h bo h domes ic and o eign inno a ion pa ne s, especially
highe educa ional ins i u ions. Ghanaian i m manage s need o ake ull ad an age o he in e na ional-
isa ion p ocess o exploi inno a ions om o eign coun ies wi h s ong inno a ion po en ials o com-
plemen he cu en weak inno a ion pe o mance. These esul s i s call o go e nmen al suppo o
unding. Public unding suppo could be ex ended o i ms and academic ins i u ions ha in end o col-
labo a e wi h bo h domes ic and o eign pa ne s. The ocus o public suppo should be a ge ed a
inc easing esea ch quali y among Ghanaian esea che s and highe educa ional ins i u ions. The cu en
esea ch allowance egime, which does no conside esea ch quali y, needs o be econside ed o ha e
a clea quali y ocus, which, when done, could inc ease esea ch quali y a he han quan i y. Second, o
boos inno a ions in Ghana, he go e nmen needs o inc ease he exis ing g oss domes ic expendi u e
de o ed o esea ch and de elopmen (GERD), which is cu en ly 0.38 pe cen o GDP. The inc emen
could help imp o e esea ch in as uc u e and suppo , leading o an imp o emen in esea ch quali y.
Imp o ed esea ch quali y could be i al o enhancing collabo a ions o inno a ions. Las ly, he indings
ha e shown ha in ellec ual p ope y igh s p o ec ion in luences bo h echnological inno a ion ou -
comes and R&D. Ano he manage ial implica ion o his esul is ha i m manage s in Ghana need o
ocus on acqui ing in ellec ual p ope y igh s p o ec ions o hei inno a ions and in en ions. The
esul s ha e p o en ha in e nal unding mode a es he ela ionship be ween i ms’abili ies o acqui e
in ellec ual p ope y igh s and ools such as u ili y models, copy igh s, and inno a ions. Fi m manage s
in Ghana should p io i ise alloca ing in e nal unding o suppo R&D ac i i ies ha a e p o ec ed by u il-
i y models and copy igh s. By in es ing in inno a i e ac i i ies ha ha e he po en ial o gene a e a u il-
i y model and copy igh p o ec ion, i ms can enhance hei compe i i eness. Fi ms should conside he
ole o in e nal unding in shaping esou ce alloca ion decisions ela ed o inno a ion and IPR manage-
men . Policymake s in Ghana should conside p o iding incen i es and suppo o i ms o in es in
R&D and echnological inno a ion, pa icula ly in indus ies whe e adema ks may be less closely con-
nec ed wi h inno a ion. This could include p o iding unding o R&D ini ia i es, ax incen i es o inno -
a ion- ela ed expendi u es, o g an s o collabo a i e esea ch pa ne ships.
This esea ch acknowledges a ew limi a ions, which could po en ially be imp o ed by u u e esea ch.
Fi s , he s udy is based on c oss-sec ional da a o he yea 2013, he cu en and only inno a ion da a
eleased by he WBES o Ghana. While we admi ha he esul s migh no e lec he s a us quo o
inno a ions in Ghana, hey p o ide use ul insigh s ha could help unde s and he de e minan s o inno-
a ions du ing he pe iod. Fu he mo e, he e is no da a a ailable on inno a ion collabo a ion and in el-
lec ual p o ec ion o o he A ican coun ies. This p e en ed us om ha ing panel da a analysis
in ol ing o he coun ies. When new da a becomes a ailable, u he esea ch could be conduc ed o
compa e ou esul s and de e mine he end o inno a ions in Ghana and o he A ican coun ies.
Fu he mo e, his s udy only conside ed echnological inno a ions and R&D bu no o he measu es
such as non- echnological inno a ions, pa en s o bo h p oduc and p ocess inno a ions, majo and
mino o ms o inno a ion, e c. We ecommend u u e s udies conside hese omi ed ou come a iables
when da a becomes a ailable. Las ly, his esea ch was limi ed o Ghana. Fu u e esea ch could possibly
be ca ied ou in o he de eloping coun ies, especially A ica, o assess he gene alisabili y o ou ind-
ings. Finally, while we ound s a is ically signi ican mode a ing e ec s o in e nal unding and how i
impac s in ellec ual p ope y p o ec ion, i would be in e es ing o assess he o he mechanisms h ough
which i ms’collabo a ions and in ellec ual p o ec ion could e ec i ely impac R&D and echnological
inno a ion. Fu u e s udies could, o example, examine he con ingen e ec s o o he ac o s ha can
impac he e ec i eness o collabo a ions and IPR o inno a ion, such as he legal and egula o y en i -
onmen in which i ms ope a e (Huang e al., 2017; Telg e al., 2023) and ma ke dynamics and compe i-
i e p essu es (Nu uzzaman e al., 2019; Ogink e al., 2023).
Au ho ’con ibu ions
SOA: concep ion and design, analysis and in e p e a ion o he da a and he d a ing o he pape ; IS;
Da a cu a ion, w i ing o iginal d a , e iewing, and edi ing; EFH: w i ing o iginal d a , e iewing, and
COGENT ECONOMICS & FINANCE 15
edi ing; GT: supe ision, e ision, and he inal app o al o his e sion. JH: da a cu a ion, w i ing o iginal
d a , e iewing and edi ing. All au ho s ag ee o be accoun able o all aspec s o he wo k.
Acknowledgemen
The au ho s a e g a e ul o he s uden s Michal Zil a and Ma in Ma
ej
ı
cek o p o iding us wi h eedback on he
o e all concep and edi ing o he a icle.
Disclosu e s a emen
The au ho decla es no compe ing con lic o in e es s.
Funding
The a icle was suppo ed by he speci ic esea ch p ojec “Economic Impac s unde he Indus y 4.0 / Socie y 5.0
Concep ”, 2024, Uni e si y o H adec K
alo
e, Facul y o In o ma ics and Managemen , Czech Republic.
Abou he au ho s
Samuel Amponsah Odei, holds a doc o a e deg ee in egional and public economics om he Uni e si y o
Pa dubice, in he Czech Republic. He cu en ly wo ks as a pos doc o al esea che a he Depa men o Economics
a he Uni e si y o H adec K
alo
e in he Czech Republic. His cu en esea ch in e es s ocus on analyses o inno a-
ions om he mic o and mac o pe spec i es, egional g ow h and de elopmen .
I an Soukal (1983), g adua ed om he Facul y o In o ma ics and Managemen , Uni e si y o H adec K alo e
(2008), whe e he also ecei ed his Ph.D. (2012). He is an Associa e P o esso a he Depa men o Economics,
Facul y o In o ma ics and Managemen , Uni e si y o H adec K alo e, Czech Republic. He is a gene al sec e a y o
he H adec Economic Days con e ence. His main esea ch a eas a e consume beha io and banking.
E a F eibaue Hamplo a, is an Assis an P o esso (Economics) in he Facul y o In o ma ics and Managemen a he
Uni e si y o H adec K alo e, Czech Republic. She ecei ed he PhD om Masa yko a Uni e si y, B no and he Ing
om he Uni e si y o Economics, P ague. He esea ch in e es s include en ep eneu ship in he Czech Republic,
inancial managemen , SMEs, boa d gende di e si y and pos —audi o capi al p ojec s.
Gab iela T nko
a Ing, is an Assis an P o esso (Economics) a he Facul y o In o ma ics and Managemen a he
Uni e si y o H adec K
alo
e, Czech Republic. She ecei ed he PhD, mas e and bachelo deg ees om he Czech
Uni e si y o Li e Science, P ague. He esea ch in e es s include economics o ag icul u al and ood p ocessing busi-
ness wi h ocus on e iciency and p oduc i i y analysis, inancial analysis, en ep eneu ship and SMEs in he Czech
Republic, ag icul u al policy and u al de elopmen .
Jan H u
ska, is a esea che a he Uni e si y o H adec K
alo
e. He has a PhD in in o ma ion and knowledge man-
agemen . His esea ch in e es s include ma ke ing, managemen , ou ism, neu al ne wo ks, machine lea ning, and
p edic ions.
ORCID
I an Soukal h p://o cid.o g/0000-0003-3468-0270
Da a a ailabili y s a emen
Da a could be p o ided on eques .
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