"I have investigated how innovation transforms business performance among Norwegian private sector firms, explicitly focusing on profitability, export-oriented innovation, and technical efficiency", writes Olugbenga Michael Adewumi to inn.no.
The study employs econometric analyses, utilizing Community Innovation Survey (CIS) data alongside firm-level financial records, to examine how they affect manufacturing and service sectors.
"Along this line, export-driven innovation benefits most from tailored innovation strategies aligned to firm-specific processes", says Adewumi.
"On another side, innovation outcomes are highly dependent on context and innovation type, with disruptive innovations correlating with increased profitability, while both disruptive and sustaining innovations contribute to technical efficiency improvements", adds Adewumi.
Furthermore, dynamic analysis shows that innovation delivers profitability advantages for service-oriented firms up to the medium term but is stronger in the immediate term.
Overall, the research extends theoretical frameworks by incorporating broader performance measures beyond conventional financial indicators while providing practical guidance for managers on implementing flexible, context-appropriate innovation strategies.
The thesis also suggests policy directions to encourage diverse innovation practices supporting long-term economic development.
The thesis is titled: "Assessing the Transformative Power of Innovation on Business Performance in Private Sector Firms".
Main findings in the doctoral work:
- Export-driven innovation benefits most from tailored innovation modes aligned to firm-specific processes.
- Disruptive innovation increases profitability while sustaining innovation is insufficient for such an impact.
- Firms' technical efficiency improves with both disruptive and sustaining innovations.
- Innovation delivers profitability advantages for service-oriented firms up to the medium term, but is stronger in the immediate term.
Contact information:
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