The impact of formal and informal appropriability regimes on SME profitability in medium high-tech industries

摘要: Innovation is assuming increasing relevance in current economies, but being able to complete the innovation process not enough for firms if they could appropriate value of their investments. Within this context, aim paper understand whether SMEs may reap higher economic benefits while relying on formal regimes, terms patents, or informal ones order protect innovations, which represents an under-investigated issue. On basis a panel regression and cluster analysis Italian SMEs, results suggest that more mechanisms, particular time-to-market unique skills employees, over register superior performance.