FINANCING MARKET INNOVATION BY KNOWLEDGE-INTENSIVE BUSINESSES FOR SOCIO ECONOMIC ADVANCEMENT IN EMERGING ECONOMIES

摘要: This paper aims to investigate the strategies for financing new market innovation by KnowledgeIntensive Business Services (KIBS) firms socio-economic advancement in Nigeria. A framework is built which small finance innovations through utilizing from two distinct institutional sources, are formal (e.g. banks) and informal cooperatives etc.) institutions. Primary data a survey of 510 medium sized enterprises (SMEs) inknowledge-intensive businesssector Lagos, Nigeria at firm level employed. The findings suggest that sources accommodate needs developing economy serve as primary source innovation. Thus, system should be acknowledged an integral part influencing emerging economies. scope study restricted only KIBS SMEs one local context, could assist formulating policy frameworks supporting innovation, based on utilization external financial resources contributes literature theory entrepreneurship countries, providing better understanding connected with