Exploring how innovation strategies at time of crisis influence performance: a cluster analysis perspective
This paper analyzes the connection between innovation activities of
companies – implemented before crisis – and their performance –
measured at time of crisis. The companies listed in the STAR Market
Segment of the Italian Stock Exchange are analyzed. Innovation is
measured through the level of investments in total tangible and
intangible fixed assets in 2006–2007, while performance is captured
through growth – expressed by variations of sales, total assets and
employees – profitability – through ROI or ROS – and productivity –