Relative importance of some innovation factors : findings from the Lithuanian case

Abstract

This paper explores the relative importance of such innovation factors as general companies' characteristics (such as size, sector, affiliation with other companies), resources for innovation (in terms of finance and personnel), organisational factors (existence of a permanent innovation process and comprehensiveness of organisational changes), and open innovation-related factors (innovation information sources and partnerships). In order to evaluate significant factors, the cross-section data on innovation in Lithuanian companies from the period 1999-2004 was used. The results of econometric modelling using logit method showed that finance is a significant factor of innovation; however, open innovation-related factors have a higher impact on probability that the company will have implemented a technological innovation than other significant factors.