Relationship Of Financial Performance And Technical Efficiency With Innovation And Investment In R+D In Microenterprises In The Industrial Sector In Colombia
Published 2025-10-15
Keywords
- Innovation, Research and Development (R+D), Total Factor Productivity (TFP), Return on Assets (ROA), SMEs, Colombian industrial sector.
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
Colombia is a country where SMEs make up the majority of the business fabric, generating employment and contributing significantly to GDP, although they face limitations in innovation and technological adoption that affect their productivity and profitability. In this context, variables such as research and development (R+D) and innovation are recognized as strategic elements to strengthen business performance and economic growth. However, gaps in technological capabilities, access to resources, and knowledge networks continue to limit the productive sector. Therefore, this study seeks to empirically analyze the relationship between innovation, R+D, total factor productivity (TFP) and return on assets (ROA) in the Colombian industrial sector, using data from the EAM and EDIT of DANE (2013–2022) and the Levinsohn and Petrin method to estimate these effects more accurately according to firm size. The findings will make it possible to identify differential policies that promote innovation effectively, adapted to the characteristics of each type of company.