دانلود رایگان مقاله سرمایه گذاری مستقیم خارجی به عنوان یک راه برای هدایت فرایند نوآورانه به سمت پایداری

abstract

In 1972, for the first time, the term “sustainable development” was coined at the Stockholm conference, and in 1987, the Brundtland report established the sustainability-innovation “binomial”. Since then, extensive research into sustainability-oriented innovation has been conducted, focused during the last decade on SMEs and recognizing these as the main actor of sustainable development, for which foreign direct investment (FDI) is considered, from a research and institutional point of view, as a vital source, although academic literature presents conflicting conclusions. In this context, this paper aims to perform a microeconomic analysis of how FDI influences the innovative process of SMEs and how this can lead to a process oriented towards sustainability. To this end, a panel of 4667 SMEs has been analyzed, spanning a sample period between 2004 and 2013, through a binary logit model, which compares and contrasts SMEs with FDI and equivalent SMEs without FDI, over time and, therefore, exposed to a changing economy. The most significant results are that FDI is attracted mainly by factors associated with technological supply, which, when coupled with being of medium size and located in a manufacturing sector of medium-high technology, generates positive spillovers. These depend, to a large extent, on public funding, which allows these companies to be more innovative and makes it more likely they focus their innovative process on sustainability.

5. Discussion and conclusions

The objective of this work has been the empirical analysis of the factors that attract FDI to SMEs, which generate spillovers and can make them prone to innovations oriented towards sustainability.

With regard to the factors that attract FDI, those SMEs that have greater access to public financing are more attractive thanks to their effective systems of protection, especially in the recession period, as well as SMEs that are likely to cooperate and generate an innovative dynamic, by establishing growing and lasting ties of collaboration. In addition, having access to a market where there is a strong demand for innovations and which is not dominated by established companies would attract FDI that is not looking for a platform to access adjacent markets, since the propensity to export is downward in the entire sample period.

Therefore, technological supply factors, as established by the theory of resources and capacities, are the dominant factors in the location of FDI. However, the importance of proxy variables of market potential and the fact that these are not considered a platform to access other markets, indicates that the Spanish market has the capacity to absorb the innovations made and that it has the means to develop them.