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This paper aims to study whether Peruvian manufacturing firms that implement innovation have positive performance and whether R&D activities moderate these relationships.

Using a data set of Peruvian manufacturing firms from the 2018 National Survey of Innovation, a LOGIT model analysis was applied to 774 companies. In addition, the authors fitted different models into subsamples to explore the moderating effects of R&D on manufacturing firms. Finally, the regression models were computed using R software.

The results indicate that product, service and marketing innovation are associated positively with an increase in market share, while process and organizational innovations are associated positively with productivity. Moreover, companies with R&D are more productivity-oriented than companies without R&D.

This study contributes to the literature on innovation management by supporting the assumption that innovation results in increased productivity and expands market demand. In addition, findings highlight that R&D is essential for boosting firms’ productivity.

Managers should consider an appropriate combination of the innovation portfolio and R&D investments to make progress and increase performance in the company. In addition, policymakers should consider that investments to promote the development of R&D activities in manufacturing companies will likely lead to médium- or long-term returns.

The correct use of indicators to measure these relationships could help the policymaker to design and measure policy instruments more efficiently.

These results provide a deeper understanding of how the effects of innovations implemented by manufacturing firms, especially service and process innovation, improve their performance.

The purpose of this study is to present the evolution of academic research in venture capital (VC) research between 1990 and 2014.

The study analyzes the most influential journals in VC research by analyzing papers, which were published on the Web of Science database.

Results show a steady increasing rate of VC research during the past 25 years. The paper reports the 40 academic journals that permanently publish articles about VC research.

The main contribution of this work is to develop a general overview of the leading journals in VC research, which leads to the development of a future research agenda for bibliometric analysis, such as the review of the most productive and influential authors, universities and countries in VC research.

This chapter studies how entrepreneurship research has evolved at the Latin American level. Using the database available in the Web of Science Core Collection, a period-by-period bibliometric analysis is carried out to identify possible changes in research trends over time. On the one hand, the results show that in the period 2000–2006, research focuses mainly on rural development, community development and financial resources. On the other hand, in the period 2007–2013, the research priority is related to international entrepreneurship, private capital raising and studies based on the Global Entrepreneurship Monitor (GEM). Finally, during the period between 2014 and 2020, research focused mainly on self-employment, family businesses, promotion of angel investor networks, venture capital, and female entrepreneurship. The results of this study may be of interest to academics, researchers, and policymakers to understand the evolution of this topic in recent decades and to promote entrepreneurship and innovation in the region.

This study aims to explore the institutional complexities associated with the design and implementation of a natural resource fund for innovation.

This study examines the case of Chile's Innovation Fund for Competitiveness by means of a historical approach building on interviews with key informants.

The proper functioning of a natural resource fund for innovation requires efficient institutional and operational structures, as well as strong coordination with innovation system actors. In particular, the case of Chile highlights the challenges inherent in adopting a regional approach when implementing this type of strategy, due to the institutional voids that hamper the role of regional governments in emerging countries.

Natural resource funds for innovation constitute a strategic mechanism for developing the innovative capabilities necessary to enhance the competitiveness of resource-rich emerging countries. This is one of the first studies addressing the institutional challenges involved in setting up this kind of fund in practice, focusing on one of the most relevant and longstanding examples from Latin America.

Although much has been studied about the characteristics of born‐global firms in developed countries, studies about developing economies are far and few between and most tend to be exploratory. The paper aims to discuss these issues.

This paper studies how Chilean born‐global firms behave and examine five distinct factors as compared to enterprises that gradually internationalize. A logistic regression model was applied to a sample of 115 small‐ and mid‐sized enterprises (SMEs) that presented a growing and non‐occasional internationalization to study the change in the probability that a young Chilean exporter will be classified as born‐global.

The results show that a foreign capital network, an economic development agencies (EDAs) network, the cultural distance from the countries receiving the exports, the localization of the SME in the capital city, and the company's size are factors that significantly increase the probability that a young Chilean exporter will be classified as born‐global. In contrast with the high technology content of the born‐global companies that has been reported in developed countries, the technology level was not relevant in how quickly the Chilean SMEs internationalized.

New public policy proposals may be inferred from the results of this paper. For example, the EDAs may increase their effort in promoting internationalization, particularly in geographical regions by taking into account the characteristics of each city and its entrepreneurs. This could help diminish the positive effect of location (i.e. perverse effect of centralization) presented in this study.

Si bien se ha estudiado bastante sobre las características de las empresas globalizadas desde que empiezan (born globals, o BG) en países desarrollados, para las economías en desarrollo son muy pocos los trabajos existentes, teniendo la mayoría un carácter exploratorio.

Este trabajo estudia el comportamiento de empresas que desde el principio nacen globalizadas (BG) en Chile y examina cinco factores distintivos con respecto a las empresas de internacionalización gradual. Se utiliza un modelo de regresión logística sobre 115 PYMES que presentan una creciente y no ocasional internalización para estudiar el cambio en la probabilidad de que una joven empresa Chilena exportadora sea clasificada como BG.

Los resultados indican que las redes con capitales internacionales, las redes con Agencias de Desarrollo Económico (ADE), la distancia cultural de los países receptores de la exportaciones, la ubicación de las PYMES en la ciudad capital, y el tamaño de la empresa son factores que significativamente aumentan la probabilidad de que joven empresa Chilena exportadora sea clasificada como que nació globalizada (BG). Contrario al alto contenido tecnológico de las empresas BG que ha sido documentado en países desarrollados, el nivel tecnológico no es un factor relevante para explicar la rapidez con que una PYME chilena se internacionaliza.

Las ADE Chilenas podrían aumentar su esfuerzo para promocionar la internacionalización, particularmente en regiones geográficas, tomando en cuenta las características de cada ciudad y sus emprendedores. Esto podría ayudar a disminuir el efecto positivo de la ubicación (efecto perverso de la centralización) presentado en este estudio.

A partir de los resultados de este trabajo podrían elaborarse nuevas propuestas de política pública.

The purpose of this paper is to analyze the impact on businesses in Chile of the Seed Capital Program (SCP) implemented by Chile’s Technical Cooperation Services.

In order to analyze the impact of this SCP, a counter-factual scenario was used that entailed a combination of the propensity score matching with difference in difference methods. A total of 682 businesses were surveyed (378 in the treatment group and the rest in the control group), 164 of which gave complete responses to the surveys, 89 belonging to the treatment group and 75 to the control group.

The results are mixed. On the one hand, the impact of sales is positive but its statistical significance depends on the model used. With regard to the number of employees, however, the results are positive and statistically significant regardless of the model used. The results also show that participating in the program has no incidence on the probability of later obtaining financing.

This study highlights the importance of differentiating between opportunity-driven entrepreneurship programs and necessity-driven entrepreneurship programs.

It also suggests improvements in public policy to develop entrepreneurship in small businesses in Chile. These suggestions may also be interesting for other countries facing similar challenges in terms of developing private entrepreneurship as a vehicle to generate economic development.

This exploratory work may be interesting to those in charge of designing, implementing and evaluating public programs in support of small- and mid-sized enterprise development.

The purpose of this paper is to explain how two task characteristics and two individual differences influence which heuristics individuals use, and as a results explain their decision performance when choosing performance measures (PMs) for incentive compensation.

In total, 76 MS accounting students volunteered to participate in an experiment. A between-subjects experimental design was used to test the hypotheses.

The experimental evidence suggests that individuals, while using high-complexity heuristics, can choose an incorrect PM when PM attribute conflict is present and the difference between PM attribute differences is small. Individuals with high goal commitment are more likely to make the correct choice than individuals with low goal commitment, because they focus more on the PMs’ goal congruence than on the PMs’ noise when making tradeoffs between the conflicting PMs’ attributes.

The social context can stimulate individuals’ empathic concern and/or goal commitment and thus explain individuals’ performance when PM attribute conflict is present and the difference between PM attribute differences is small.

The results of this study are important to those responsible for designing incentive systems give greater importance to considering not just congruency attributes in PM but precision attributes as well.

This paper develops predictions and provides experimental evidence on two task characteristics that influence individuals’ use of heuristics when choosing PMs for incentive compensation. In addition, it provides evidence that individual differences can affect individuals’ PM choice performance when tradeoffs between PMs’ congruity and precision are required.

On September 11th, 1973, started the darkest stage in the recent history of Chile. The military and the police, at the command of General Augusto Pinochet, executed the most atrocious acts against the human dignity that the country had witnessed. The martial and technocratic leaders of the dictatorship ripped apart and redesigned the institutions of the country at their will, through to the elimination of the opposition and the systematic violation of human rights, which reached any person or group. Just a few days after the coup d’état that brought Pinochet to power, the Cardinal and Archbishop of Santiago, Raúl Silva Henríquez, and a group of churches declared themselves against the devastating violence that was gripping the country. Immediately, the religious spaces took up the lead in the defense of the most vulnerable, the persecuted, marginalized, and poor. The major effort focused on the Vicariate of Solidarity, an organization of the Catholic Church in Chile that was tasked with the promotion and defense of human rights, which offered legal and social assistance to the victims and their families. The Vicariate quickly positioned itself as a leader in search of justice against the backdrop of repression, censorship, lack of representative institutions, and prohibition of popular movements. The purpose of the present chapter is to analyze the work of the Vicariate of Solidarity and its leading role in the fight against human rights violations, strengthening social reorganization, reconciliation, and the return to democracy in Chile.

The purpose of this article is to summarize the basic literature and concepts of innovation and entrepreneurship, emphasizing the relevant studies for Latin America. The authors aim to assess the role of Latin America in the world innovative activity utilizing the production of USPTO patents.

To achieve the first objective, the authors review and summarize the relevant literature for innovation and entrepreneurship in Latin America. They also introduce each of the papers included in the current special issue of Academia. To achieve the second objective, the authors use the production of USPTO patents by Latin American residents, and examine those levels to the rest of the world.

The authors find Latin America to be a marginal contributor to the world innovative activity. Although the region represented 8.7 per cent of world GDP in 2011, it only generated 0.19 per cent of the world patents registered at the USPTO between 2008 and 2012, and only 0.17 per cent of all patents registered since 1976. However, countries such as Costa Rica and Uruguay have larger levels of patent production by 100,000 inhabitants with 7.05 and 4.72 for 1976-2012.

This introduction introduces work that continues the intense discussion on innovation and entrepreneurship in Latin America. It is to the extent of the authors' knowledge, one of the first attempts to measure the level of innovation at the regional level, and compare the performance of different countries. This special edition has implications for individuals, firms and governments striving to introduce new products, services and processes in a region that has historically confronted important barriers to innovation.

En esta introducción presentamos algunos conceptos básicos sobre innovación y empresariado, y hacemos énfasis en la literatura que ha estudiado estos fenómenos en América Latina. Evaluamos, además, el papel de América Latina en la actividad innovadora mundial, utilizando la producción de patentes registradas en la Oficina de Patentes y Marcas de Estados Unidos (USPTO), y encontramos que América Latina desempeña un papel marginal con relación a otros centros mundiales de innovación. Finalmente, se presentan los artículos de este número de la revista Academia. Esta edición especial tiene implicaciones prácticas para individuos, empresas y gobiernos, que quieran introducir nuevos productos, servicios, y procesos desde una región que históricamente ha tenido que enfrentar barreras a la innovación.