Robust determinants of companies’ capacity to innovate: a Bayesian model averaging approach

Robustness of innovation determinants is a crucial component for the company’s capacity to innovate and is increasingly central to our understanding of country (national) innovation capacity. The large number of internal and external determinants therefore raises the question of finding/perceiving the robust determinants of companies’ capacity to innovate. By using a Bayesian Model Averaging approach, the World Economic Forum’s (WEF) Competitiveness dataset of 135 countries, 10 periods, and a total of 1.239 observations, has been analysed. From 62 explanatory determinants, 27 determinants were found to be significantly and robustly correlated with companies’ capacity to innovate. Our results show that the large number of the previously suggested innovation determinants is not robust. A holistic approach that jointly considers the internal and external determinants of CCI is proposed. A central ingredient of this approach is direct public and private financial support for performing research and development.

For all the academic writing gurus :)

Where is your favorite place to write?

Is there a favorite place?

air and light and time and space

“–you know, I’ve either had a family, a job,

something has always been in the


but now

I’ve sold my house, I’ve found this

place, a large studio, you should see the space and

the light.

for the first time in my life I’m going to have

a place and the time to


no baby, if you’re going to create

you’re going to create whether you work

16 hours a day in a coal mine


you’re going to create in a small room with 3 children

while you’re on


you’re going to create with part of your mind and your body blown


you’re going to create blind



you’re going to create with a cat crawling up your

back while

the whole city trembles in earthquake, bombardment,

flood and fire.

baby, air and light and time and space

have nothing to do with it

and don’t create anything

except maybe a longer life to find

new excuses


© Charles Bukowski, Black Sparrow Press

Hidden Champions of the Republic of Macedonia

The Republic of Macedonia is a small landlocked country with nice people, tasty food, and a lot of sunny days. Throughout its history, the present-day territory of Macedonia has been a crossroads for both traders and conquerors moving between the European continent and
Asia Minor. Each of these transiting powers has left its mark upon the region, giving rise to a rich and varied cultural and historical tradition. For over 500 years, until 1912, Macedonia was under the rule of the Ottoman Turkish Empire. After the Second Balkan War, the territory
of Macedonia was divided between Bulgaria, Greece, and Serbia. After that, the present-day area of the Republic of Macedonia was incorporated into the newly formed Kingdom of Serbs, Croats, and Slovenes. After the Second World War, the Republic of Macedonia
became one of the constituent republics of the new Socialist Federal Republic of …


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